What is the advantage of adding a children's term rider to a life insurance policy?

The advantage of adding a children's term rider to a life insurance policy primarily lies in the ability to convert it to permanent coverage without requiring evidence of insurability. This feature is significant because it allows parents to secure their children's insurability at a young age, even if health issues arise later on. Upon reaching a specified age, the child can convert the rider into a permanent life insurance policy without needing to provide medical proof or undergo underwriting. This flexibility is valuable for ensuring that children have lifelong coverage regardless of any future health changes.

The other aspects of the choices do not accurately reflect the primary benefits of a children's term rider. While riders can offer some form of coverage for each child, their premiums typically apply collectively rather than individually, making the individual coverage aspect less impactful. The requirement for premiums often comes into play regardless of the child's age in relation to coverage features, and the rider does not contribute to the policy's overall cash value since term insurance is not designed to accumulate cash value like permanent insurance products do.