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Top Child Life Insurance Companies

You might be surprised to find out that you can buy life insurance for your children. Indeed, you can guarantee their well-being from a tender age and enjoy the numerous benefits that come with it. However, it is even more vital to purchase such from the top child life insurance companies. 

Top Child Life Insurance Companies

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In this post, you’ll get full details on the top child life insurance companies. Also, you’ll get information on their services and modes of operation. It is a highly educational post so ensure you remain with it to the end. 

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Below are the top child life insurance companies to buy from today:

Globe Life

Globe Life Insurance Company has been in business since 1900. It presently has an A rating from AM Best and services over 16 million customers. It has various life and mortgage insurance policies. 

Its characteristics include a straightforward application process, lack of a waiting period, and the lowest locked-in rates for infants. This makes it the best for babies.

Globe Life offers no-medical-exam whole life insurance that you can acquire entirely online. 

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Firstly, they need to interact with a doctor or an insurance agent. From 0 to 24, it provides coverage, with death benefits ranging from $5,000 to $30,000. 

Furthermore, there is a cash value that grows over time. There is no need for a medical exam, and coverage is available on the first day of your insurance.

It has the cheapest rates for babies, according to our research. Another benefit of Globe Life’s locked-in rates is that your child’s premiums will not increase. 

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However, this is until they reach the age of 24. To sweeten the deal, Globe Life’s first-month premium is only $1.

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Mutual of Ohama

Mutual of Omaha, which began in 1909, was one of the first companies to offer non-professional workers disability insurance. The company now offers term, whole life, and Medicare supplement insurance, and it has an AM Best A+ rating.

Mutual of Omaha has a unique underwriting history, low premiums, and speedy application procedure.

It offers whole life insurance for children from 14 days to 17 years old. 

Additionally, there are death awards ranging from $5,000 to $50,000. You can get a quote and apply for insurance online in minutes by providing basic information. You’ll just need to answer a few health questions, and you’ll require no medical examination.

Each policy has a paid waiver of premium rider that you can add to a child’s life insurance policy. It will ensure that the company fulfills premium payments if they become disabled as adults. There is no medical checkup required to apply for insurance.

Mutual of Omaha also boasts among those offering the lowest premiums for children’s life insurance. This is due to a child’s birth or adoption for people aged 25, 30, 35, and 40.

State Farm

State Farm began in 1922 as an auto insurance company but has expanded to include insurance, banking, and financial services. The company gets an A++ (Superior) financial strength rating from AM Best. It makes the list as the best option for comprehensive family coverage with its rider add-on for children.

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For term, whole, and universal life insurance contracts, State Farm offers paid add-on riders. For example, the Children’s Term Rider allows you to add as many children as you want to your existing policy. Adding more children brings more beenfits as you’ll get up to $20,000 in death benefits per child.

You can add children before they are born, and it will cover them automatically at 15 days old. When each child reaches the age of 25, or if the primary policy expires, this term coverage will terminate.

When a child reaches the age of 25, they can purchase Children’s Term Rider to permanent insurance. State Farm does not require a medical checkup, as does most children’s life insurance.

You’ll need to contact your local State Farm agent for an exact estimate. State Farm’s website estimates a monthly cost of less than $5 for $10,000 of coverage for each additional child.

Foresters

There aren’t always a lot of alternatives and perks when it comes to getting life insurance for children. Foresters Financial, on the other hand, isn’t like that.

Guaranteed insurability, terminal illness death benefit, common carrier accidental death benefit, and family health benefit are present at no additionals. Again, Forester’s whole life insurance for children is up to $75,000, with four valuable riders available at no additional cost. 

For children who have lost one or both parents, it could be very hard. It offers orphan benefits and scholarships, local branch membership, online legal document preparation services, and community grant opportunities. Again, there are member discounts on family-oriented activities and shopping.

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Garber Life

Gerber is a well-known baby food company with a memorable logo that millions of people recognize. It provides life insurance to children and has an A rating from AM Best for financial strength.

Gerber was chosen as the top college savings option because it offers life insurance with a guaranteed payout after the term, which you may use to pay for your child’s college tuition.

Gerber’s Life College Plan costs vary depending on your age and that of your child. Once you’ve input your information, you can choose a policy term between 10 and 20 years. 

Furthermore, you can adjust the amount you want to put into the account every month. This method gives you unrivaled control over your monthly payments.

 

Thrivent

Thrivent Financial began as a Lutheran insurance company in 1902. The organization now offers a comprehensive range of financial services, investments, insurance, and banking programs. 

Thrivent is a pick for the best value. This is because it offers flexible, low-premium, whole and term life insurance for children.

Thrivent’s juvenile life insurance is comparable to many other whole life children’s policies. It is accessible to youngsters aged 14 to 17. The insurance has fixed rates that won’t increase until you’re 70; hence it accumulates cash value

There is no medical checkup required to apply for insurance. Sadly, you must request that a representative contact you by phone or email to discuss policies and pricing. According to the website, a $25,000 policy for a one-year-old boy will cost only $12 per month.

 

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