Cost estimator
What does whole life on a child actually cost?
Pick an age and a coverage amount and you’ll see the monthly premium, the year it becomes paid up, and what the plan is projected to hold at 18, 25 and 40. No email needed to see it.
Your child
Estimated cost for your child
$103.67a month
About $3.41 a day.
- Coverage, for life
- $100,000
- Paid up at age
- 22
- Total paid in by then
- $24,880
- Projected value at 18
- $20,301
- Projected value at 25
- $34,276
- Projected value at 40
- $71,258
- Value passes what you paid in around age
- 18
$103.67 a month buys your child $100,000 of coverage for life, paid up at age 22, with roughly $34,276 of value inside the plan by 25.
An estimate for discussion, not a quote. Projected values assume a 5% dividend scale and are not guaranteed — the insurer sets that scale each year and it can change.
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Call and ask whether this is even right for your family. We’ll tell you if it isn’t.
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How this is calculated
- Premiums are modelled from typical Canadian participating whole life rate ranges for juvenile issue ages, not from one insurer’s rate card.
- Cash value assumes a 5% dividend scale with the slow early-year build that is normal in these contracts. Dividends are not guaranteed.
- A 20-pay design means premiums stop after 20 years and coverage continues. Paying over life costs less monthly but never ends.
- Real pricing depends on the insurer, the child’s health, and any riders. We quote the carriers we are contracted with and show you the illustrations directly.
A named advisor, not a call centre
Johnathan Pollock reviews every plan personally. You always know who you are talking to.
Licensed in Ontario and New Brunswick
Life-licensed and investment-registered. Policies are issued by the Canadian carriers we are contracted with.
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Common questions
- How much does whole life insurance cost for a child in Canada?
- Participating whole life on a healthy young child commonly runs about $50 to $250 a month, depending on the coverage amount and whether premiums are paid over 20 years or spread over life. A 20-pay design on $100,000 of coverage for a toddler typically lands near the middle of that range.
- Is a 20-pay policy better than paying for life?
- For a child, usually yes. Premiums stop after 20 years — before they finish school — and the coverage continues for the rest of their life with nothing more owed. Paying over life costs less per month but never ends, and the cost follows them into adulthood.
- Why is the cash value so low in the early years?
- By design. Very little of the first few premiums lands in cash value, which is what makes lifetime guarantees priceable. If there's any chance you'll want the money back within ten years, this is the wrong product for you.
- Is this estimate a quote?
- No. It is modelled from typical Canadian participating whole life ranges for juvenile issue ages. Actual pricing depends on the insurer, the child's health and any riders. We quote across the carriers we're contracted with and show you the illustrations directly.