3 Benefits of Juvenile Term Life Insurance

October 19, 2023

When it comes to life insurance, parents understand the importance of seeking policies for themselves, but only some think about juvenile term life insurance. Juvenile term life insurance not only insures against the loss of a child but also can pave the way to a permanent policy, creating financial security for children in adulthood. To better understand why you may want a life insurance policy for your children, there are three main benefits of this investment.

Benefit 1: Affordable Premiums

Generally, a juvenile life insurance policy will be more affordable than an adult's policy. Parents who want to help create security for their children's financial future can benefit from lower-cost policies that won't break the bank. The following is an example of juvenile term life insurance premiums from 1891 Financial Life.

SAMPLE: 5-year-old Boy, Everyday Juvenile Rate

Kid's Term Insurance1      Life Insurance Premium Premium Mode
             $50,000 $80 Paid Annually
  $50,000 $660 One Payment


Benefit 2: No Medical Exam Requirement

Unlike adult policies, juvenile policies have a simplified underwriting policy. You won't need to have your children examined because in most cases, they can get coverage without any medical requirements.

Benefit 3: Guaranteed Insurability

In the future, if your children develop certain conditions, insurance companies may deny them life insurance. Future conditions like asthma, diabetes, cancer, epilepsy, and high blood pressure can interfere with your children's ability to obtain affordable life insurance. 

1891 Financial Life’s Juvenile Term policy1 will last through age 26, after which it can be converted to whole life insurance. This means that when the child is grown, they can purchase whole life insurance coverage up to $100,000 prior to age 26 without any proof of insurability. The benefits of purchasing this whole life policy is that they can continue to have life insurance coverage -  whole life insurance it will also last for their lifetime (as long as premiums are paid) and can build cash value.

If you purchase juvenile term life insurance, you guard your children against uninsurability. Your kids continue to have protection, even if they develop a medical condition.

Is Juvenile Term Life Insurance a Good Idea?

Children's life insurance policies help safeguard your children's future for a low cost. To obtain a juvenile term life insurance quote, contact us at 1891 Financial Life today.

About 1891 Financial Life 

At 1891 Financial Life, we don’t just sell policies, we offer possibilities. We pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help us to continue the good works that we do in the community. 

Our mission is to provide products and benefits that assist individuals and their families in achieving financial security, while helping to build strong communities by supporting volunteer programs that reflect common shared values. In 2023, 1891 Financial Life was listed by Forbes as one of "The World's Best Life Insurance Companies." 

1 - Subject to change. Products/features may not be available in all states. All quotes are for illustration purposes; actual premiums and coverage will vary based on gender, age, health history, and certain underwriting criteria. Talk to an agent about individual product details. 1) 21-JVT26 Plan Series.