0808 189 0463


        0808 189 0463

        Updated: April 17, 2024

        Whole Life Insurance for Children

        Can whole of life insurance be set up for a child? Yes! Find out exactly how this works in this in-depth guide

        Ask a quick question

        We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in whole of life insurance. Ask us a question and we'll get the best expert to help.

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        As a parent, your child (or children) may very well be the most important thing in your world. In this article, we discuss whole of life insurance policies for children.

        Considering whole life insurance for your kids? Save time, hassle and money by talking to one of the experts we work with. They will be able to answer all your questions straight away and tell you how to get the right policy for the best price.

        Call 0808 189 0463 or make an enquiry for a free, no obligation chat.

        All the experts we work with are totally independent with access to insurance providers across the entire UK.

        What is children’s whole of life insurance?

        Whole life insurance policies for children are a kind of product which you can take out for your child, that will cover them for the whole of their life.

        Whole of life insurance is sometimes known as ‘life assurance’.

        The main benefit is that your child is protected for the rest of their life, even if they later develop a condition which would have made it harder for them to get insurance, or increased their premiums.

        Please note that we’re not referring to family life insurance that also covers your child, or making your child a beneficiary of your life insurance policy.

        Whole life insurance for children is rarer and can cost more

        Life insurance for children is relatively rare, because in most cases, children are not a source of income for their parents. As such, not all insurers offer it and whole of life cover for children is rarer still.

        And, when compared with term-life policies for children (ie. one that covers your child until they turn 18), whole life can be a lot more expensive, simply because it lasts longer.

        As such, it’s such a niche area of insurance that you may struggle to even find a whole life policy without the help of a specialist broker and if you do manage to find a policy on your own, you may be quoted enormous premiums.

        Knowing that, we’d recommend that you save yourself a lot of time and potential expense by getting in touch – one of the fantastic experts we work with may be able to find just the policy for you.

        Speak to an expert today

        Can I get whole of life insurance for your children?

        If you’re not sure whether you need it, get in touch and one of the advisors we work with will discuss your needs and circumstances to identify whether whole of life insurance for your children is recommended.

        To start with, you can determine this by asking yourself the following questions…

        Is my child eligible?

        For your child to be eligible, they must either be your biological child, legal step-child, or legally adopted by you. They also need to be below the maximum age, which varies between providers and can range from 16-23.

        Pre-existing health conditions may limit the number of policies available, but aren’t usually a deal-breaker. Any hereditary conditions may lead to exclusions being applied.

        If you’re looking for cover, but your child has a condition which you think may limit your options, get in touch – the brokers we work with are experts at finding the right cover when nobody else can.

        What are the pros and cons?

        • Whole of life cover, regardless of what happens: The most obvious main benefit of whole of life insurance for your children is the peace of mind you get from knowing that they’re covered, no matter what happens.
        • You may be able to convert the policy more cheaply later: In many instances, a policy taken out at childhood can be converted once your child reaches adulthood. And the cost of converting an existing policy often works out to be cheaper than the cost of buying a new one.
        • It can be costly: Whole of life insurance is typically more expensive than insurance that lasts for a fixed term, and considering it could last for the whole of your child’s life – that is a lot of payments over time.
        • Cover can be limited: As children are usually classed as financial dependents, the payout that you’re likely to get is a lot lower than what would be available for an income earner.

        Suitability depends on your own individual circumstances so we recommend speaking with one of our experts who can establish what is right for you.

        Should I buy whole of life insurance for my children?

        This, of course, is down to you.

        Realistically (and thankfully), the chances of your ‘cashing in’ on such a policy are very low. What you’re really looking for is peace of mind that you’re willing to pay a premium for, and the possibility of protecting your child in the long run.

        You may want to consider such a policy if your family has a history of debilitating illness, such as diabetes or heart disease. If you can get cover for your child before they develop any conditions, you could save them an enormous amount of money in premiums over time.

        There is at least one instance in which you should seriously consider life insurance for your child. This is when your child is a major income earner for the family. Of course, this is rare – but not unheard of. Probably the most notable example of this are child stars.

        Speak to an expert today

        If you need some help hunting down the best whole life insurance quotes for children or just want to speak to an expert for the right advice, call 0808 189 0463 or make an enquiry.

        Then sit back and let us do all the hard work in finding the advisor with the right expertise for your circumstances. We don’t charge a fee and there’s absolutely no obligation.

        In such an instance, you would have what is known as an ‘insurable interest’ in your child. This means that you would suffer significant financial loss if they were to pass away.


        Not really. You could buy whole life insurance for your baby, which would cover them through adolescence and into adulthood.

        Again, not really.

        You could buy whole life cover for your child whilst they were of a juvenile age (which is typically defined as someone who is ‘not yet old enough to be considered an adult in the eyes of the law’). This would then go on to cover them once they reached maturity and for the rest of their life.

        Ask a quick question

        We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in whole of life insurance. Ask us a question and we'll get the best expert to help.

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        Pete Mugleston

        Pete Mugleston

        Mortgage Expert, MD

        About the author

        Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

        Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

        FCA Disclaimer

        *Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

        Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.