The price for Whole Life insurance for children varies according to the face amount of the policy (most people buy small policies in face amounts of $5,000 to $50,000). It also depends on the age and sex of the child and which company you use to purchase the life insurance policy. Given all these variables, it is impossible to answer this question with one price, but most policies cost under $25/mo.
In addition to buying a separate plan of insurance for a child you have the ability to add children as a rider to your own life insurance plan ($1,000 to $99,000 per child are Standard options) at a flat rate of about $5/year for every $1,000 of coverage. Whether you have 1, 3, or 10 children, you only pay one premium.
This type of rider lasts until your children reach the age of 18, at which time they can convert it to a Whole Life plan with an option to purchase additional amounts (some companies allow up to 5 times the coverage) without providing any Health Qualification. A nice feature if your child cannot get Life insurance due to Health or is a higher risk.
It is fairly inexpensive coverage. You may want to consider universal life or a child rider if the amount of death benefit is small. The market for child life insurance is sometimes driven by grandparents more than parents. Each life insurance company views child life insurance differently, so it pays to shop around. Keep in mind that life insurance companies take a dim view of parents who place life insurance on their children without having life insurance on themselves.
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This type of rider lasts until your children reach the age of 18, at which time they can convert it to a Whole Life plan with an option to purchase additional amounts (some companies allow up to 5 times the coverage) without providing any Health Qualification. A nice feature if your child cannot get Life insurance due to Health or is a higher risk.