As parents, we would do anything for
our kids. Photo by Ted Bongiovanni

Life Insurance for a child’s life can be a delicate subject, but can make financial sense, depending on your families financial situation. Insuring a child at a young age guarantees that he or she has insurance now and has the ability to get insurance in the future.

As parents, we would do anything for our kids, but what if the medical expenses were already taken care of and we could concentrate on being our child's soft place to fall?

In the article A detailed look at Canadian Insurance Companies you will find a comparison of three Canada's leading Whole Life insurance carriers for children. For more information on whole life insurance for children, please contact us at 1-866-899-4849 or visit our online Whole Life Insurance Instant Quote Page.

If you are interested in more articles on Life insurance for children, see the articles below!
 

More articles about Life Insurance for Children

• Faith Life Financial – Two Participating Whole Life Solutions

  02/15/2012

  Faith Life Financial offers a prayer for your insurance needs. Photo by Victor Bezrukov Faith Life Financial offers  the following two participating whole life policies:   1. The Whole Life Life Pay plan 2. The Whole Life Life Pay paid-up at 65. Whole life insurance, payable for life, is available to non-smoking applicants age 18 [...]

• Children’s Term Life Insurance

  12/29/2011

  Cover your child with Youth Plus. Photo by Ted Bongiovanni Assumption Life introduced a children's term life policy called Youth Plus. The policy is available to applicants ages 15 days old to 17 years old. The premiums remain level for the insured's lifetime, while the face amount can range from $35,000 to $175,000. There's an [...]

• Assumption Life Youth Plus

  12/15/2011

  Assumption Life has a term life insurance policy for kids. Photo by Kipp Jones Assumption Life recently introduced Youth Plus. It is a term life insurance product designed for children. The policy is available to insure children between 15 days old and 17 years of age. The features on the policy include the following: 1. [...]

• Empire Life’s Insurance Policies

  11/17/2011

  Empire Life's insurance options fit nearly any situation. Photo by alex de carvalho Empire Life offers renewable and convertible Term policies as well as Non-Participating Whole Life policies and Universal Life plans. Empire life's Term 10 and Term 20 policies are convertible to age 75 and renewable to age 100. Both of these features are [...]

• Insurance Policy Claims: The Necessary Steps

  08/18/2011

  After your loved one passes, we'll make it easy to collect on their life insurance policy. Photo by Megan Ann. So something has happened to you or your family, but thank goodness, you have insurance, and now it's time to file a claim. But how is that done exactly? What do you need to do [...]

• Ask Our Experts Your Life Insurance Questions

  06/07/2011

  Our team can answer any question. LSM Insurance has been providing life insurance solutions to Canadians for just under 20 years. Our team of experts helps unravel the mystery of life insurance and answer questions like the following: How much life insurance do you need? What is the best type of life insurance plan? Which [...]

• Life insurance Riders: Facts to Consider

  05/17/2011

  Save money by adding a rider. Photo by Duckie Monster Most life insurance companies in Canada allow the insured to add riders to their life insurance policies. Adding a rider to a policy versus taking out a separate policy can mean substantial savings for the insured. The reason for this is that life insurance policies [...]

• Analysis of Canada Life Universal Life Rate Increase

  04/15/2011

  Canada Life's Universal Life policies are on the increase. Photo by wlodi Canada Life increased rates on its Universal Life Level Cost of Insurance, and Limited Cost of Insurance policies, as of February 7, 2011. The increases followed rate hikes by Manulife, Industrial Alliance, and Equitable Life. Many Canadian insurers have had to re-evaluate the [...]

• RBC Insurance’s Universal Life Children’s Term Rider

  12/09/2010

  Insure your kids early and set them up for life. Photo by Lars Plougmann. RBC Insurance's Universal Life policy is available with a level or increased cost of insurance. Both versions have a Children's Term Rider, which is available to children ages 14 days to 20 years. Benefit amounts are $5,000 to $30,000 per child. [...]

• BankRate.com: Buying child life insurance

  09/18/2010

  
  Photo by Yolanda Fenwick

  Eileen McGeough bought life insurance for her two children after her neighbour's teenage son was killed in a car accident almost 20 years ago. The sudden death and watching the family struggle in the aftermath left McGeough feeling vulnerable. At the time, the young mother knew she wouldn't have the money on hand to bury one of her own children. For $15 a month per child, life insurance gave her some peace of mind.

  "You don't think about these things until something happens," says Caledon, Ont.-based McGeough. "I just got scared and thought, God forbid, should anything happen it would be one less thing you'd have to deal with."

  "People used to use it as an education fund, but it's less likely these days," says Lorne S. Marr, founder of LSM Insurance in Markham, Ont. With the introduction of the Canadian Education Savings Grant in 1998, which matched 20 per cent of a family's contribution to a Registered Education Savings Plan (RESP), the popularity of child life insurance waned.

• BankRate.ca: Student accident insurance

  09/01/2010

  

  Insurance offer round the clock coverage
  This type of insurance not only covers accidents that happen at school, but anytime anywhere, even during summer holiday. Coverage is 24/7.

  "It's a fairly niche product and there are not a lot of companies that offer it in Canada," says Lorne S. Marr, founder of LSM Insurance in Markham, Ont. "It tends to be sold through direct marketing and there is not a lot of broker networking involved."

  Most programs in Canada are underwritten by Vancouver-based Industrial Alliance Pacific (IAP) and Hamilton, Ont.-based Reliable Life Insurance.

  Reliable Life Insurance operates the parent-friendly website, InsureMyKids.com, where families can choose from a variety of plans -- Bronze, Gold, Silver and Platinum. The IAP Kids Plus program includes the Active Plan, as well as the cost-conscious Value Plan.

• BMO’s Children’s Life Insurance Plan

  08/27/2010

  It's a good idea to insure your kids. Family by Ted Bongiovanni BMO Insurance offers a children's life insurance plan sold directly via its call center and not its broker network. The plan is called the “Headstart in Life Plan.” The plan has premiums which start at $7.20 a month. Parents can pay premiums for [...]

• Children’s Life Insurance: Canada Life Increases Maximum Conversion Amount

  06/06/2010

  Protect your kids with Canada Life's Children's rider. Photo by Kipp Jones Protecting their children’s future insurability is a priority for many parents. Canada Life’s child’s term life insurance rider provides increasing term life insurance for children on the policy of an insured parent. All insured children are covered for one low, level price to [...]

• The Wall Street Journal: Nothing Morbid About Child Life Policy

  03/10/2010

  Child life policy. Credit: Eric McGregor For most people, a life insurance policy is a way to protect assets or maintain a lifestyle for dependents when the main breadwinner passes away. This makes such policies for children seem unnecessary and even morbid. But insurance broker Lorne Marr argues juvenile policies can be a financial "gift" [...]

• Desjardin’s Harmony New Generation: Critical Illness Insurance for Children

  02/14/2010

  Protect your kids and get piece of mind photo by Kipp Jones Heaven forbid the unexpected happens: Lung Cancer, Leukemia, Cystic Fibrosis. Critical Illnesses can befall children as well. As parents, we would do anything for our kids, but what if the medical expenses were already taken care of and we could concentrate on being [...]

• 5 Reasons It Makes Sense to Insure Children with Life Insurance

  01/22/2010

  It may make sense to insure your kids photo by Kipp Jones Putting a life insurance policy on a child may seem like just something insurance broker parents do to collect an easy commission. After all, they have no dependents and they're expected to out live those that raise them. Not so fast, there is [...]

• Whole Life Insurance for Children: A detailed look at Canadian Insurance Companies

  12/11/2009

  
  Insure your kids early,
  set them up for life.
  Photograph by Lars Plougmann

  Whole Life insurance can provide a valuable option for individuals looking for lifetime protection, fixed premiums and a tax sheltered savings component.

  Participating Whole Life policies allow the insured to participate in the profits of the insurance company. By taking out a policy on a child, the insurance can benefit in the following three ways:

• Great West Life’s Child Critical Illness Plan

  09/18/2009

  Protect your child's future with Great West Life's Child Oasis   Great West Life has a unique Citical Illness insurance plan for children "Child Oasis". It's designed to provide families with the financial resources necessary to support the recovery and care of a child with a critical condition. It also helps insure their future insurability. [...]

• Moneysense.ca: Parent’s dilemma

  02/09/2009

  The Novaks, have a sick child - and a growing financial problem by Julie Cazzin 2009 Money Sense Novaks are living every parent's nightmare. Two years ago, their 11-month-old son Leo fell sick. He suffered for days with what his parents thought was the flu. Then he developed a rash and began to cry in [...]

• Step Up for the Children

  06/11/2008

  Over 4,000 participants are expected to attend the 26th edition of Step Up for the Children with Standard Life, to be held on Saturday, June 14 on Ile Sainte-Hélène at Parc Jean-Drapeau in Montreal. The event will begin at 8:30 a.m. with the 10-km race, followed by the 5-km family walk at 10 a.m. Event [...]