Apple care for family

I have 2 children for which I’d love to have apple care for. I plan to upgrade them every year so I don’t need 2 years of apple care. Paying monthly for apple care with separate apple ids is a hassle as I have to save my card on their phones which leaves me vulnerable to unwanted spending. I also can’t see when the apple care will be billed unless I use their phones. Is there any hope for being able to track and pay the apple care subscription using family sharing?