Baby Gerber Life Insurance: Is It Worth The Hype?

Gerber Life Insurance is a well-known company that offers life insurance policies for children, with the option to continue coverage into adulthood. The company provides whole life insurance policies that can protect a child for their entire life and build cash value over time, creating a nest egg for their future. The Grow-Up Plan is a popular option for parents, grandparents, and legal guardians, offering coverage for children from 14 days old to 14 years old. The coverage amount automatically doubles when the child turns 18, and they can choose to continue the policy or cash out at 21. Gerber also offers life insurance plans for young adults, adults, and seniors, with various benefits and coverage options.

Gerber Life Grow-Up Plan

The Grow-Up Plan offers coverage ranging from $5,000 to $50,000, which doubles automatically when the child turns 18 years old at no extra cost. For example, a $25,000 policy becomes $50,000 when the child reaches the age of 18. The premium rates are locked in for life and never increase, providing affordable life insurance for the child's future.

The plan allows the child to borrow against the cash value of the policy to help with unexpected expenses. The policy also guarantees the child's right to buy additional coverage as an adult, regardless of their health or occupation, at standard adult rates. When the child turns 21, they become the policyholder and can choose to continue the policy or cash out the accumulated cash value.

The Grow-Up Plan has received positive reviews from customers, with many parents and grandparents recommending it. However, there are also critical reviews that suggest the plan may not be the best investment option and that the marketing and customer service provided by Gerber are deceptive.

Gerber Life Insurance Riders

Gerber Life Insurance offers a range of life insurance plans for children, teens, young adults, adults, and seniors. The company's Grow-Up Plan is a whole life insurance policy that can be purchased for children from 14 days old to 14 years old, with coverage starting at $5,000 and going up to $50,000. The Grow-Up Plan includes a guaranteed insurability rider at no extra cost, which gives your child the opportunity to buy additional coverage as an adult without a medical exam. This rider ensures that your child's future insurability is guaranteed, even if they develop a medical condition or have a risky job.

In addition to the guaranteed insurability rider, Gerber Life also offers a waiver of premium rider that can be added to their whole life insurance policies. This rider eliminates the requirement for premium payments if the policyholder becomes permanently disabled as per the rider's definition.

The Grow-Up Plan offers several benefits, including a premium rate that is locked in for life and coverage that doubles when the child turns 18 with no extra cost. The policy also builds cash value over time, which the child can borrow against to help with unexpected expenses. When the child turns 21, they become the policyholder and can choose to continue the policy or cash out.

Overall, Gerber Life Insurance provides a range of options for those looking to secure life insurance for themselves or their children, with the Grow-Up Plan being a popular choice for parents and grandparents seeking to provide financial protection and flexibility for their child's future.

Gerber Life Young Adult Plan

Benefits of the Plan

The Gerber Life Young Adult Plan provides several advantages to policyholders:

• Lifetime coverage: The plan offers whole life insurance, which means your child will be covered for their entire life, as long as premiums are paid.
• Locked-in premium rates: The premium rates are locked in and will never increase for the duration of the policy. This provides a fixed and predictable cost structure.
• Coverage that doubles at age 18: The coverage amount automatically doubles when your child turns 18, providing increased financial protection at a crucial stage of their life.
• Guaranteed cash benefit: The policy builds cash value over time, which can be borrowed against to help with unexpected expenses or future needs.
• Guaranteed insurability: Regardless of future health or job choices, your child will have the option to purchase additional coverage as an adult without a medical exam.
• Peace of mind: You can rest assured that your child is protected financially, giving you peace of mind as they navigate their young adulthood.

How to Apply

The Gerber Life Young Adult Plan can be applied for by parents, grandparents, or permanent legal guardians of the teenager. The application process is simple and can be initiated by calling 1-800-425-8394 or 1-800-704-2180. There is no cost to apply, and you have 30 days to review the policy before the first premium is due.

Cost of the Plan

The cost of the Young Adult Plan varies based on the amount of coverage chosen, the age of the child at the time of application, and the state of residence. Premiums can start as low as $3.70 per month for $5,000 in coverage for a child less than a year old, with automatic deductions from a checking or savings account.

About Gerber Life

Gerber Life Insurance has been protecting families since 1967 and is known for its trustworthy and reliable services. They hold an "A" (Excellent) rating from A.M. Best, a highly regarded independent reporting firm, indicating strong financial stability and the ability to meet future claims obligations.

Gerber Life College Plan

Gerber Life Insurance offers the Gerber Life College Plan as an alternative to a traditional college savings account to help parents put away money for their child's college education or to cover other expenses. The Gerber Life College Plan is an individual endowment adult life insurance policy that provides both guaranteed growth and adult life insurance.

The plan guarantees how much money a plan owner will have after 10 to 20 years, as long as the premiums are paid. This is coupled with adult life insurance coverage, so if the policyholder passes away, the full benefit amount of the policy is paid as a death benefit to the designated beneficiary. The guaranteed payout will range from $10,000 to $150,000 when the policy matures.

The Gerber Life College Plan grows in value over time and is not impacted by the stock market. The cash value grows over time without the risk of the market, so parents will know from the start how much their child will receive at the end of the term. The payout can be used for college expenses or anything else, such as starting a business, technical training, or even the down payment on a home.

The Gerber Life College Plan has a fixed monthly payment that never increases. The rate of return varies depending on the specific policy, its duration, and the billing frequency. Withdrawals from the plan are taxable. If a family cancels the plan, the refund value may be less than or equal to the contributions made. The payout is only guaranteed when the policy reaches maturity and all plan premiums have been paid.

The performance of the Gerber Life College Plan does not keep pace with college tuition inflation. The investment earnings are also taxable, which is not the case with a 529 college savings plan.

Gerber Life Accident Protection Insurance

AD&D insurance covers unintentional death or injuries that are qualified as disabling injuries. Qualified disabling injuries include the loss of use of limbs (hand or foot) and the loss of eyesight (one or both eyes).

Accident Protection provides two-way protection. Like regular life insurance, Accident Protection pays the benefit amount to your named beneficiary if you die from a qualifying accident. The difference is that Accident Protection also pays out to you if you survive a qualifying disabling injury.

Accident Protection Insurance can be purchased by anyone between the ages of 18 and 69. No medical exam is required, and there are no health questions to answer. Approval is guaranteed regardless of health.

The monthly premium for Accident Protection Insurance starts at as little as 17 cents a day for a $50,000 policy. The benefits can help cover out-of-pocket medical bills or replace income lost due to covered injury or accidental death.

Gerber Life's Accident Protection Insurance is a great way to protect your family in case of unexpected accidents. It provides financial peace of mind and ensures that your loved ones will be taken care of in the event of a qualifying accident.

Frequently asked questions