What is a children's life insurance rider?

For every parent, children are the most precious thing in the world. So adding a children’s rider to your life insurance is a no-brainer. But how do you make sure your kids are covered, and is it worth it? Here are some of the reasons to consider getting a child insurance rider.

While life insurance for kids is not available as a standalone policy, you can add a rider to your individual life insurance coverage to protect your children. This is an add-on which provides death benefit protection to families with one or more child. 

How does it work?

Your rider can be added to your term life insurance policy. A policy can be issued after the child is 15 days old, up to the age of 18, and coverage lasts until their 25th birthday, or the policyholder's 65th birthday – whichever comes first.

What are the benefits of adding a child rider?

Obviously, the last thing you want is another bill to pay, but the good news is that child insurance riders offer an affordable way to protect your entire family. With Legal & General America, for an annual premium of $27.50 you can receive a $5,000 death benefit, or alternatively, $55.00 will provide a $10,000 death benefit. The cost of the rider remains the same, so you know exactly what you’re paying. Plus, you only need one rider to cover all your children (including future kids!), so you won’t need to purchase a separate rider for each child. Additionally, even if one of your children gets married while the coverage is still active, their coverage will remain active. You also have the option to convert your child’s life insurance to a permanent policy on the policy anniversary closest to their 25th birthday, or your 65th birthday. And while no one should ever have to contemplate the death of a child, your rider can help pay for costs of a funeral or memorial should the worst happen.

Are there any exemptions?

Your rider can be added if you (the policyholder) are between the ages of 20 and 55. It can’t be used in conjunction with other term riders, and you should note that Accelerated Death Benefit on a base plan doesn’t extend to the Children’s Rider add-on. 

Get a quote and add a child rider to your life insurance policy

Let’s face it – no parent wants to imagine life without their children, but adding a child’s rider to your term life insurance is both cost-effective and could support you in hard times. Legal & General America offers competitive rates, giving you extensive life insurance for you and your little ones.