Even being covered by their parents' life insurance policy under a child rider allows them to purchase (in most situations) up to five times the amount of the life insurance on the child rider, at the Standard rating class, when the child become an adult, no matter what their health is at that time.
So, for instance, if your child is obese, has type 1 diabetes, or congenital health condition that run in your family, getting life insurance on your children before, or in case any of these show up can be a real blessing. This would guarantee your child has life insurance when he (or she) grows up and starts his own family.
In addition, child life insurance plans may build up cash value over time inside the policy, from which a loan may be taken, if needed.
Also, the proceeds from a child life insurance policy may be used for any purpose, including proving for your child's final expenses.
Learn more about child life insurance coverage and how you can apply online for a policy.