Everyone has heard the expression “buy life insurance while you’re young”. But what exactly does “young” mean? For some people “young” is 20, for others it’s 40. However, what if your parents bought you a life insurance policy when you were born? Would that make a difference? It absolutely would! Comparing some recent sales, I noticed that $5,000/year in whole life premium gave an infant $1,000,000 of life insurance and it gave a healthy 29 year old less than $400,000 of coverage. That’s a huge difference. Furthermore, juvenile life insurance typically only involves a medical questionnaire and record retrieval, not blood and urine. Lastly, when the child becomes an adult and can begin paying the premium on his/her own, the parents can transfer ownership of the policy to the child, and the child can then make the beneficiaries their spouse, children, or whomever they wish. It really is something that your kids will thank you for later, and likely end up doing for their kids as well.