The Gerber Grow Up Plan Plan Provides peace of mind to over 3 million families.
Gerber is currently providing protection to over 3 million families just like yours. In fact, the Gerber Grow Up Plan is the most popular baby insurance product on the market, it is provided by the Gerber Life Insurance Company. They have been in business for over 70 years and have over three million policy owners and 38 billion dollars of life insurance in force. Gerber Life is a form of life insurance for children known as a whole life policy. Whole life policies are popular for several reasons,
The Gerber Life Grow Up Plan Has These Important Benefits.
The Premiums are Affordable and Fixed – this means that once you sign up for new baby insurance and choose your amount of coverage, your monthly premium will be determined and it will never change. This is great news since it allows you to lock in the rate while your child is young and you never have to worry about the cost going up. The grow up plan can provide you with up to $50,000 of baby insurance for less than $30.00 per month, that’s less than a dollar per day. Or about the same as you’re paying today for a soda or a cup of coffee.
The Plan Creates Cash Value– In addition to providing life insurance coverage the premiums you pay accumulate in the account and provide you with a type of forced savings plan. If you decide to cancel the plan, you get paid the balance of the account. The Gerber grow up plan guarantees that that the cash value of the account will always exceed the amount of money spent on the policy. That means that you’re getting a return on your money, granted it’s not huge, but it’s at least as good as putting your money in the bank.
The Plan is Easy and Automatic – The Gerber life insurance application is easy to complete online. You just answer a few simple questions and they instantly provide you with a quote showing you the fixed pricing for different levels of insurance coverage. Then, if you decide to purchase the gerber grow up plan, you just set up your account so that the payments are automatic. Then you can forget about baby insurance and move on to some more important things like raising your family.
The Plan Automatically Doubles – The gerber grow up plan automatically doubles at age 18. You can get up to $50,000 of life insurance now and coverage will automatically double at age 18 for no additional cost. Your Gerber grow up plan premium will stay at the same rate as it was the day you signed up.
The Plan is Guaranteed and Grows with Your Child – In addition to automatically doubling coverage at age 18. The Gerber grow up plan insures that your child will always have life insurance coverage as long as the premiums are paid. In fact once they are an adult they can increase the coverage up to 10 times the original amount Guaranteed. It doesn’t matter if they are in poor health, work in a hazardous job or can’t get coverage from another insurance company. Your decision to get the Gerber Grow Up Plan will insure that they have coverage forever.
Here’s what the critics say about the Gerber Grow Up Plan
- The Rates Are Too High. This argument loses on several grounds. Although it’s true that the life insurance for children provided by Gerber will not give you the same amount of coverage as you can get from a term life policy for the same premium the argument forgets to mention that term life policies do not provide fixed terms, and as your child ages, the rates on term insurance policies increase. Also term policies do not automatically double the coverage at age 18 or guarantee that the policy holder can increase the coverage up to ten times the original coverage automatically without any review. So even if you decide to choose a term life policy now to save on premiums, you may be risking the long term benefits associated with the gerber grow up plan.
- The Return On Investment Is Low. This argument just doesn’t make sense. Life insurance is not an investment. Some critics of the Gerber life plan claim that this is a poor investment and you would do better by investing in stocks or some other instrument with a higher rate of return. They claim that the best solution is to purchase term insurance for a lower rate and then invest the savings recognized by having lower premiums in stocks or some other type of investment. In an ideal world this is a good solution and it may provide you with the same insurance coverage and more savings. However there is much more risk associated with this strategy. First the cheaper term insurance can provide initial coverage, but there are no guarantees on the rates, the coverage or the ability to maintain coverage for a lifetime. What happens if your child develops an illness, or decides to work in a high risk profession? Then the term insurance rates will go up and be prohibitively high, and in fact insurance may not be available. As for the investment, we all know how the stock markets, real estate markets have fluctuated over the last 10 years. If you time the markets right it’s great, if the markets crash or are down when you need cash, you’re out of luck. That’s why the Gerber life insurance plan is so popular you make payments for insurance coverage and your premiums are safe. You shouldn’t consider the plan an investmen, it’s not. But if you’re looking for a good choice for getting affordable life insurance for your children and guaranteeing that coverage will be available for them in the future then you should consider