I don't know.
What I do know is that Jesus, while on earth, welcomed and blessed children. There is no indication that these children were only covenant children, the children of believers. Jesus also was the one who gave us that interesting and somewhat perplexing statement in Matthew 18:
See that you do not despise one of these little ones, for I say to you that their angels in heaven continually see the face of My Father who is in heaven.I believe that there is a special place in God's Kingdom for little children. I also believe that there is a special blessing in being born into a family of generations who have followed God. At the same time, I don't think that made me some sort of extra-special Covenant Child, with one foot already in Heaven, so to speak. My way to salvation is the same as the neighbor kid whose parents wouldn't have darkened the door of a church. I still needed Jesus as desperately as she did.
The wonderful difference is that I heard about my need way earlier than she did, and I got to see Jesus' love lived out daily by my parents.
But what about babies? This is not just a theological exercise for me. After losing a child during the second trimester of pregnancy, I wrote:
Will we hold our baby in heaven? My heart cries, "Yes! How could our little babe not be in the arms of Jesus, waiting for us to join her some day?" My mind is not so sure, still trying to deal with the theological implications of infant death. I do know that, when I see Jesus someday, I will rejoice in His justice and mercy...and every one of my tears will be forever wiped away.