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Whole Life for Children

What is whole life insurance for children, and why do you need it?

Whole life insurance for children is low-cost life insurance that provides your children or grandchildren with their own life insurance policy as well as benefits above and beyond what your own life insurance policy offers them.

How does it work?

As with our whole life insurance policy, whole life insurance for children is financial protection that covers your children for their entire lives. The policy builds cash value that, in most cases, grows tax-free. Getting coverage for your children now means that you can guarantee their future insurability.

Some of the benefits of owning a whole life insurance policy for your child include:

  • You can lock in low premiums for life.
  • It guarantees that your child will be insured in the future.
  • Your child’s whole life policy will remain active, as long as premiums are paid, even if health problems develop.
  • A portion of your child’s policy accrues cash value, which begins to grow as soon as you take out the policy.
  • The cash value may be borrowed to help your child with future expenses, such as a first car, home or college tuition.
  • Your child may receive dividends on his or her policy.

Whole Life Insurance for Children – At A Glance:

How long does the coverage last?

Coverage will last the lifetime of the insured. 

What coverage amounts are available?

Ages 0 - 14: $10,000 min. - $1,000,000 max.  (Note: SBLI ages = nearest birthday) 
What ages qualify?

15 days to age 14 years.

Are there riders available?

SBLI offers a variety of beneficial riders; however, not all SBLI riders are available with whole life for children policies. Riders may have state and/or age limitations. Please contact an SBLI sales professional to discuss your best options.    

Is this product convertible?


What are my options for paying my premium?

One-time payment, annual, semiannual, quarterly or monthly. Monthly payments must be by Automatic Payment Plan. ($10 min.)
How long is my free-look period?

You will have a 30-day window to refuse and return a newly issued whole life policy. The number of days begins upon the policy owner's receipt of the policy. All premiums paid are returned under the rescission right.

In what states is this product available?

See our product availability chart for availability of all products by state.
Will my child need a medical exam?

Children under 15 are not required to take a paramedic exam. A parent should answer the medical part of the questionnaire on behalf of the child. 
Children age 15 and older will be scheduled for a simple paramedic exam – at no cost to you – in the convenience of your home.

Does this product have a guarantee?
Our Whole Life Insurance for Children policy has a 30-day, money-back guarantee.

What is my next step?

If you’ve determined that an affordable whole life insurance for children policy is right for you, call us at 1-888-630-5000 or schedule an appointment with an SBLI life insurance professional.