Ibn Qayyim رحمه الله said :

“And it shouldn’t be deemed as far off that this (i.e the aqeeqah) is a means of protection for him (i.e the child) from the Shaytan after his birth. Similarly, mentioning the name of Allah at the time of the fluid entering into the womb is a means of protection for him from the harm of the devil. Thus, it is rare to find someone who their parents abandon performing aqeeqah for him except he has been stricken by the Shaytan. And [in all cases] the secret wisdoms of the legislations are far greater than this.”

Translated by

AbdulFattaah Bin Uthman
Abu Fajr