Why Would Children Need Life Insurance? 
Life Insurance is usually designed based on need . The recovery or protection against a lost asset or income , preservation of your estate from taxes , etc. . The need for children to have life insurance falls into 2 categories : burial expenses ... I recently lost my son , 17 , which we had coverage on him as a child rider , $ 10k which paid for the service/cremation , and the lost income from a month out of work . As a gift . As the cost of insurance is low for children , you can set up a life insurance policy designed to build cash value to use later in life . You not only have the benefit of the death benefit , but more so the benefit of using the life insurance as an asset to draw from in the future . With the compounding you get , the growth can be substantial if designed correctly . 