A parent can spend a few dollars a month and have a child rider attached to their life insurance policy and provide a small term life insurance policy for their child.
Or you could spend a bit more and purchase a whole life insurance policy or other cash value life insurance policy and create the first building block in a financial plan for your child's future.
A big thing to consider with a child's life insurance policy is buying the future insurability option. What this does is take away an insurance company's ability to say "no" to your child later on in life if they wish to purchase additional life insurance coverage with their current policy.
Life insurance for kids can provide coverage to pay for final expenses, guarantee your child's rate for life, and provide lifetime protection, as well as, allowing your child to add additional life insurance to their policy in the future.
Here's how to get life insurance for kids.