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ARTICLE · 27 MAY 2025

Yes, Life Insurance For Kids: Here's Why It's Smarter Than You Think

Lawyers Financial
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Let's be honest, buying permanent life insurance for a toddler isn't exactly instinctive. So why are more Canadian families buying it for their children? We asked Lawyers Financial...

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Lawyers Financial
Lawyers Financial
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Let's be honest, buying permanent life insurance for a toddler isn't exactly instinctive. So why are more Canadian families buying it for their children? We asked Lawyers Financial insurance advisor, Daniel Cheung. Dan and his wife have a six-year-old daughter and four-year-old son, and, you guessed it, they already have permanent life insurance in place for both kids.

Q. Okay, Dan, just how young were your kids when you purchased these policies?
A. It's funny. With our daughter, we got her RESP, life insurance, all that stuff set up right at birth. As soon as we had her SIN card, we were on top of it. But I'll admit that "second child syndrome" is a thing. Our son was almost three by the time we got his policy. He was a Covid baby, so his forms took longer than normal—his birth certificate didn't arrive until a month after his 1st birthday.

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