Why Do Kids Need Life Insurance? 
Since the purpose of life insurance is usually to protect someone from an economic loss that would be caused by the death of the Insured person , this is a good question . Why do kids need life insurance ? In light of the stated purpose , perhaps this need does not exist in your family . If the unspeakable happened and you lost a child , you may have plenty of resources to cover final arrangements , even if there were medical bills . If not , then a life insurance policy for a child , or putting the child -LRB- ren -RRB- on a child rider on your policy , would be a valid choice . However , because I specialize in Impaired Risk life insurance -LRB- life insurance for those who have health conditions or other risk -RRB- , I see the biggest advantage of kids having life insurance as ensuring they will be able to get affordable life insurance for the rest of their lives . There is a huge advantage to getting them insured while they are still healthy . E.g. . A child who develops type 1 diabetes will not be able to get a life insurance policy until they are at least 16 years old , and then far above average rates will follow them the rest of their lives . If they got even a term policy before developing diabetes , the policy can later be converted to a permanent policy at the same health rating they got before they were diagnosed . If on a child rider , they can get 5 times the amount of the rider rated Standard when they become adults , no health questions asked . There is a tendency to not think about life insurance until there is a scare in one 's health . Having life insurance as a child just takes care of it , no matter what the future brings . 