Juvenile Life insurance is life insurance purchased for a child. You may wonder why would a child need life insurance. Such life insurance policies can be used to pay for final expenses in the tragic circumstance of the death of a child. More importantly they establish a life insurance policy that can grow and accrue cash value for that child into adulthood. Also when a juvenile life insurance policy is purchased at a very young age, the life insurance company will usually guarantee the child the right to buy more life insurance later in his or her life at regular intervals without providing any medical background or being subject to a medical exam. In other words, once you establish the policy, you are guaranteeing your child's right to buy more life insurance with no medical exam and without having to answer any health questions. If your child should become ill, or uninsurable later in life this guarantee could be the only means to obtain life insurance coverage needed when the child becomes an adult. Moreover this is a great way to obtain a Permanent Life insurance policy at a very low rate. Permanent life insurance rates are significantly lower for children, who are obviously younger and healthier than adults. The earlier you start a permanent life insurance plan the lower the total of the payments will be over one's lifetime, and the greater the cash value will grow.