Children’s life insurance
A way to invest in your child’s future, safeguard your family’s finances and prepare for upcoming expenses—including college.
Providing life insurance for your children or grandchildren helps protect them from potential hardship and prepare them for the future.
Future insurability
Provide the child with the opportunity later in life to maintain (or increase) coverage, regardless of medical history and without providing evidence of insurability.3
Affordable rates
Pay low premiums, due to the child’s age and health status at the time of purchase.
Cash value
Provide the child with a resource that might help cover future expenses—such as college tuition or a home down payment. The contract purchaser may also be able to borrow from the cash value, tax-free.1
Death benefit
If the unthinkable occurs, it can help the child’s family pay medical bills or final expenses—and take time off from work as they cope with their loss.
Future insurability
Provide the child with the opportunity later in life to maintain (or increase) coverage, regardless of medical history and without providing evidence of insurability.3
Affordable rates
Pay low premiums, due to the child’s age and health status at the time of purchase.
Cash value
Provide the child with a resource that might help cover future expenses—such as college tuition or a home down payment. The contract purchaser may also be able to borrow from the cash value, tax-free.1
Death benefit
If the unthinkable occurs, it can help the child’s family pay medical bills or final expenses—and take time off from work as they cope with their loss.
A solution that provides unique
protection opportunities
rates at birth
Newborn children are generally eligible for the lowest underwriting rate available. And they can stay insured at that rate into adulthood.3
Buying children’s life insurance before age 18 may help provide security if the child becomes ill or ineligible for coverage later in life.
With a guaranteed purchase option (GPO), you can add more coverage later without additional underwriting.
rates at birth
Newborn children are generally eligible for the lowest underwriting rate available. And they can stay insured at that rate into adulthood.3
Buying children’s life insurance before age 18 may help provide security if the child becomes ill or ineligible for coverage later in life.
With a guaranteed purchase option (GPO), you can add more coverage later without additional underwriting.
Free learning tool
Enter your current assets, expenses and income. You can also adjust the inflation rate and your expected rate of return to see how these variables could impact your insurance needs.
Ellis Hope and his mom, Lori Hope.
A decision that ensures coverage can last a lifetime
When Thrivent client Lori Hope of Sioux Falls, South Dakota, bought children's life insurance for her son, Ellis, he was a typical teenager nearing his 16th birthday. Eight months later, Ellis was diagnosed with Hodgkin's lymphoma. At that point, the insurance contract took on new significance. Without it, Ellis may have found it hard to purchase life insurance in the future, due to his health history. But with the contract in place, Ellis—now 21 and cured of Hodgkin's—can maintain or increase coverage later in life (as long as premiums are paid), without having to provide evidence of insurability.
Children with diagnosed health conditions that prevent them from qualifying for life insurance may still be eligible for coverage from Thrivent. Clients with membership may purchase up to $10,000 of Whole Life Insurance for their children, grandchildren or great-grandchildren, from birth through age 15.
Restrictions apply. To learn more about this membership benefit and other options that may fit your needs, contact your Thrivent financial advisor.
Contact my financial advisor
Restrictions apply. To learn more about this membership benefit and other options that may fit your needs, contact your Thrivent financial advisor.
Frequently asked questions
Learn more about how this solution can provide financial protection and other benefits during childhood and beyond.
Are there different contract types available?
Yes, you can choose between several options to fit your family's needs, and your Thrivent financial advisor can help you decide which makes sense for you. Check out our article on the advantages of children's life insurance to learn more about contract types.
How much does children’s life insurance cost?
With multiple contract types and payment options available, you have flexibility to find the best fit for your budget. Talk with your Thrivent financial advisor to explore your options.
Are families with a history of health issues eligible?
People can secure permanent protection for children even if they’re born into a family with a history of health issues. As an example, let’s look at Luis and Jordan. They have a newborn baby named Willow. Diabetes runs in Luis’s family and he has relatives who were diagnosed before age 18. Luis and Jordan buy a whole life contract to cover Willow as she grows up. Because the contract offers a guaranteed purchase option (GPO), Luis and Jordan know they can later purchase additional coverage. That would add some cost—but Willow wouldn’t need to be approved through an underwriting process.2
Are there insurance options for children with disabilities or complex medical needs?
Yes, if your child is under the age of 16 and has been denied life insurance, he or she may be eligible for Thrivent’s uninsurable child life insurance membership benefit. Please contact your Thrivent financial advisor for details, or call us at 800-847-4836 and say “fraternal” when prompted.
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1 Removing money from your contract can result in potential charges and income changes that affect your taxes. If you have a modified endowment contract, your actions may not be tax-free. Withdrawing money decreases the contract’s cash value and the value of your death benefit. And can result in a closed account if you withdraw too much. If you remove money, it will take you longer to meet your contract goals. Always talk with your tax advisor and financial professional to learn about those implications up front.
2 Hypothetical example is for illustrative purposes. May not be representative of actual results.
3 As long as premiums are paid. Future insurability exists with the contract purchased as a juvenile, subject to coverage limitations.
Loans and surrenders will decrease the death proceeds and the value available to pay insurance costs which may cause the contract to terminate without value. Surrenders may generate an income tax liability and charges may apply. A significant taxable event can occur if a contract terminates with outstanding debt. Contact your tax advisor for further details. Loaned values may accumulate at a lower rate than unloaned values.
If requested, a licensed insurance agent/producer may contact you and financial solutions, including insurance may be solicited.
Thrivent and its financial professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
Life insurance guarantees are based on our financial strength and claims-paying ability. Your contract will have exclusions, limitations and terms under which your benefits may be reduced, or the contract may be discontinued. For costs and complete details of coverage, talk with a licensed insurance agent/producer.
2 Hypothetical example is for illustrative purposes. May not be representative of actual results.
3 As long as premiums are paid. Future insurability exists with the contract purchased as a juvenile, subject to coverage limitations.
Loans and surrenders will decrease the death proceeds and the value available to pay insurance costs which may cause the contract to terminate without value. Surrenders may generate an income tax liability and charges may apply. A significant taxable event can occur if a contract terminates with outstanding debt. Contact your tax advisor for further details. Loaned values may accumulate at a lower rate than unloaned values.
If requested, a licensed insurance agent/producer may contact you and financial solutions, including insurance may be solicited.
Thrivent and its financial professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
Life insurance guarantees are based on our financial strength and claims-paying ability. Your contract will have exclusions, limitations and terms under which your benefits may be reduced, or the contract may be discontinued. For costs and complete details of coverage, talk with a licensed insurance agent/producer.
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