I have a client that wants to cover her 11 year old daughter with a term or whole life policy. I have never wrote a policy on just a kid, just riders. Im with AIG and Genworth and need to find something to get the daughter covered on?
A lot of companies have simplified issue whole life policies for children usually with face amounts of $10,000 or $20,000.
Also, can consider writing a Universal life for face amounts of $25,000 to $50,000.
There are a number of reasons to insure the life of a child; burial costs, replacement income for the parents while unable to work because of the grief of losing a child or paying for another child's college education or just a few of the reasons to insure the child.