Life Insurance for Newborns

You have the option to buy life insurance for newborns; however, the purpose of life insurance is to prevent dependents from financial hardship if the breadwinner passes away. Therefore, as a parent, you’re better off investing in your own life insurance policy to protect your children. If you really want whole life insurance for your newborn, you can purchase a policy from Gerber with starting rates at $3.75 per month for only $5,000 worth of coverage.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Feb 18, 2021

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Quick Facts

  • It is usually unnecessary to buy life insurance for newborns because they do not make an income and have no dependents. However, parents of newborns should be properly insured
  • A small amount of newborn life insurance coverage may help with funeral expenses or medical costs, should the worst case occur and your child passes away at a young age
  • If you need life insurance for your child, consider adding them as a rider to your existing term life insurance policy

How much life insurance do you need for a newborn child? Life insurance for newborns is usually unnecessary.

The purpose of life insurance is to prevent dependents from financial hardships if the family breadwinners pass away. Newborns do not bring in an income and do not have dependents. New parents should instead ensure they are properly insured to protect the newborn child in case of their passing.

Read our quick guide to learn about family life insurance policies, the best child life insurance plans, and discover what is the right option for your growing family.

Already prepared to buy newborn life insurance? Use our free quote tool above and immediately compare newborn life insurance rates.

Should you buy life insurance for a newborn?

Life insurance for newborns is usually not necessary as they have no financial dependents. Invest the money you’d otherwise spend into a college savings account or your own life insurance coverage to better protect your child.

Funerals cost around $12,000 on average. According to the Federal Trade Commission, a casket alone can cost anywhere from $2,000 to $10,000.

Purchasing a small amount of coverage for your newborn can help with funeral or medical expenses, should the worst-case scenario happen.

However, a life insurance policy for your newborn is not necessarily the cheapest option.

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Your life insurance quotes are always free.

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What is the best life insurance plan for a newborn?

If you need life insurance for your newborn, consider adding them as a rider to your current term life insurance policy instead of buying a separate one. This is the best option available to you.

If you aren’t currently insured, compare term life insurance quotes from multiple providers to find the best policy for you.

What about Gerber life insurance? Gerber is a well-known newborn life insurance company.

The Gerber Grow-Up Plan may be the best whole life insurance policy for children, however, many financial experts agree that it is not a reliable investment.

You’re better off opening a custodial account for their savings, or a 529 plan for college costs.

The Gerber Grow-Up Plan rates start at $3.75 per month for only $5,000 worth of coverage. You can raise the amount but expect higher premiums. The Gerber baby life insurance death benefit doubles when your child turns 21.

If your adult-aged child continues to pay the premiums, they are guaranteed the standard adult life insurance rate through Gerber, regardless of health or occupation.

However, there are three other rating classes cheaper than the standard tier.

On average, only 5 percent of young adults receive worse than standard ratings. Whole life insurance is also more expensive than term policies, even at the standard rate.

Do parents of newborns need life insurance?

Parents of newborn children should purchase proper life insurance coverage. Fortunately, you can easily find term or whole life insurance coverage by using one of the quote boxes available on this page.

In the event of your passing, you want to leave your child with the same level of financial support they would have if you were still alive until they turn 18.

If you make $50,000 and your child is a newborn, invest in a death benefit that is 18 times $50,000, or $900,000.

You are now prepared to choose if life insurance for your newborn is right for your family. If so, start comparing affordable newborn life insurance quotes by using our free tool below.

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