The children's honoring their parents will lead them to have a high regard for their parents' relationship with God. This honor is the glue that will keep the covenant relationship intact. It will deeply affect future generations. The parents of this generation of Jews were responsible for teaching them the Torah, the Sinai covenant, because within the terms of that covenant God was offering the choice of life over death. Moses is speaking about quality of life as well as length of life on this earth.
Children experience quality of life as they learn how to live within a solid family structure.
They learn to honor God and their parents as they watch their parents honor God. They learn to trust God for all their needs as they watch their parents trust God. The love and commitment between God and the family is at the core of the covenant community. With all that in place, God promises to pour out his blessings. The precious Son Jesus confronted the Pharisees of his day because they had set this commandment aside to observe their own traditions.