Juvenile life insurance

{
  "id": "MLC-T-INS-003672",
  "term": "Juvenile life insurance",
  "field": "Insurance and risk management",
  "definition": "A life insurance policy purchased on the life of a minor, with a parent or guardian as the policy owner. This type of policy provides a death benefit if the child passes away, and it can also build cash value over time. The policy can be transferred to the child upon reaching adulthood, offering them a head start on financial planning with a policy issued at a younger age and lower premium rates.",
  "url": "https://mlchart.com/terminology/insurance/juvenile-life-insurance/"
}