Which insurance product is intended for minors to provide coverage throughout their life?

Juvenile insurance is specifically designed for minors, providing them with life coverage that extends throughout their lifetime. This insurance product is set up to ensure that children are financially protected from a very young age, allowing them to potentially build cash value over time, which can be accessed in the future or used for other financial planning needs. The premiums for juvenile insurance are typically lower when purchased at a young age, and the policy usually guarantees insurability for the child as they reach adulthood, regardless of any health changes that may occur.

While other options may sound relevant, they do not accurately capture the specific intent and features of juvenile insurance. Minor's policy and child policy can be terms used interchangeably but are not universally recognized in the same way as juvenile insurance, which is a well-defined product catering to the specific needs of young individuals and their families. Life insurance is a broader term that applies to coverage for individuals of any age and does not specifically target minors.