For Canadian families
How Much Does Life Insurance for a Child Cost in Canada?
Licensed insurance advisor · Updated October 2026
Most Kidsurance® plans start at $100 a month, and you choose the amount. What you pay depends on your child's age, their health, how much coverage you want, and how long you pay for. Here's how each one works, in plain language.
The short answer
There's no single price for children's life insurance, because you set the amount. Most parents I work with land somewhere between $100 and $400 a month per child.
That range isn't a quote. It's what families tend to choose once they see what each level does. Your actual premium is set by the insurer after you apply.
What sets the price
| Factor | How it affects the price |
|---|---|
| Your child's age | Younger usually means a lower price for the same coverage. Insurers use age nearest birthday, so the price can change about six months before an actual birthday. |
| Your child's health | Kids are usually in great health, which is part of why plans are priced well when they're young. The application asks a few health questions. |
| How much coverage you choose | More coverage means a higher monthly amount. You pick the level that fits your budget. |
| How long you pay | Plans like this are paid over a set period, up to 20 years. After that, no more payments are required, and the coverage continues for your child's whole life. |
Why starting young matters
Two things work in your favour when your child is little.
- The price is set by their age when the plan starts. Once it's in place, it stays level for the payment period. It doesn't go up as they get older.
- Coverage depends on health. Most kids qualify easily today. Later in life, a health change can make coverage harder to get, or unavailable. Starting young secures it while it's simplest. Every application is still reviewed by the insurer, so approval is never automatic.
There's no wrong age to start. But each half-year that passes can nudge the price up a little.
What you get for that monthly amount
A participating whole life plan does two jobs at once.
- Lifelong coverage. Your child is insured for their whole life, locked in while they're young.
- Cash value they can use as adults. Part of what you pay builds cash value inside the plan. Later, it can help with a first place, a business, or a tough year.
The plan can also earn dividends. Dividends are not guaranteed and can change over time, which affects long-term values. I'll walk you through how that works with your own numbers, never a promise.
How to choose an amount that feels right
Pick a number you'd be comfortable setting aside every month for the full payment period, even in a tight year. A plan you can keep beats a bigger one you stop.
Most families start in one of three places:
| Start | Monthly, per child | Who it suits |
|---|---|---|
| Steady Start | About $100–200 | A meaningful foundation that fits most budgets |
| Strong Start | About $200–400 | What most families choose |
| Strongest Start | $400+ | Parents who want the fullest head start |
With more than one child, many parents start everyone at the same level so it feels fair. You can adjust before anything is finalized.
Questions parents ask about cost
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See your child's planKeep reading
Can You Get Life Insurance for a Child in Canada?
Yes — and the reasons parents do it usually surprise people.
Read →What Is Insurability?
The part of the conversation nobody has with parents — and why timing matters.
Read →Children's Whole Life Insurance: Honest Pros and Cons
Both columns, straight — from an advisor who set it up for his own kids.
Read →This article is general education, not personalized financial or insurance advice. Products described are participating whole life insurance plans issued by The Canada Life Assurance Company. Monthly amounts shown are typical ranges families choose, not quotes. Dividends are not guaranteed and can change over time. Whether a plan suits your family depends on your circumstances. Adrian LeRoy is a licensed insurance advisor in Ontario and New Brunswick.