Each year the government (the USDA to be exact) publishes how much it costs to raise a child to 18. The number is staggering. It’s more money than most of us can imagine coming up with, which is why life insurance is so important. You can cover that sum—$233,610—for a modest monthly premium. A healthy 30-year-old, for example, can get $250,000 of term life insurance coverage for 20 years for about $13 a month. That is a small price to pay for both peace of mind, and having your child be OK financially if something were to happen to you.