Baby Life Insurance / Savings Plans

Has anyone purchased life insurance for their little one and what benefits did you see from it as they got older? Does it have a cash value that they can borrow from after 18 years of age for things like school, emergency funds, etc.? What insurance would you recommend that you’ve been satisfied with? I plan on starting her savings plan for college funds with my local bank or credit union but I’ve heard there’s other programs for that with better rates? Any recommendations?