Which policy is written on the life of a minor and has a level premium with a death benefit that increases when the minor takes ownership?

Which policy is written on the life of a minor and has a level premium with a death benefit that increases when the minor takes ownership?

• A. Juvenile Life Insurance
• B. Group Life Insurance
• C. Term Life Insurance
• D. Joint Life

Answer: (A)

Juvenile life insurance is a permanent policy issued on a minor’s life with a level premium. A standout feature is that when ownership passes to the child, the death benefit commonly increases, reflecting the transition to the insured adult and the grow­ing insurability and value of the policy. This structure keeps costs affordable now while allowing the benefit to grow later. Other options don’t fit because group life is typically employer-based and not designed for a child with ownership transfer, term life is temporary and generally not written on a minor with an increasing death benefit upon ownership, and joint life covers two lives with a payout on the first death, not tied to a minor’s ownership transfer.

Juvenile life insurance is a permanent policy issued on a minor’s life with a level premium. A standout feature is that when ownership passes to the child, the death benefit commonly increases, reflecting the transition to the insured adult and the grow­ing insurability and value of the policy. This structure keeps costs affordable now while allowing the benefit to grow later. Other options don’t fit because group life is typically employer-based and not designed for a child with ownership transfer, term life is temporary and generally not written on a minor with an increasing death benefit upon ownership, and joint life covers two lives with a payout on the first death, not tied to a minor’s ownership transfer.