Most companies offer insurance for children as a rider to their parent’s policy. The requested amount is added to the parent’s policy premium each year. Sample rates for the companies offering this coverage are detailed below. The “Cost/Unit” column illustrates the cost per thousand per year for the coverage while the “# Units Available” lists the minimum and maximum coverage values available.
Generally, the coverage provided is to all dependent children in your household, ranging in age from 6 months to 21 (there are some specific company details). If you request 10 units = $10,000 and the charge per thousand is $6.50, then the annual premium will be $65.00 per year, regardless of the number of children in your household. Please don’t hesitate to contact us with any questions you may have.
|Insurance Company||Cost/Unit||Units*||Insured Issue Age||Child Issue Age||Insured Expiry Age||Child Expiry Age|
|American General Life||$5.00||1-25||20-50||15 days -18 yrs||65||25|
|Assurity Life||$5.50||1-25||18-55||15 days -18 yrs||N/A||25|
|Banner Life||$5.50||5 or 10||20-55||15 days -18 yrs||65||25|
|Lincoln National||$6.00||1-15||20-55||15 days -18 yrs||65||23|
|North American Co for Life and Health||$6.00||5-25||18-55||15 days -20 yrs||65||23|
|Pacific Life||$5.50||1-10||18-55||15 days -18 yrs||65||25|
|Protective Life Ins Co||$5.40||1-20||18-64||15 days -18 yrs||65||25|
|Prudential||$5.15||10-20||18-55||14 days -18 yrs||75||25|
|Transamerica Life||$5.83||1-20||18-55||15 days -18 yrs||65||25|
|SBLI||$6.00||10-25||18-64||15 days -22.5 yrs||65||25|
|Mutual of Omaha||$7.20||1-10||18-55||15 days – 20 yrs||65||23|
* Unit= $1,000
These rates are an indication of cost and are subject to change.
Last Update 8/23/2017
* Arkansas expires at age 23.