Gerber Life Grow-Up Plan
Getting life insurance for a child is very hard for any parent. It is definitely something that no one wants to think about when you are enjoying each moment with a newborn or toddler.
I had thought about getting this plan for my daughter but put it off for a while. When I finally went to the website to read about the coverage, I decided it was time to purchase the insurance. I signed up online when she was 3 months old. I did this to help her in the future. The first thing that struck me when I went to the GerberLife page was that the coverage you decide to purchase will double when the child turns 21! That would be terrific for anyone to have.
They have many other options for insurance on their page but the grow up plan is the only one I have experience with. You can sign your child up at 14 days old up to 12 years. The coverage options are $5,000, $10,000, $15,000, $20,000, $25,000, $30,000, or $35,000. The premium paid depends on the age of the child. The younger they are when you sign up, the lower the premium. It is also locked in from that date and will not change as the child gets older. With a $35,000 coverage plan, automatically on your child's 21st birthday they would have $70,000 coverage.
Your child would have the option to purchase additional insurance after the age of 21 and 28.
I will give you an example of the premium choices. This are the choices I had for my daughter.
Coverage Payment (monthly)
$5,000 $3.18
$10,000 $6.36
$15,000 $9.54
$20,000 $12.72
$25,000 $15.90
$30,000 $19.08
$35,000 $22.26
These are great prices for insurance! We purchases the $15,000 plan but now we want to increase the amount.
They also have terrific payment plans available. You can pay each month, 3 months, 6 months, or year.
Once purchased you have the option that you can pay through their site or have the payment automatically deducted. I love being able to pay a bill online! It's so easy. They have a simple application to fill out and it can be purchased only by the child's parent or grandparent.
I think this is a great thing and I am so glad we purchased it. We have not had any problems with any step of the process so far.
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Gerber Purchased at: GerberLife.com Price: Depends on age and coverage Category: Finances & Insurance / Life Insurance Published: March 31, 2008 16:31
Author Profile:
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Rank: 111st (
1)
ShareScore: 39%
Gender: Female
Age: 25
Education Level: college
City: Pigeon Forge
Country: United States
Industry: None
Position: Mom
Income: $20,000.00 - $40,000.00
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I have heard good things about this plan. Thanks for the detailed information.
I also have this plan for my little Brody!
We get this in the mail all the time but never even thought twice about it. Maybe I need to.
Good for you for planning ahead. This is a very important step to take for your child. It's great that it can double too!
I've heard so many great things about this plan. Thanks for all the info! :-)
I used to get the ads for this in the mail all the time and I thought about getting it for my kids but I never did do it. Good for you for taking that step.
I've seen this advertised on tv as I'm sure everyone else has. But never known anyone who actually got the plan. I always wondered about it. It does sound like a pretty good deal. Thanks for the info.
Thanks for all the great information on this popular life insurance plan.
Thanks for the information. No one does want to think of this but it is very important to have life insurance no matter your age.
This is one of the best things anyone could do for their child. I actually recieved as a gift the first year paid for and we still have it.
I got this life insurance when my first daughter was born and have had it ever since. Both my girls have it. It's great and the rates won't break you up either.
This sounds like a great plan for any parent of a child and it gets even better when they get older as the amount doubles. I will have to tell my son and daughter-in-law about this. They might need to get this for my little grandson. The prices are great also! Thanks for the great information! Most persons do not like to talk about insurance but it is good to have!
Something to look into thanks for sharing
Great information and I've often wondered about this product. Thank you.
I have the info sitting on my desk... now I think I'll definitely sign the kids up.
I Think This Is A Wonderful Idea! And It's So Afforable! Thank You So Much For Sharing!
Informative and well written. thanks for sharing.
I also have this insurance for my children who are now 21 and 19. I hope I never have to file a claim but if I do funeral expenses will be paid for.
I have a gerber whole life plan for my daughter as well. I bought hers when she was only a month old. I pay $105.00 for a full year and the price will never go up. She has $15,000.00 of coverage right now. When she turns 21 she can cash it out or continue the coverage. The coverage will double at this point and the premium will not go up. I highly recommend all new mothers to check this program out. Getting insurance when you are working is easy but once you loose your job it is hard to reinsured.
We probably should get this for our children. Thank you for all the wonderful info!