Term life insurance for children? Nobody seems to have this for any sort of reasonable coverage amount

I have $1M life insurance coverage for myself (term 20yrs)
I have $1M life insurance coverage for my wife (term 20yrs)
and somehow only $20k insurance for my 5 year old son.

I have tried to find $1M life insurance for my son, and the best I can do is find whole life insurance which is about TWENTY times more expensive that *my* policy. (I understand the differences between whole life and term, and we're looking for term).

Calling around for term life for my kiddoo and the best I can find is like $50k.

I get that many people are getting life insurance to deal with lost wages, and no, my kid doesn't make any money.

I'm looking for life insurance to help us get through the worst possible things that could happen in our lives. We've had close family who have lost a child, and I can't even imagine surviving that. I can't imagine going back to work, I can't imagine us staying in the house we live in, so having financial protection to help us deal with that seems reasonable.

But I can't find anyone who offers child term life insurance for more than $50k. Is this really something nobody else needs/wants or have I just not searched well enough?

submitted by /u/daveola
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