re: Opinions on life insurance for your kids?

My parents did this for my sister and I when we were born, although it was two $10k policies. The plan was (obviously barring death) to give us the policies when we graduated high school either to pay for college or to use however we wanted. I've kept mine and continued to pay them because they cost me $88 a year apiece.
I know the board's opinion of whole life policies, but it is a big relief knowing I can cash those policies fairly easily if I ever came upon hard times, and I am extremely grateful to my parents for giving me that peace of mind. I plan to do the same for my kids one day.
Also guaranteed insurability is nice as well. If anything ever happens (cancer etc.) that would make me unwritable they cannot deny me a new policy when the option comes up (every 3 years in my case). Well worth the extra dollar a month in my opinion.

TL;DR: I'm happy with mine.