How Much Is Whole Life Insurance For Children? 
In addition to buying a separate plan of insurance for a child you have the ability to add children as a rider to your own life insurance plan -LRB- $ 1,000 to $ 99,000 per child are Standard options -RRB- at a flat rate of about $ 5/year for every $ 1,000 of coverage . Whether you have 1 , 3 , or 10 children , you only pay one premium . This type of rider lasts until your children reach the age of 18 , at which time they can convert it to a Whole Life plan with an option to purchase additional amounts -LRB- some companies allow up to 5 times the coverage -RRB- without providing any Health Qualification . A nice feature if your child can not get Life insurance due to Health or is a higher risk . 