Abstract: The present invention provides methods and systems for providing juvenile insurance having a waiver of premium feature at a premium or death benefit computed based on a variable that is not directly dependent on the age, health, or gender of the initial owner or payor. In one embodiment, the premium or death benefit are computed based at least in part on a payor's affiliation with a group of acceptable payors marketed for juvenile insurance by an insurer, and a probability associated with an incidence of an event that triggers the waiver of premium feature occurring to an individual of the group or a subset of the group.