Get the lowdown on life insurance for children

Protect your children if they suffer from an injury or illness. Life insurance can help cover medical costs, childcare and tuition fees.

Taking out life insurance for your children is a financial safeguard for you and your family if they were to experience an injury or illness. A convenient feature of generic life insurance policies (that you take out for yourself) is the option to add children to your policy. Read on to see how it works and which policies cover children as well as adults.

Is children’s life insurance essential for your family?

It's understandable if discussing life insurance for your children is uncomfortable. However, there are a few reasons why it is never a bad idea to purchase life insurance for your children.

  • Children cover can be added on to your cover. Not all providers offer this benefit. We looked at 16 policies and found just 4 give you the option of adding children to your policy.
  • Reduces financial burdens incurred by sickness or accidents. It might be a depressing thought, but being sick and getting involved in an accident is a probability in life. It could happen to anyone and no one is exempt, not even your children. This could mean extra medical care and purchasing medical equipment needed for rehabilitation - a financial burden can be relieved if your child is properly covered.
  • Replaces lost income. When your child’s sickness becomes longer than you expected and your presence is called for, there is also the possibility that you or your spouse will take a leave of absence from work for an indefinite period of time if both of you are working. No work, as everybody is aware of, generally means no income. Having children’s life insurance cover the added medical expenses will ease you of your fears how to sustain your daily expenses.
  • Takes care of the final expenses. Death is scary but is also a reality of life. The death of your child can cause you great emotional and financial stress. It might be difficult to deal with the loss emotionally, but there is something you can do about it financially. Dealing with half of the problem is a big help – a priceless one that you cannot ignore.
  • With the rising costs on every commodity, funeral expenses are also always on the rise - If you are not prepared for it, you might find yourself being in debt by just burying your child.
  • Can be used as collateral when your child takes out a mortgage. Some life insurance policies can be used as collateral when you want to secure a loan. This can be helpful to your children in the future when they are applying for a loan.

Compare Life insurance for children

9 of 9 results
Finder Score Maximum Cover Funeral Benefit Optional TPD Cover Optional Trauma Cover Offer
Finder score
Maximum Cover
No set limit
Funeral Benefit
$25,000
Optional TPD Cover
$3 million
(maximum cover)
Optional Trauma Cover
Yes
⭐ Current offer: Get up to 15% off your TAL Life, Trauma or TPD insurance policy for life - if you have a Body Mass Index (BMI) between 19 and 28 at the time of your application. T&Cs apply.
Our verdict: One of Australia's leading life insurers. Automatically includes child critical illness cover. Plus, it comes with a level premium option (e.g. costs remain similar as you get older).
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Finder score
Maximum Cover
$2.5 million
Funeral Benefit
$15,000
Optional TPD Cover
$1.5 million
(maximum cover)
Optional Trauma Cover
Yes
⭐ Current offer: Get a 10% discount if you're already a Medibank Health Insurance member. T&Cs apply.
Our verdict: Medibank offers a higher payout limit ($2.5 million) than 15 other providers. It also won Most Loved, Best Value and Legendary Service categories in the Finder 2024 Customer Satisfaction Awards.
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Compare product selection
Finder score
Maximum Cover
$1.5 million
Funeral Benefit
$15,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
Yes
⭐ Current offer: Enjoy 1 month free in the first year. Apply by Nov 30, 2025. Use code AHM1MF. T&Cs apply.
Our verdict: ahm offers a simple application process. Be approved online or over the phone. No medical or blood tests needed to apply.
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Real Life Insurance logo
Finder score
Finder score
Maximum Cover
$2 million
Funeral Benefit
$20,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
Yes
⭐ Current offer: Get 10% cash back of the premiums you've paid after your 12-month anniversary with The Real Reward™. T&Cs apply.
Our verdict: The application is simple; it can be done with 1 phone call and there are no medical exams.
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NEOS Life Insurance logo
Finder score
Finder score
Maximum Cover
$5 million
Funeral Benefit
$25,000
Optional TPD Cover
$3 million
(maximum cover)
Optional Trauma Cover
Yes
More info
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ClearView Life Insurance logo
Finder score
Finder score
Maximum Cover
$20 milliion
Funeral Benefit
$25,000
Optional TPD Cover
$5 million
(maximum cover)
Optional Trauma Cover
Yes
More info
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Kogan Life Insurance logo
Finder score
Finder score
Maximum Cover
$1 million
Funeral Benefit
$10,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
Yes
Our verdict: Children’s cover can be added to your policy – most providers don’t offer this. With Kogan, expect an easy application process with no medical test.
More info
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Guardian Life Insurance logo
Finder score
Finder score
Maximum Cover
$1.5 million
Funeral Benefit
$15,000
Optional TPD Cover
$1 million
(maximum cover)
Optional Trauma Cover
Yes
Our verdict: Competitive cover limit of $1.5 million. You can add children’s cover of up to $50,000 – many policies don’t include this option.
More info
Compare product selection
Resolution Life logo
Finder score
Resolution Life Life Insurance
Finder score
Maximum Cover
No set limit
Funeral Benefit
$20,000
Optional TPD Cover
$5 million
(maximum cover)
Optional Trauma Cover
Yes
More info
Compare product selection
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Showing 9 of 9 results

Finder Score - Life Insurance

Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 30 products and gave each one a score out of 10.

But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.

Read full Finder Score methodology

Why compare life insurance with Finder?

  • You pay the same price as buying directly from the life insurer.

  • We're not owned by an insurer (unlike other comparison sites).

  • We've done 100+ hours of policy research to help you understand what you're comparing.

Who offers life insurance options for children?

BrandWhat's the benefit called?Child cover amount*Claimable events
Children's Insurance
$20,000 - $50,000
14
RACQ
Children's Trauma
$15,000 - $50,000
7
Children's Insurance
$20,000 - $50,000
15
Child's Critical Illness
$10,000 - $200,000
21

*Conditions apply. Check the policy disclosure statement (PDS) before purchasing cover.

How to purchase life insurance for your children

Children’s life insurance is basically to cover your child for sickness and accidents. Most insurance providers offer child insurance as an additional feature when you get your own life insurance.

Getting life insurance for your kids is easier because most insurance providers do not require medical or blood tests. Moreover, children’s life insurance is much cheaper than adult insurance because of the fact that kids have longer life expectancy.

Children eligible for this type of insurance are between the ages of 2 and 17 and a citizen of Australia.

So how long does the policy last?

Children’s life insurance benefits automatically expire when your child turns 21. However, an option to convert this into an adult life insurance policy is given by most insurance providers when your child reaches a certain age which is usually at 18 years old.

Speak to a trusted advisor to find a policy best suited to your family's needs

Frequently asked questions

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Editor

Richard Laycock is Finder’s insights editor after spending the last five years writing and editing articles about insurance. His musings can be found across the web including on MoneyMag, Yahoo Finance and Travel Weekly. Richard studied Media at Macquarie University and The Missouri School of Journalism and has a Tier 1 Certification in General Advice for Life Insurance. See full bio

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James Martin was the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime 7 News, Insurance News, 7NEWS and The Guardian. An experienced journalist, James' work has featured in publications including The Irish Times, Companies100 and In Business. He holds a Tier 1 General Insurance (General Advice) certification and a Tier 1 Generic Knowledge certification, both of which meet the requirements of ASIC Regulatory Guide 146 (RG146). See full bio

James's expertise
James has written 185 Finder guides across topics including:
  • Car, home, life, health, travel and pet insurance
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