Best Children’s Life Insurance Companies of 2024

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In 2024, purchasing children’s life insurance from the best companies ensures future coverage for parents, grandparents, or legal guardians. Generally, the best 2024 children’s life insurance companies offer separate policies for children, unlike child term riders, which are included in an existing policy.

Best Children's Life Insurance Companies of 2024

Moreover, it’s important to remember that child riders may eventually become independent, permanent rules. Additionally, to summarize the list, we evaluate age eligibility, coverage amounts, the availability of obtaining a quote, and buying insurance. Furthermore, we consider other factors, like the capability to increase insurance when the child develops and achieves some significant levels, like marriage or parenting.

Best Children’s Life Insurance Companies of 2024

Technically, children’s life insurance provides financial protection for your family and ensures your child’s future access to the policy. However, it’s essential to research beforehand since multiple companies offer children’s life insurance. Moreover, let’s review some of the best children’s life insurance companies in 2024, as outlined below:

Mutual of Omaha

Mutual of Omaha is a reputable company known for its ability to improve life insurance coverage for children over time. Additionally, it provides an easy underwriting process for life insurance by asking only three health questions to be insured. Also, it is easy to purchase with your phone through online means and has a $50,000 coverage maximum.

Moreover, it offers extra whole life insurance for kids when they reach adulthood or get married, without requesting a medical exam, marriage, home purchases, or child ownership. Furthermore, Mutual of Omaha offers a ninety-day waiver on payments and additional life insurance riders for policy owners who die two years or more after acquiring the policy.


A protective insurance company provides a range of alternatives for children’s life insurance with significant term conversion restrictions. It also presents the cheapest coverage, making it the best children’s life insurance in 2024. Technically, the maximum coverage for recent and future children aged 15-18 years old is $25,000.

Moreover, kids at age 25 will have to change the rider to whole life insurance that exceeds the rider’s amount. It provides paid-up benefits if the insured passes away before children and a convertible children’s term rider. Furthermore, Protective provides whole, universal, and index universal life insurance.

State Farm

State Farm is rated as the highest grade from AM Best with an A++, making it the best children’s life insurance for financial security. This policy also offers coverage to individuals up to the age of 25 or when they turn 65. Additionally, you can buy coverage up to five times and change it to a whole-life policy after your child becomes an adult.

In addition, State Farm has fewer complaints with the NAIC and provides children with universal and whole life insurance. Furthermore, this insurance is for families looking for permanent coverage or children with a rider due to its higher cost compared to competitors’ term coverage.


Nationwide is a well-known company for children’s life insurance, providing several choices and a convertible children’s term rider. Additionally, the policy provides a universal life policy for children or children’s term rider to your term or permanent policy. The child rider insures kids from 15 days old until he or she reaches age 22 or gets married.

Additionally, AM Best has rated nationwide financial strength at A+ and provides three living benefits for critical diseases with most policies. Even though its term plans might not be as cheap as others, it’s still worthwhile to shop around.

Penn Mutual

Penn Mutual offers a range of permanent insurance plans for children, including whole life, variable universal life, indexed universal life, universal life, and one-year term insurance. The company is deemed the top choice for most policy types due to its extensive coverage options.

Moreover, you can secure coverage with a children’s rider with your policy in the range of $25,000, just like Protective. For this reason, your children can change for a whole-life policy that exceeds five times the rider’s worth on their 23rd birthday. Additionally, Penn Mutual provides high-coverage no-med-exam plans, a convertible children’s rider, lower NAIC complaints, and some dividend-eligible policies.

American Family

The American Family complaint rate was far lower than that of any other company and much lower than anticipated for a business of its scale. Its rate was 85% lower than anticipated, even though the group average was about twice as high.

Technically, DreamSecure Children’s Whole Life covers children up to 17, lower than the group average of 18.6, despite outstanding complaint rates from the American Family. Moreover, the company operates in only 24 states and has significantly lower financial strength, but it does provide online quotes, fewer complaints, and a $25,000 minimum coverage requirement.


Foresters enable you to improve your child’s or grandchild’s coverage with a variety of riders. The benefits offered include a family health rider to cover medical expenses from natural disasters and an expedited death rider. However, if a child dies, the insurer will give an extra 1% (up to $100,000) of the life insurance face value to a charity of your choosing.

Moreover, purchasing an insurance policy for a child enrolls them as a member of Foresters. And at age sixteen, they will be allowed to use the portal and begin going to events. However, applying for coverage online is not an option since a person must assist you. Furthermore, a policy from Foresters called BrightFuture Children’s Whole Life offers coverage ranging from $5,000 to $75,000.


Aflac offers comprehensive whole and term life insurance policies, making it the top choice for children’s life insurance in 2024. Technically, children aged 14 days to 17 years can purchase any policy, with coverage amounts ranging from $10,000 to $30,000. To get an estimate and apply for coverage, you will need to consult with an Aflac representative, as the insurance company does not provide online quotations.

Moreover, the whole-life option offers lifetime coverage, just like other permanent insurance, even when the child experiences health issues later in life. However, the youngster is protected by Aflac’s term life insurance until they are 25 years old. Furthermore, young adults can convert their current coverage, worth up to twice the face amount, into a whole-life policy without undergoing a medical examination.

Gerber Life Grows Up

Gerber Life’s Grow-Up Plan has the highest rating for many reasons. The company had the highest financial stability among the group, with a maximum age restriction of 21, and online quotations were available. Furthermore, when the child turns 18, the plan’s coverage immediately doubles without changing the payment.

Therefore, when the insured kid turns 18, $50,000 in coverage becomes $100,000. However, despite receiving a high rating, Gerber’s Grow-Up child life insurance experienced a higher number of complaints than expected for a large-scale business. Furthermore, the company offers online child life insurance quotes and automatically doubles coverage at age 18, but has a lower maximum coverage amount and more complaints than expected.

Globe Life

Globe Life offers a life insurance policy to adult children from birth up to age 25. Generally, Globe was one of just two insurers that offered coverage for young people in their 20s (the other insurer’s cutoff age was 21). Moreover, the day you purchase the policy, your children will be fully covered, and the application procedure is simple.

However, Globe’s complaint rate was far higher than one might anticipate for a business of its size. Furthermore, it offers affordable life insurance for children aged 21–25 with no waiting period, a high complaint rate, and a lower maximum coverage amount.

Major Benefits of Children’s Life Insurance Companies in 2024

Children’s life insurance usually consists of whole life insurance, much like adult coverage. Certain companies provide universal life or independent term life insurance. Moreover, a feature of both kinds is “cash value,” which is an investment that may be taken out for any reason. In the event of the child’s death, the beneficiaries get the death benefit from the insurer tax-free.