Should I buy life insurance for my child

Ensure approval for adult life insurance coverage That's why it's a good idea to purchase a whole life insurance policy when your child is young and healthy. If your child develops a medical condition or poor health later, he or she won't lose the coverage obtained as a kid.

What age is best to get life insurance?

As we age, we're at increased risk of developing underlying health conditions, which can result in higher mortality rates and higher life insurance rates. You'll typically pay less for term life insurance at age 20 than if you wait until age 40. Waiting until age 60 usually means an even bigger increase in price.