Can I get life insurance for my child?

Yes, child life insurance is available and can provide both a small death benefit and a lifetime of locked-in low premiums. Parents can purchase a standalone policy for a child or add a child rider to their own policy for modest coverage. While children rarely have financial dependents, child life policies build cash value over time and guarantee insurability regardless of future health issues. Most financial planners recommend prioritizing coverage for income-earning parents first.