Most people seeking Gerber Grow-Up Plan Reviews, or info on Gerber baby life insurance, want to make sure that the product is the best choice for insuring children. However, there is another option that should be considered when a parent desires to buy life insurance on their kids. Before we get into the specifics of this alternative, let’s get a little more familiar with Gerber Life.
Review of Gerber Grow-Up Plan Life Insurance
Gerber is a household name, yet most of us associate it with the goodness that nurtures your children from their first days, ensuring they get the best start at life. Gerber has another side to it as well. It should come as no surprise that Gerber Products Company (the baby food maker) has a sister company, Gerber Life Insurance Company, which likewise has your family’s best interests at heart. Gerber Life Insurance understands that a second component to overall wellbeing is financial security and protection. Through a variety of policies, Gerber Life has more than $45 billion worth of life insurance at work. The Company’s speciality should come as no surprise: offering policies specifically for your children.
Gerber Grow Up Plan Life Insurance Review
Gerber Life Insurance is a company people trust. Realizing that a secure future is often the best thing you can offer a family, Gerber Life Insurance is a conservative company that believes in long-term growth.
Every insurance company is rated by reporting agencies. One of the most reputable life insurance rating companies is A.M. Best Company which has thirteen possible ratings. As of in May 2015, A.M. Best Company awarded Gerber Life an “A” or excellent rating, which is the third highest rating.
Gerber Life Grow-Up Plan
While Gerber Life Insurance has a variety of plans, including adult guaranteed whole life insurance, their most unique policy is the Gerber Life Grow-Up Plan which only covers children. This juvenile plan is solely for your child and not part of any kind of family plan. The coverage amount is flexible, ranging from $5,000-$50,000. One major benefit is that you can actually secure a childhood premium without having to worry about your monthly cost going up.
Any legal guardian, parent or grandparent can purchase a life insurance policy for a child. You must apply for the plan when the child is between the ages of 14 days and 14 years old. However, Gerber Grow Up plan covers your child as a whole life policy. In fact, by the time your child turns 18, the coverage doubles without any increase in cost.
The third great thing about the Gerber Grow Up Plan is that it will gain cash value which can really help your child during their lifetime.
TermLife2Go Weighs In
Gerber Life Insurance Company is a brand we know and trust. We’ve helped many people secure great plans through Gerber Life Insurance. Finding a life insurance policy for a child can be a tricky and emotional undertaking. Not all life insurance policies offer juvenile life insurance plans, so Gerber Grow Up Plan is a great way of helping your child to secure a lifelong insurance policy at an affordable rate.
One thing that you should consider prior to buying a Gerber Grow-Up Plan is that you have to buy individual policies for each of your children. While the Gerber Life Grow Up Plan may be a good option if you have one child, it can quickly become very expensive to purchase individual life insurance policies when you have more than one child. If this is your first child, you may want to consider the number of children you will have before deciding on the Gerber Grow Up Plan.
What’s the alternative to the Gerber Grow Up Plan?
For most people, the main goal of life insurance is to make sure survivors are well taken care of in the case of demise. Getting coverage for your children is important, but if you really want to provide for your children’s future—and we know you do—then you must make sure you have the best coverage for yourself as well.
As shocking as it may sound, many people wind up getting life insurance for their child/children, forgetting all about how important their own coverage is to their child’s well being. Imagine that tomorrow you walk out the front door and get hit by a car or have a massive stroke and die—what will your child do if you haven’t taken the effort to insure yourself?
Instead of the Gerber Grow Up Plan, we recommend you get your own life insurance policy first, and add your child or children to your policy as a child rider. That way you will cover all your bases and will ensure total family coverage, providing your children with the security and protection they need when they need it the most, i.e. while they are financially dependent on you.
Advantage of a child rider versus Gerber Grow-Up Plan
Than main advantage of a child rider is that it is a one price covers all option. You pay the same price no matter how many children you have. Therefore, if you have one child or ten, you pay the same price for a child rider.
If you don’t have a life insurance policy, or if you already have one of your own, then there may be a lot to consider. We at TermLife2Go are here to help!
Our goal is to help individuals and families to make the best life insurance coverage decisions possible. We want you to have the best policies for you, your kids, and your entire family. We also want to make sure you don’t wind up spending more than you should. We have an extensive knowledge of the various policies offered by dozens of the best life insurance companies in the United States. This enables us to make solid recommendations based on your needs. And don’t worry; we don’t make standardized recommendations and we have no incentive to recommend any one life insurance policy over another. Instead, we customize every recommendation to the client’s specific situation in hopes that we can match them with their best policy option.
If you would like to know more about how TermLife2Go can help you make a decision about juvenile or family life insurance policies, please contact us today.
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