There are several very good reasons you may choose to purchase life insurance policies for your children.

For instance, Children's life insurance rates are the lowest there are, and you may be able to start a child life insurance plan for just a few dollars per month.

By locking in a guaranteed rate on whole life insurance protection for the child's entire life, you will never have to worry about medical issues or insurability issues prohibiting your child from qualifying for life insurance in the future, when they need it most.

Parents and later the children themselves, will have the lowest premium guaranteed for the entire life of the children.

Child life insurance policies will accumulate cash value inside the policy over time with whole life insurance, so they can borrow against it for college or even help to fund their retirement.

Consider all of the sick and uninsurable children out there who may one day need life insurance protection for their own children, but would likely be uninsurable when applying for the life insurance as an adult.

Here's how to buy life insurance for your child at affordable rates.