Why Would You Get Life Insurance On A Child? 
Primarily for burial costs . I just took out $ 50,000 for $ 5 , one of each kid -LRB- 3 of them -RRB- which I will give to them when they get older . This is more of a gift than anything else . Insurance companies will not allow you to get a large policy on a child unless the parent has at least 3-4 times on themselves . That said , you have to explain why as no one depends on the child as well . 