Life insurance placed on the life of a child, typically 0 to 18 years old. It is advantageous for several reasons: premiums are never lower (since they are based on age), whole life premiums are guaranteed to remain at that level, the cash value also has longer to build and, with the Additional Purchase Benefit, juvenile insurance can be used to ensure future insurability. Premiums are typically paid by the parents, and, very often, by grandparents. Life insurance policies are often gifted to the insured child upon reaching adulthood, marriage, or some other significant event.

Life insurance written on a child.

Life insurance policies written on the lives of children within specified age limits, generally under parental control.