Question

What is the name of the insurance policy that can be purchased at birth, providing financial benefits later in life?

Answer 1

The insurance policy you're referring to is commonly known as a "whole life insurance policy" or a "child life insurance policy." These policies can be purchased for children at birth and typically provide a death benefit as well as a cash value component that grows over time. Some plans are designed specifically for children and can provide financial benefits later in life, such as funding education or serving as a financial asset.