1. Mutual of Omaha
It is quick and easy to sign up for the insurance policy of Mutual of Omaha, which only requires a simple health questionnaire instead of medical tests. Benefits of Mutual of Omaha can be as high as $50,000 for children as young as 14 days old. This insurance policy can also be turned into a savings vessel upon the day when your child reaches 18 years old. Mutual of Omaha is a nationwide life insurance policy that we recommend for your children.
The premium of the life insurance plan from Thrivent is the most competitive one in that it only charges $12 per month since the 14th day after the birth of your children until they turn as old as 70. Shorter term life plans of 10 to 20 years are also available if parents have different needs.
3. Globe Life
In order to be qualified for the life insurance coverage of Globe Life, all you need to do is sign up for the coverage online for about 10 minutes. None of medical questionnaire or test will be required for your children. Globe Life, a trouble-free choice for your children.
4. Gerber Life College Plan
For parents who want to save to fund a college education for their kids, the Gerber Life College Plan should be most viable choice since it ensures that a certain rate of return will be funded regardless of the fluctuation of the stock market.
5. State Farm
The standout feature of State Farm is that it offers a package plan for the whole family. State Farm’s Children’s Term Rider adds up to $20,000 in life insurance coverage for each child in your family. Policies will be available as soon as your children turn 15 days old until the day when they turn 25.