Children's Whole Life Insurance
Life Insurance Policy
- Secure a low, lifelong rate for your child
- Financial protection that builds cash value over time
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What is whole life insurance for children?
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The Benefits of Whole Life Insurance for Children
Long-Term Protection at Lower Premiums
The cost of life insurance typically increases with age. Buying a children's life insurance policy lets you lock in a lower, lifelong premium.
The Security of Future Insurability
Whole life insurance for kids secures lifelong coverage for them. Even if they become ill later in life, the coverage will be there as long as premiums are met.*
Cash Value That Grows with Your Children
A children's whole life insurance policy builds cash value over time. The earlier you start, the sooner it accumulates cash value.
Protection for Their Future
Buying whole life insurance for children is an excellent way to set them up for success. One day, your kids might have a family of their own. A children's life insurance policy can help them protect their families too.
Guaranteed Purchase Option
Your children's life insurance needs could change as they get older. But you or they can increase their coverage limits after they hit certain milestones.* If you buy whole life insurance for a child from us, the policy can grow with them.
Three Levels of Coverage
Our coverage options make purchasing whole life insurance for children easier. We offer $25,000; $50,000 or $75,000 policies with 10- and 20-year payment options .**
Frequently Asked Questions
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The information on this webpage represents only a brief description of coverages, is not part of your policy, and is not a promise or guarantee of coverage. If there is any conflict between this information and your policy, the provisions of the policy will prevail. Insurance policy terms and conditions may apply. Coverage features and limits vary by state and may be subject to change. Some products are not available in every state. Discount availability and eligibility vary by state and policy terms. (Discounts apply to auto and property policies.) Please check with your agent and read the policy for exact details on coverages and exclusions.
*This is a brief description of coverage and is subject to policy and/or rider terms and conditions which may vary by state. Fixed and guaranteed premiums are statements about the policy as determined at issue, and any changes made to a policy may affect the premium and are subject to our underwriting rules. The words lifetime, lifelong and permanent are subject to policy terms and conditions. DreamSecure Whole Life and Flexible Life Insurance policies mature at age 121. Please check with an American Family agent for details on coverages and restrictions.
**The 10-year payment option for the DreamSecure Children’s Whole Life Policy is a modified endowment contract. This means that pre-death distributions will generate taxable income to the extent there is taxable gain on the policy. A 10% federal tax penalty applies to the taxable amount of a distribution received before the policyholder reaches age 59-1/2. Neither American Family Life Insurance Company nor its agents are authorized to give tax or legal advice. You should consult a tax advisor for any questions you have regarding a modified endowment contract.
***Any loans taken from your life insurance policy will accrue interest. Any outstanding loan balance (loan plus interest) will be deducted from the death benefit at the time of claim or from the cash value at the time of surrender. If the loan balance grows too large for the cash value to support it, the policy could terminate.
†Approval is subject to health history and underwriting guidelines.