Child Life Insurance : Should You Buy Insurance on Your Kids?

Should You Buy Insurance on Your Kids?

I created this video to answer the question and provide tips for knowing if buying life insurance on your children is right for you.


This is Liran Hirschkorn from, and in this video I'm going to answer the question of "Should you buy life insurance on your children?" Before we answer that question, let's talk a little bit about some life insurance facts.

Life insurance ownership is at its lowest level in over 50 years. 30% of all Americans have no life insurance at all. Some have insurance through their work, some Americans have individual policies, but 30% of Americans have no life insurance at all. 58% of Americans believe that they need more life insurance.

Why do I bring up these facts? Because before you buy or consider buying life insurance on your children, you want to make sure that you are not in this category. You want to make sure you, yourself, are fully protected. So before you buy life insurance on your kids, ask yourself. Do I have life insurance? Does my spouse have life insurance? How much life insurance do I have? Do I have enough coverage?

You want to take a look at your own policies and see if you have enough life insurance. On our website,, if you go down to our footer, under "LIFE INSURANCE TOOLS" we have a link to a great life insurance calculator that you can use to find out if you, yourself, have enough life insurance.

If you've decided that, yes, I have enough life insurance. My wife and myself are protected. Well, how do you buy life insurance on your kids? First, when you buy a policy, you can look for an insurance policy that has a child rider. This is a rider that covers all your children, so if something were to happen to any of your children, it would cover them. You can choose dollar amounts, I believe with most policies anywhere from $1,000 to $25,000, and it would cover all your children up until, with some policies, age 18, and some policies until age 21. They would be covered and this is typically used for, God forbid, things like a burial expense, should you have that, this would cover your child.

The other way to buy life insurance on your kids is to buy some kind of permanent policy that can build up cash value. This is more of an investment and this could be for your child's college education or something else for their future. My recommendation, only buy life insurance on your kids if you're fully insured first. Again, review your policy, review your spouse or your partner's policy, make sure that you are covered, and that you have enough life insurance in place. Then if you do want evaluate quotes, either for yourself, or for your children, you can visit our website at

This is Liran Hirschkorn for Thank you.

Author: Liran Hirschkorn