What is the function of a child rider in a life insurance policy?

The function of a child rider in a life insurance policy is to offer term coverage on the life of the insured's children, typically at a lower cost than a standard policy. This rider is an add-on to the primary life insurance policy, and it allows the policyowner to obtain coverage for their children without the need for a separate policy.

One of the key features of this rider is the conversion option, which allows the coverage to be converted to a permanent policy at a later date, usually without the need for a medical examination. This is particularly beneficial because it provides financial protection for the family in the event of a child's untimely death, while also allowing for future planning regarding the child's long-term insurance needs.

In contrast, other options outlined do not accurately describe the comprehensive intent of a child rider. For example, a child rider does not primarily ensure whole life insurance only based on the child's health status, nor is it limited to providing only accidental death coverage. Additionally, while a child rider does not directly cover a spouse, it focuses solely on the children of the insured, making option B the most accurate representation of the child rider's purpose in a life insurance policy.