How do Evangelicals understand "holy children" in 1 Cor 7:14, with respect to the salvation of children dying in infancy?

> For the unbelieving husband is made holy because of his wife, and the unbelieving wife is made holy because of her husband. Otherwise your children would be unclean, but as it is, they are holy. *(1 Cor 7:14, ESV)* If a child dies before being born or dies at a very young age, can we say that he or she is saved? What if one of the parents is a believer? And what if neither of the parents is a believer? What is an **overview** of what Evangelical Christians believe on this matter? Since the verse was not mainly addressing the state of children, what is an overview of how Evangelical Christians understand the thought that the children are holy? How do Calvinists, Arminians, and other Evangelical traditions approach this question?