Best life insurance for children? Is Gerber life insurance a good company?

Posted in Child Life Insurance over 4 years ago, 102 replies

I am a single mother who's also a working professional. Can you tell me who makes the best child life insurance? I was about to go for Gerber's life insurance for children but then started to think I'd better get a word of mouth referral before I pull the trigger.

Thoughts on Gerber or others? Thank you very much for providing this resource. Its tough to find unbiased answers.

submitted by Maura in Marin County, California

Photo of my little one :)

submitted by Maura in Marin County, California @ July 01, 2008 - 10:38 AM

I bought Gerber life insurance for my daughter when she was around three. She was born in 1984 and is turning 25 this month. I have never been sorry that I bought the Gerber policy. If anything should happen to her, I know I would be completely nonfunctional for a long time. This is one bill that I never mind paying -- $95.oo --once a year.

submitted by Linda in Saginaw MI @ September 22, 2009 - 08:38 AM

The best child insurance option is from Illinois Mutual and it is called Childguard. A single $300 premium and the child is covered from birth to 23 y/o. At that age, you have the right to convert the policy to $100,000 of whole life with an option for another $100,000 of permanent coverage. The whole life premium is roughly $17/month at this time.
Why might I insure my child. Some childhood illnesses can make it impossible to get coverage once the child is diagnosed. Most common is diabetes. Typically we must wait until the client is in their 30's with excellent control to be offered an extremely pricey term policy.

submitted by Tom Hinerman in Colorado @ March 25, 2010 - 12:03 PM

This isn't a blog to vant your views to the world. This person is trying to find insurance coverage for their child. If you have nothing helpful to say about the search or any tips you have learned don't say anything. Its really out of place and inappropriate.

God bless all you children <3

submitted by mommy in NY @ May 19, 2011 - 03:25 PM

Buy a permenant insurance policy from either:

1. Northwestern Mutual
2. New York Life
3. Mass Mutual

Then make sure that the policy has APB (additional purchase benefit) options attached. This will allow your child the option to purchase more insurance and certain life events later on regardless of if your child is insurable. This will created options and long-term financial flexibility that will be greatly needed.

submitted by mike in Seattle @ October 05, 2011 - 01:35 AM

You would probably be best off getting policies on the adults and adding the kids to that policy. Most of the kids insurance companies are bloodsuckers. You need to have insurance on the parents as much or more than you need it on the children.

submitted by AMY in SOUTH FLORIDA @ January 18, 2012 - 09:15 PM

Most child life insurance policies are very similar and priced the same. You may also want to check out Globe's Child Life Insurance policy. Be sure to compare not only the price but also the rating of the life insurance company.

submitted by Byron Udell in Chicago, IL @ July 02, 2008 - 01:02 PM

How do you check the ratings of insurance co.?

submitted by Andrea in AZ @ March 23, 2012 - 11:47 PM

I personally think that Gerber's Life Insurance is a little pricy for the benefits they provide. I think the best way to go about it is to contact a financial advisor for consultation. I have not done that yet (I'm 30 weeks pregnant), but plan on doing it very soon. Good luck.

submitted by Manika in Cleveland, OH @ July 10, 2008 - 04:10 PM

Consider my situation, I am receiving social security for myself as well as my 10 year old daughter. Her social security contribution is a necessity. I have a life insurance on my daughter in the event of the unthinkable event of her death.

submitted by Jim in California @ February 22, 2012 - 03:26 PM

As heartbreaking as it is for a child to die, life insurance on a child is a waste of money imo. The money is not going to bring them back and from a pure financial point of view, your expenses will be less than before.

You're better off saving that money for a rainy day fund and if the unspeakable should happen, you can draw from that to cover funeral expenses.

submitted by anonymous in Victoria, BC @ July 27, 2008 - 01:40 AM

Child life insurance is not important? When your emotional life falls apart, and your spouse looses his/her job from poor job performance, and quits life because they can't cope and breaks down, it'll be nice to have some back up cash to fall back on for the rough time, including therapy expenses. Don't believe its so easy loosing a child. Life is fragile. Insurance on children will make the tough time just a little easier for you.

submitted by Sam in new york, new york @ June 07, 2009 - 03:11 PM

You're an idiot.
How many people do you think really save money long term?

Did you know that most savings accounts become put and take accounts? That's because people put money in then take it out! The world is full of good intentions on what people are going to do.
An average funeral for a child cost about the same as it does for an adult. You are not looking at this as an adult/parent should. You are guaranteeing the child a small life policy at a very low guaranteed rate that will never change should they live to be an adult....which they probably will.
But should they die as a child, you have only paid out a few hundred dollars for the policy, and their funeral and some of the medical bills are covered. How long do you think it will take you to save $7 to $10,000. for a funeral?
Your problem is that you failed simple math when you were in school.
Life insurance on a child has nothing to do with you, as a parent, making money. It's about planning for the future, no matter what it holds. And wouldn't your child, once they become an adult, think you were pretty smart buying them a small life insurance policy as a child that they could take over paying when they become an adult at the same price you were paying, when you decide they are old enough to take over the payments.
Take a look at what a $10,000. life policy cost for a child 10 years old versus a forty year old adult with possible health problems. Life insurance standard rates are not guranteed to everyone. Most children are in good enough health to qualify for a small policy. Many Adults are not healthy enough to get standard or better premium rates.
The price of one happy Meal from McDonald's would cover the monthly premium for a life insurance policy on your child.

Think about the above next time you see a collection can on the cashier's counter at the local convenience store with a child's picture taped on it asking for donations to help cover medical and last expenses for someone who, similiar to you, felt like it was a sick thing or a waste of money to have life insurance on a child.
The older I get, the less tolerant I am on the lack of common sense the younger generation has.
Don't post your opinion on any subject unless you want a reply.
Chuck / Texas

submitted by chuck in texas @ August 07, 2009 - 05:57 PM

You are Extremely Misinformed and I am being Nice about my Comment.... ordinarily I would not even waste time in reply. I had a strong urge that you simply needed to know your view is absolutely incorrect.

Tom

submitted by Tom De Los Santos in Corpus Christi, Texas @ October 19, 2009 - 03:15 PM

It is true, it would be devastating. But how much more devastating would it be if you didn't have the money to pay for your child's funeral??? Most people don't have an extra $7-$10,000 in their checking accounts. Or even in a savings account. That's a lot of money to have to come up with during such a horrible time.

submitted by Alicia @ April 01, 2010 - 02:40 PM

Unfortunately, until you have gone through this experience, you don't realize the financial burden you face with losing a child. The emotional trauma is extremely difficult. But then when you have two other children to feed and you've been up at the hospital with your 18 month old baby waiting for him to pass and your husband can't get it together so that he can go to work while you sit with the kids; It very much becomes a financial burden and had we not had life insurance we couldn't have made it at that time. Until you lose a child and go through that unreal burden, you can never understand the damage it does in everyway to a family; physically, emotionally, and financially. I would suggest that anyone with children have sometype of life insurance for their children bc God forbid something ever happen, but if it does, sometimes that money is what takes care of keeping you going while you keep everyone else going. God bless all of you that have lost a child.

submitted by Laura in Malvern @ June 17, 2010 - 02:31 AM

The unexpected can definately happen. The average funeral cost about $6,00 to $8,000. We don't know when we will leave this earth. Anything can happen unexpected. So unless you have already been saving and have this amount in your account now, Life insurance is beneficial. You pay a monthly fee for a substantial amount of money to take care of funeral expenses and maybe medical expenses, as well as other expenses. so unless you are already prepared for the unexpected. Speak only for yourself. Too much is happening now, and we never know when our time will come or when a family member's time will come. May God Bless and be with all of our families.

submitted by Unexpected in St. Louis, MO @ July 04, 2010 - 11:03 AM

I work at a funeral home and it is worth paying each month even for a child. I have seen time and time again families come in that have little or no life insurance and then they have to get loans to pay for the funeral and other expenses. Other famlies who have insurance of course most are not thinking about the money but it is a great comfort when they know they don't have anything to worry about. Get the insurance if you havn't already. I have a child that's less than 1 year old and we have insurance on him.

submitted by John in Virginia @ October 12, 2010 - 11:50 PM

Okay...Chuck is right about the younger generation...unfortunately i am one of them, and am embarassed to say i am...ummm...a rainy day fund? what a crock of crap! we can't even afford a snickers bar! My husband makes $45,000 a year, we pay over $20,000 a year in healthcare and medicine for our son, AND we have insurance! That is OUR PART! Our son has cystic fibrosis and unfortunately is not doing very well...he is only 18 months old...been sick for 10 months and just got diagnosed at 16 months, due to nothing showing up on tests results until recently, so we are way behind on treatments...SO please explain to me how this rainy day fund works....Because last time i checked, a funeral costs around $8000 and we don't even have enough money to buy groceries for our home...how the hell can we pay for a funeral? even minimal coverage is a good thing to have...you always have to expect the unexpected and i guess when you live in a fantasy world where children never get sick and life is la-di-da-di, that is hard to do!

submitted by Lacy in Texas @ February 05, 2011 - 05:07 PM

OMG! How could you not be devastated if your child died? I know that we all will die someday, but . . . I'm near tears now to think that if my 2yr old did not wake up tomorrow, I WOULD LOSE MY MIND!!! Life insurance is to assist with coping if one loses their child - obviously you must not be a parent. If you were a parent you would truely understand the depth of pain that one would feel! You should be ashamed of yourself!

My condolences to Kristen in Pleasanton, CA

Side note: Chuck I think you said it all!

submitted by Jessica W in Atlanta, GA @ February 22, 2011 - 08:58 PM

I really dont think they are trying to get paid in the event of the death of their child. And for you to say this must mean that you dont know how much it takes to bury a child. Speaking from experience my daughter passed 15 years ago and both my husband and I had a job but no life insurance because who expects their 11 month old to die right. And so there we were in one of the most darkest times of a parents life and we had to ask family for money to do what was our responsibility. Having to others for money during this time was the second worst thing that ever happen to me in my life. It cost almost 12K dollars after everything was done and this was 15 years ago I hate to think of what it would cost today. But you better believe until my other children are either married or stable I will keep them covered.

submitted by Motheroffour in South Carolina @ September 23, 2011 - 10:49 AM

I think the exact opposite is true. If you go with a good carrier on a permanent insurance policy, you can accumulate cash within the policy that would serve as your "rainy day fund" while still providing coverage for your child, which all people need at some point in their lifetime, and if you structure it right, they can acquire more coverage later in life as their situation evolves. And what would you recommend the "rainy day fund" be? cash int he bank? a Mutual fund? A savings account will pay you 1% if you are lucky, and outting money into the market carries market risk and capital gains. If you put it into a permanent policy with a good mutual carrier, the cash grows tax defferred with tax-free disbursement, at any time, for whatever reason, is free from market risk and you don't have to worry about capitalk gains or market risk. I'm in the business and permanent life insurance is the most wonderful gift a parent can give to a child. You fund it until they graduate from college and then they pick up the tab. It teaches fiscal responsibility, provides them with some coverage, and givese them a nest egg for when they are on their own. Its an amazing gift. I have given it to my daughter and I recommend it to all of my clients.

submitted by Matt in New York @ November 04, 2011 - 10:34 AM

Wow, I am amazed how much hate responses one would get for simply posting a reasonable view on reasons for not getting insurance. But then I realized this is a site for people who either want insurance, or in the insurance business, so it does makes sense.

Here is the simple truth. Life insurance for yourself is for your children. Life insurance for children is really for yourself, NOT your children. I saw one post saying the children will think parents are smart when they get to take over the payment for life insurance at low rate. What a load of crap. How many young adults in their 20's think about planning for retirement, let along death?

The argument "always prepare for unexpected" itself is not really strong enough argument by itself. If that is the case, everyone should always buy every insurances under the sun for everyone in the family.

One person talked about husband "can't get it together at work" due to the emotional trauma while having 2 surviving children at home. I'm sorry. I don't care how traumatic the experience is, when you have 2 other children depending on you, you HAVE TO find a way to "get it together", insurance or no insurance. I wouldn't accept that excuse for myself nor anyone else.

I do tend to agree, there are better ways to ensure financial health than buying child life insurance. But I totally understand not everyone would be capable or disciplined to do it. So I still respect people who choose to do so. But when making decision, make sure you know exactly why you buy it. A lot of times people (usually insurance agents) come up with reasoning that really is not the main purpose of the insurance to justify the purchase, like the guy talking about your child will think you are smart crap. Savings & "safe" investments are just as legit as insurance to use as tool to prepare for the unexpected. Try to take your emotion out of this, and look at them purely from cost & benefit perspective when picking what is the best tool for you.

submitted by tiger in Californa @ January 07, 2012 - 11:26 AM

I have to say that I took out life insurance at a job I had at 18 bc I didn't want my parents or family to be burdened with the cost of my funeral if anything happened. I lost that policey when I left the company. I had my first child at 22 and yes I did think about life insurance for myself to insure he would be taken care of. Since I wasn't married to my kids father, I did worry about the cost of their funeral if the unimaginable happened to either of my boys. I wouldnt be able to afford the funeral. My best friend lost twins during my second pregnancy ( age 24), she lost them due to being born to early and she had to borrow money to pay for everything. She has two kids now and has insurance on them. She said she never wants to be in that situation again. Also several of my friends took out life insurance policey in their early 20's because they thought they should have it. Not to mention a lot of people start their families in their 20's. So I think it is a good investment to have on yourself as well as your children. I am glad if something happened to either of my boys I wouldn't have to worry about paying for a funeral and as a single mom that makes me feel better. I am 29 now and my boys are 6 and 7 and we are all covered. I do not work for a insurance company either. I work for a home nursing company. I pay for our insurance income tax time every year.

submitted by crystal in georgia @ January 15, 2012 - 07:06 PM

Also believe it or not 20 something year olds do think about the future and death. And I had a $20,000 policey that my grandmother took out on me as a kid. It's still in her name but I pay it along with what I have in my name. Though used is cheaper, and I was glad she had it on me when she told me about it ( 2 years ago). She told me about it while we were discussing her will and I was more than happy to find out she had a policey on me, my sister and my dad. People should research different companies and policeies and choose what is best for them but it is something everyone should at least check out no matter what the reason, emotional or not.

submitted by crystal in georgia @ January 15, 2012 - 07:19 PM

Very unfortunately from very recent experience. I can assure everyone that life insurance IS NOT A WASTE OF MONEY... My children are 12 years apart. When I had my second child in 2000. I was sent the Gerber life insurance information. I took this out on both my children. Yes It was more for the second child. But I just lost him at age 23 and If not for my life insurance I would not have been able to have burred my son and made things as nice for him as I did. Funeral expenses at this time run on the average of 11.000.00 to include just the funeral home and flowers. Thank God I had bought a cemetery crypt for myself 20 years ago or that would have been another 12.000.00. They are almost doubled when not pre-arranged. Then you have anther 1200.00 for the Grave marker. When under tremendous grief you want everything to be perfect for your child. This is the very minimum prices and I would have never been able to handle as a single parent. So is life insurance a waste of money. NO... I paid in about 25.00 a month for the last 11 years. Almost 4000.00 But It was well worth it when I had to pay for this awful expense. Just do the right thing for your children and keep me in your prayers.

submitted by Angela in North Carolina @ June 29, 2012 - 09:17 AM

Life insurance is never a waste of money and besides if god forbid your child should die would you really want to be going to a bank drawing money from an account? like really.

submitted by MaMa in Shorter,Al @ July 13, 2012 - 03:56 PM

The cost of living and raising children is expensive. For some that are financially sound, not having life insurance on their children may be fine, but for us that struggle to make ends meet each month and there is "too much month left at the end of the mony", then where are we going to get the money to pay for the funeral of one of our children??? Then we want our child to have a nice funeral, and not just cremated neccessarily. So it is ALOT easier to pay a small PREMIUM in case the unthinkable happens then trying to come up with a few thousand dollars at one time and during a time we are already grieving from the loss. Invest a few pennies a day and cover those precious ones, whether it is adding them on to the parents policy or taking it out individual policies on the kids.

submitted by John in Virginia, USA @ March 16, 2013 - 09:13 PM

Life Insurance for a child is not a waste, because if the unthinkable does happen, you will have the money to cover the burial, and if you are a hard working American like I am, you will also need a little extra to cover the time off of work for planning the funeral and a little alone time to morn. It is worth it to spend 500 or 600 hundred dollars to cover 5,000 or 10,000 thousand dollars. Also, most Insurance Companies give you the option of cashing out any premiums you have paid over the years, which is more than I can say for car insurance or home owners insurance. Not to mention that due to inflation, the average cost of a funeral now being 5,000 is steady increasing.

submitted by Millicent in Houston, TX @ July 29, 2008 - 02:22 PM

It is more important to have insurance on yourself as a parent; you can get a rider added on to your policy to cover life insurance for your child to cover their death expenses. Check to make sure that the rider can be converted to a policy for the child only when they become an adult, in the event they have medical problems and might not qualify for insurance on their own at that time.

submitted by Ruth in San Francisco, CA @ August 01, 2008 - 06:47 PM

I'M A SINGLE MOTHER OF TWO VERY YOUNG CHILDREN, AND I'M TRYING TO FIND THE BEST AFFORDABLE AND RELIABLE TERM LIFE INSURANCE FOR MY FAMILY. I'M LOOKING FOR SOMETHING THAT WOULD COVER ALL OF US FROM THIS POINT ON. I'M ALSO TRYING TO FIND THE SAME KIND OF SERVICES FOR CAR INSURANCE. I DON'T KNOW IF ITS BETTER TO GO WITH A BIG NAME COMPANY OR A SMALL TIME COMPANY? SHOULD I GET SEPERATE COVERAGE FOR ALL OF US, OR SHOULD I GET GROUP INSURANCE? WHERE CAN I GET HELP WITH QUESTIONS & CONERNS, I'S SO CONFUSED BETWEEN TERM, WHOLE, AND OTHER THINGS I'VE BEEN HEARING ABOUT. CAN ANYONE HELP ME OUT?

submitted by ANIYAH in BALTIMORE,MD @ August 02, 2008 - 08:37 AM

check out AAA for car insurance. cheapest i've found

submitted by jasmine in cincinnati @ August 08, 2011 - 11:19 AM

Evening ANIYAH,
I was in the insurnace buiness years ago, but I don't imagine the basics have changed racically.
There are really only two types of Insurance: Term or Whole Life. Many insurance polices are a combination of the two.
You rent term insurance and it's cheapest, pays the beneficiary when insured dies. Whole Life is more expensive because you have 3 non-forfiture values which return a portion of premiums you paid: Borrow or cash-out the accumulated cash value; Paid-up insurance amount less than original face value, and Extended period of insurance coverage. If you just stop paying the premiums and fail to request the cash value or an amount of paid-up life insurance, the insurance company automatically uses the accrued cash value to pay the premiums until there is none left.
There are also options such as the length of time you pay premiums. You can opt for excelerated premium amounts that permit you to pay for endowments for your children in 20-years. Or buy a 20-year pay Life Policy.
One reason is the burden of payments are easier during the payee's peak earning years.
I could go on and on, but I hope this gives you some idea how the insurance industry works.
I would caution you regarding Endowment Policies on your children. They are pricey and logically the bulk of your insurance dollar should be used insuring the head(s)of the family. The children need guarnteed food, clothing and shelter more than some cash in the future. All things being equal, the same amount of premium dollars spent to insure the parent(s) will provide some good cash value if needed when the chidlren begin college.
Check with the "Big Boys" for info: Met Life, NY Life, Prudential and etc; tell them you are looking for info AND the best price for the insurance you buy. Compare, Compare!

Jim

submitted by Jim in Coffeeville, MS @ November 09, 2008 - 02:36 AM

I am an agent still in "the Business". Yes, the loss of a child can be devastating and as mentioned, unthinkable.
As Jim mentions above there are two types of Life Insurance. Term and Whole Life (often called Permanent. As Jim states Term Insurance is like renting insurance, at the end of the designated time, if you haven't passed, all you are left with, is a pile of receipts.
Whole life on the other hand, is what it says, for all your life.The neat thing about whole life is that the monies you pay into the policy as premiums, build cash value. As the cash value builds, the death benefit builds with it(Mutual Companies, not stock companies). Yet, Life Insurance isn't just about death anymore. It's also about living! Whole Life Insurance can be used to fund your childs education, first car, down payment on a home or retirement,plus as a death benefit.
Does that sound great or what? That's not all.....The loans you can take from the policy and the death benefit are generally TAX FREE!
Stock Insurance companies have the obligation to their stockholders and more than often invest in riskier investments in the market. Mutual Insurance Companies have only one person to satisfy and that is their policyowners, they place practically every dollar into sound proven investments, such as Treasury bonds.
Contact a reputable insurance company, with very strong Ratings and history such as New York Life.

submitted by Steve Sutor in Bradenton, Florida @ November 21, 2008 - 09:51 AM

The easiest way to approach a insurance company is by contacting them online.

You just need to fill up few details and they will contact you with the best suitable insurance plan as per your requirements.

I used this web page www.gerberlife.com/quote to contact Gerber for my little princess and I am quite satisfied with their response & quote.

submitted by Richard in Chicago IL @ November 26, 2008 - 06:12 AM

I used to be in "the business", here is some non-bias information. The phrase, "buying term is like renting insurance" is a sales pitch used by whole life salesman. Even though term insurance works similar to renting, it allows you to have an adequate amount of insurance at an affordable price. Figure out the amount of death benefit needed; home mortgage, income replacement, children education, etc. Ask your life insurance agent to figure out the premium of a whole life policy based on the needed death benefit. Also, have him figure out a term insurance premium for the same amount (don't price shop term, buy the waiver of premium, additional premium benefit, and make sure it is convertible for ten years). Subtract the term insurance premium from the whole life premium, take the difference and apply it to your or 401k or Roth IRA. If those are maxed out, buy the permanent whole life policy, if they are not maxed out apply the difference to them. If you are going to buy permanent insurance, be very selective on the company. In my opinion there are only 3 reputable permanent life insurance companies: Northwestern Mutual (best), Mass Mutual and NY Life. As mentioned above, stay as far away from a stock company as you can, mutual companies are where you want your money long term.

submitted by Jake in Billings, MT @ December 29, 2008 - 04:42 PM

Ask Jake why he "used" to be in the business.

Probably because he was suggesting that his clients buy term and invest the difference. So the question I have is, how has "investing the difference" in a 401k or stock/mutual fund portfolio worked out for people over the past year?

On the other hand, how has contributing money into a permanent life insurance policy worked out? Well, I obviously can't speak for anyone but myself, but for me it's worked out great. It's the only asset I own that has grown in value EVERY YEAR for the past 10+ years and I'm confident it will be there when I need it.

I wouldn't start investing in the stock market or mutual funds until AFTER my whole life insurance capacity is maxed out. THEN - and only then - would I think of "investing" my precious hard-earned money into the market.

submitted by JB in Denver @ April 27, 2009 - 11:57 AM

She's not interested in term, whole life, or universal, but what to do for her child. Best thing to do is talk to a reputable advisor and determine your goals. I wouldn't just get a Gerber or Globe policy and forget about it, although I must qualify that by saying "Get Something!"
Goals might include protection, college fund, or cash value accumulation for the child.
Watch out for some of the term plans. Quite often they reach the end of their 20-year period and start rising in price dramatically...like $200.00 a month! A lot of unscrupulous agents won't tell you that. Be very wary of anyone who says, "Buy term and invest the difference." They're usually con men.

submitted by Just Passing Through in California @ January 23, 2011 - 12:34 AM

The experience I went through with my husband was my deciding factor on getting life insurance for my son. My Husband was diagnosed with a heart condition shortly after birth at the age of 18 he had to have a heart valve replacement. Right around that time his father was diagnosed with polycystic kidney disease at which point my husband was tested and diagnosed with the disease also. One major disease would make it difficult enough to get life insurance but two makes it impossible. Purchasing a policy for my son shortly after birth guarantees he will have the policy right through to adulthood. I did not want my son going through what we went through. Purchasing a life insurance policy on a child is not morbid it is quite possibly one of the best things you could do for your child. It is best to shop around but what I found with Gerber - the policy doubles when the child turns 21 and the premiums never increase.

submitted by Jessica in Memphis, NY @ January 21, 2009 - 08:03 PM

FYI-My dad got me one of these whole life policies(with Mass Mut.) when I was 5-1963 (now I'm 46) and is worth (cash value now) +$15,000ish with a premium of $110 a year for 42 years= a $5040 premium investment if I cash out at 70 it's $260,000. I tried to upgrade it 4-5 years ago, it was around $190 bucks a month!!!-ridiculous so I didn't upgrade.The payoff(and add on additional coverage) does increase $$$exponetionally$$$ as you age. So buy all you can afford from the get go. I have had health probs as an adult which prevents me from getting any reasonably priced life ins. via other outlets. I have a policy from United of Omaha on my now 14Year old daughter which is upgradable at25-30-33-36-39years of age "if she can afford it"!! If she has a family by then and health probs at least she'll have realativly cheap life ins outlet and she can add on regaurdless of her health situation.
Whole life isn't the best investment overall but it's easy and works, specially if you have health issues later in life.

submitted by Biff in Lakeland,FL @ January 30, 2009 - 01:12 AM

Hi Bliff in FL,
I was interested in your artical, but want to ask you something that I still didn't undestand: For 42 yrs, the investment of your policy is more or less 5000, and the cash value is 15K, but when you reach 70 How come the cash value will be 260K ?

submitted by Dan in Georgia @ February 03, 2011 - 12:38 PM

No one has mentioned single premium life insurance. My father got his grandchildren in the 80's $5000 of paid up life insurance. It cost him around $250. They are now grown (21 snd 25) and have a policy that they'll always have and no one had to make payments on it. It's not going to support their family if something happens to them but at least it's something. I'm about to do the same for my grandchild. I can get $5000 for around $300 and $10,000 for around $600. Dad dealt with the Greek Credit Union since the 1950's and that's where I'll be getting mine from. He also enrolled us in Annuity programs through them.

As far as insurance as adults..I have other life insurance but I liked using term insurance to make sure I had enough to cover my mortgage if something happened to me (instead of more expensive Mortgage Insurance)

submitted by Teresa in Harrisburg, PA @ February 11, 2009 - 02:52 PM

First of all, I am still in the business and do not have any children yet, but with that said...one of the first things I will do for my child is get them a policy...that is a whole life policy. I hope I will be able to make it happen, but I want the best for my child, and if I can I want to put 10k a year for 10 years into a policy for them.

That will cover education expenses, a down payment for a home, and...at retirement age, they will have $5M cash value to play with.

Please understand that life insurance is the most flexible vehicle to financial stability known to man. It's not always about death...it really is about life. Life insurances gives you the ability to offer support for your family, and if done right, will make it so they don't ever have to change their lifestyle.

submitted by Brian Todd in San Ramon, CA @ June 07, 2009 - 12:58 AM

Permanent insurance is a very good idea to place on your children. If they are very young, I would recommned an equity indexed life policy, or a fixed interest universal life.
Why is it good? It accomplishes two things....if your child did pass away, it will allow a comfortable grieving period without any financial burden. Secondly, when your child gets to a certain age, you can either hand them the policy with a low premium and cash value, or just keep paying on the policy for them. This allows a parent to show the importance of life insurance to their children by letting them know that they have kept a policy in force for a long period of time.
JMHO.

David J Horsey Jr, CLTC
Clearview Insurance & Financial

submitted by David Horsey in Springfield, MO @ February 12, 2009 - 02:46 PM

Whole life insurance on a child is only a good investment if you are an insurance salesman who gets commissions from the sale. Here's why. Let's say you take out a 10,000 policy. Your premiums are likely to be around $400 a year. So after 18 years, you've paid $7,200 in premiums alone. "But you earn cash value, with interest," the life insurance salesperson will tell you. True enough ... at rates historically far below other types of investments, even considering the recent poor performance of the stock market. "And you can borrow out your cash value," the same insurance salesperson will say. Yes, you can borrow it -- and they'll charge you 8% or more a year to borrow your own money -- and when you do, it reduces the amount of your coverage. Which you can only get if your child dies. You are far better off sticking that $400 a year in pretty much any other type of savings vehicle. Even an insured money market fund is going to cost you less than a whole life insurance policy. "But it ensures that your child can get life insurance no matter what, even if he's denied it as an adult," the insurance salesperson will also say. Odds of that happening are statistically extremely slim. It's a sales pitch. As for endowment funds, the premiums are usually extremely high. Again, you're better off taking the amount of the premium and putting it into an insured money market fund, savings bond, or a mutual fund. Current year notwithstanding, the stock market has still significantly outperformed every other savings vehicle over time, and time is on your side if you're using a life insurance policy to fund a college education. The purpose of life insurance is to protect someone who will be adversely affected financially by your death. If you're worried about funeral expenses or missed time at work ... just put $30 a month into a savings fund. It'll cost you less than life insurance premiums, you'll earn a higher interest rate in pretty much anything, and you'll be able to get to your money without being charged 8% to borrow it.

submitted by Sally in Prairie Village, KS @ February 19, 2009 - 06:44 PM

Sally,

You don't know what you are saying! Check your facts first...secondly check how much your interest rates are in a money market fund are right now! Good Luck on getting 2%/year interest...on that $400 that's $8.

Right now...@ $400/year I can guarantee for a 2 year old male $78,300 death benefit and at age 20 a cash value of $4849...but with mid assumptions $5100, plus a death benefit above $83k.

Oh yeah...those are tax free dollars as well.

submitted by Brian Todd in San Ramon, CA @ June 07, 2009 - 01:12 AM

You "Buy term, invest (waste) the difference" people are morons. My wife's father bought a whole life for her with ONE small payment when she was a baby, $100.00. She's in her 'fifties, dad died and she found the policy (he forgot all about it) and with one 'phone call, she was $80,000.00 to the good!
She's working with people who bought term. Boy, are they sorry now. Policies lapsed, now they have health issues and can't get insured. The main reason insurance companies love to sell term policies is that term policies are designed to die before the clients do, so the insurance company collects money for years and never pays out. That's great...for the insurance company.

submitted by Just Passing Through in California @ January 23, 2011 - 12:47 AM

I too believed that life insurance on a child was morbid until I started working at an agency company and now have realized that it is the best thing you can do for your child. No one wants to believe their child will die, but you look at this policy as something they can use and carry into adulthood and leave behind for their children and never have to worry about increasing rates and as others have mentioned, you never know what may happen medical wise to your child and if you lock in a low rate now, regardless of what their future holds they will have coverage for a lifetime. What's fabulous about Gerber is that regardless of health, occupation, hobbies, etc, once their rate is locked in, they are guaranteed coverage and extended options of purchasing more, regardless of health issues that other companies may not even cover. It builds cash value so children can borrow the money for a need that may arise.

Insurance on children is not just about their death, it's about the fact that you, as a parent may want to take time off work to mourn and now you have no income coming in, we know in this society, we are only given the standard 5 days at most companies, what happens if you're not ready to go back to work, how will you pay the bills, how will you makes ends meet? That money can be peace of mind that no matter what may happen, your family is covered. True money in savings will gain interest, but will it really be enough to cover burial expenses and everyday living expenses? and no, this money won't replace your child, but you can rest assured knowing that your child was given a proper burial without having to have a fundraiser or something else just to bury your child.

submitted by Jennifer in Muskegon,MI @ March 18, 2009 - 08:47 PM

Life insurance is about the death benefit and it is for those in the generations that follow. Life insurance is not about the cash value as that is about you. Investments and life insurance are different financial tools however if you wish to compare the two a proper comparison is by using the death benefit compared to the investment value and remember to use the after income tax value. The truly wealthy have substantial trusted life insurance to replace the principal used during there life time thus providing for future generations on a tax favored basis. Gerber is a great starter plan but look at substantial amounts purchased by a trust funded through gifting. Your greatgrandchildren will appreciate you as they will be the wealthy class in their day. It's about tomorrow not today.

submitted by Joe in Wilmington, DE @ April 02, 2009 - 12:14 PM

We got out son an inexpensive $10,000 WL policy that is paid up in 20 years. My husband and I own the policy so he can't cash it out unless we signed it over to him. Granted, it won't make much money, but it will be there the rest of his life.

submitted by Atara in Louisiana @ April 25, 2009 - 04:02 AM

The only people who would advise you to buy life insurance for a child is an insurance salesperson who benefits from the commissions.

You are better off buying life insurance for yourself because in all likelihood, you will die first and thus give the benefits to your heirs, ie, your children. Or invest the money somehow for their benefit.

submitted by Life Insurance in Seattle, WA @ May 18, 2009 - 04:24 AM

I, unfortunately, outlived my child. He had life insurance. It didn't bring him back, but it did not add more sorrow.

submitted by teresa in oklahoma @ October 25, 2009 - 05:02 PM

That is a great assumption....to outlive your child....ok now back to reality.....even if your child is over 18 or 30 or how ever old and they are not married (even if they have lived with their significant other for 20+ years) and they dont have life insurance that specifies a beneficiary the parent is ultimately responsible for the cost and planning of the services for their "child". So its not just thinking of if something was to happen to little Johnny but what is going to happen to little Johnny as he's growing and learning how to be responsible for himself.
You also have to think beyond tomorrow. I say this because some very dear and close friends of mine were thinking about getting insurance on their very healthy and happy 6month old when their financial advisor told them to but that money in a savings for their child. Not even a weel later the baby had fallen asleep after a car ride and they put her in her crib and when they went to check on her she had spit up during her nap and it went up into her nasal passage and caused irreversible brain damage.Their daughter is only 4 now but she is physically and mentally incapable of ever doing anything for herself. Now the cost for them to get insurance is just crazy.
Do you ever think (of course most dont because that wcould never happen to my child,or that doesn't run in my family)about the people that go into the armed forces and have some kind of traumaict experience and eventually ends up living either in the basement or on the streets because they cant get a grasp on whats real a whats not. How hard do you think it would be to get insurance on someone like that?
As a parent you want nothing but the best for your child and that is what you are suppose to do. But as we all know the best is not always the case. But to soften the very harsh blows of what life is more than capable of throwing please get some kind of insurance. I am NOT an insurance sales person, I am a parent that had to bury a child with no insurance and when it happened I didnt know I was going to do. Just get whatever is in your budget. Im not saying go and buy the first thing you come across by all means do your research because there are so many different things out there you should do your homework and if you find that you cant decide on what to buy just buy a small policy that doesnt cost much until can do more research. Even if you have to take a peanut butter sandwhich and water to work for lunch for two days a week to have the extra couple of dollars to pay for it. In the end it will be worth it. Not because you will become rich, but because you wont have to go into debt or take a second loan out on your home. No one needs worry and stress added to hurt and sorrow.
One of the biggest problems of today and its sad to say but we dont take the time to actually sit and think about what would you do right this very minute if you were to get a call saying is this Mr or Mrs Doe, we need for you to come to the hospital something happened to John Doe Jr. We are just so busy with our every day lives that we keep putting it off thinking that tomorrow will forever come.

submitted by Motheroffour in South Carolina @ September 23, 2011 - 01:16 PM

"life insurance" should be purchased to replaced an income in the event of a tragedy. Unless your child is Dakota Fanning and you rely on their income, life insurance for kids is a play on your emotional wellbeing. Life is full of "what ifs" save and invest your money for your future.

submitted by jason in nebraska @ May 20, 2009 - 11:01 AM

I was in the life insurance business 5 years ago until I moved into the property and casualty side of things. At the time, my son was born.

Four years later he was diagnosed with autism. Although I can get a guarateed policy from certain companies, the premiums I pay now are substantially less since I bought it immediately after his birth.

A comment above says uninsurability is "extremely rare." Well, lets think about that. 1 in 150 kids will be diagnosed with autism. 1 out 3 adults are obeses (very high premiums). Let's not forget about high bp, cholesterol, etc. When I was producing, about 1 in 5 applicants received a preferred rate, 1-2 standard rates and the rest were rated up or declined.

Buy the insurance on your children...if you do and if something were to pop up, you will either feel great about how you protected your family or like a slacker who didn't think like an adult.

As for term vs. whole life. I like to recommend the bulk of life insurance in term (unless other savings vehicles were maxed out) and also purchasing a smaller permanent policy for your retirement years. Why retirement years? Can anyone guarantee they will be retired at age 65? And have no debt (credit cards, vacation homes, etc.)? And a permanent policy is an easy way to leave money to your heirs while allowing you to spend your savings in retirement like you planned.

submitted by BB in Florida @ June 24, 2009 - 12:50 PM

Hi. I have a 7 r old and an 11 month old. I got the Gerber plan for 10k for my oldest when she was around 2 or 3. I recently got 10k for my baby boy too. However, I guess I was misinformed. I thought, the 10k would go to my kids if something happened to ME. My husband just explained to me that the money is paid to US if something happens to THEM (God forbidd!). Then, he continued to explain to me how we can get them life insurance in other companies and it's better priced. So basically, he's saying that Gerber is expensive for what it is.
Yes, at 18 the amount doubles to 20k at the same price, and at 25 I think they have the option to add coverage. But he said that that costs extra.
Is that true? Does anyone know about the Gerber life insurance enough to explain it to me without fancy wording? And what about the borrowing money thing? Will they charge me that 8% ppl were talking about if I need to take some money out? Do they charge me if I decide to cancel the account and cash in?
Thanks for the info...

submitted by Mom of 2 in Gilbert, AZ @ August 28, 2009 - 01:38 AM

Years ago I purchased children's Term life policies from National Benefit Life and Guarantee Trust Life. The cost was $25 per year for $10,000 coverage.

submitted by Rich in Naperville, IL @ October 07, 2009 - 08:46 PM

Northwestern Mutual's Whole life Child Policy is the best, It grows long term at 6.5% and you are able to purchase more down the road without having to go through underwritting. Children get older and there life will change as in kids, home, new job exc, you will want more life insurance.

All of these other companies dont compare to Northwestern, they are the only AAA rated company with a stable outlook.

submitted by 2032215251 in Connecticut @ October 08, 2009 - 01:02 PM

Children don't need life insurance. There are smarter ways to invest your money.

submitted by CMS in USA @ December 24, 2009 - 07:36 PM

My daughter passed away on Monday, December 21, 2009 of an unforseen illness, she was 14 years old. She went to the ER on Sunday night, midnight and passed away at approximately 10 am on Monday. Theres has been an autopsy, Kaiser was unable to determine her cause of death. They did rule out flu and H1N1.

I am a teacher and make a reasonable income, however, I feel blessed that I had a $10,000 child rider on my life insurance to assist with expenses. I am a single parent with limited savings. I still have college debt and raising a child that went to Catholic School, played sports and had music lessons was a financial juggle. Not to mention the mortgage.

The overall expenses for her funeral service, cemetary and burial service was more than $12,000. This is even after the Oakland Diocese of the Catholic Church granted my daughter approximately $3500 in fee reductions to services as a gift. I also chose a double plot and that increased the fee by $8,000. It is very expensive in CA to provide for a proper burial.

If I did not have the policy the Mortuary would not have moved her from the Coroner. The policy was accepted in "Good Faith" and I was given additional time to gather my funds to complete the arrangements. My daughter's buriel would have been postponed till after the first of the year. She was buried last Wednesday.

Now I am faced with the fact that I can't work at this time. Mentally I am not in a place to care for other children. Remember, I am a teacher. I am taking time off and now there are my own medical costs and other additional expenses that have arisen.

Please get insurance for yourself and all loved ones. Those insurance papers were like a mountain of gold that moved my baby from Santa Clara Coroners to Holy Angels Chapel.

submitted by Kristen in Pleasanton, CA @ January 05, 2010 - 07:56 AM

Kristen,
I've just read your reply twice and I'm so sorry you've lost your daughter. You'll be in my prayers.

Ron

submitted by Ronald Belham in Philly @ January 05, 2010 - 09:21 AM

Anybody have any information / experience with Gerber Life insurance?

submitted by Lori in Alabama @ January 08, 2010 - 10:09 AM

I'm an agent and I can tell you term is the better way to go. Cheaper premium, better coverage, and now you can lock in 35 yrs with some companies. The whole life agents will tell you not to trust the market, then turn around and invest your money in it. They keep anywhere from 6-8% long term and give you your 3-5% return. Why not do what they do, invest your money, and in 10, 20, 30 years have a lot more "cash value" then a whole life policy. Most people I come into contact with whole life policies are very underinsured and would be in a bad situation if something happened to their spouse.

I thought an agents job was to make sure the family is properly protected, but when you make so much commission off of whole life policies, why bother. Insurance should not be a savings or investment vehicle, it is to transfer risk for what should be a limited time.

submitted by Joshua in Louisiana @ January 22, 2010 - 02:10 PM

joshua any good companies in mind for term life for a 7 year old i have gerber whole life but looking into term for like 20-30 years at which time she may choose to take the cash value or what was paid into to invest in her education etc... because in term you can cash out at that time am i correct

submitted by turner in ohio @ February 16, 2010 - 10:30 AM

I've been a independent financial advisor for over 36 years. All of the life insurance companies that I know of will not sell term insurance to children under the age of 18. They can only get it as a rider on their parents insurance policy and are usually limited to a maximum of $25,000 of coverage per base policy. The children's rider can be converted up to 5 times the original face amount into any permanent form of life insurance at age 25 regardless of their health. The rider is very affordable and will cover automatically any new children 15 days after birth for the same amount of protection without any increase in the rider's premium. (Maximum 10 children)
Most insurance companies require that this rider be attached to a permenant form of life insurance owned by either one of the parents, however, I have found some companies that will allow it to be attached to base policies that are term insurance as well.
For someone who only wants to cover children against pre-mature death, this is the cheapest and best way to go.
For those who are looking beyond the childhood years, purchasing a permenant form of life insurance is a good idea.
Even whole life insurance is very inexpensive at ages under 10 years of age! Universal and Variable life insurance policies will have less guarantees. Adding a "guaranteed insurablity option" rider will guarantee your child's future insurablity. They will thank you for it. To find an ethical agent who will look out for your interests check the website of the local NAIFA chapter in your area. (NAIFA stands for the National Association of Insurance Financial Advisors) They are trained to look at your entire financial picture before recommending any kind of insurance program.

submitted by Rick in Baltimore,Md @ March 10, 2011 - 12:40 PM

this is turner in ohio for joshua please reply directly or by this site also im looking for the same for my 19year old son whats the best bet for ins in his case thanks

submitted by turner in ohio @ February 16, 2010 - 10:33 AM

ok here is what i would like to do i have a 7 year old daughter and im looking for a way to invest so much a month or when i can that will build good intret when shes say 30 or so and would like to use that money for education house family etc she can cash out withpout being charged so i guess its some kind of saving/investment for the future thats going to building good intest over the years im looking for something like that for my 19 year old also so 10 years or so from now he will have what i put aside ans the intrest it would have built talking to these companies with the big words is starting to be quite confusing and mire of a sells pitch for them opposed to which company or which direction to go in thanks much

submitted by turner in ohio @ February 16, 2010 - 10:55 AM

All life insurance is based on 3 things: age, gender, smoking status and rated up due to health and habits. Get your children insured with whole life insurance that you get locked in at this rate for rest of their life. The younger the person, the cheaper the monthly rate and a bigger bang you get, dollar for dollar. The maximum whole life limit is normally 50,000 on children. (ex. 7 yr old Female 50,000 whole life with a GIO (6x25,000) is under $19 month or 25,000 whole life & gio / $11 month). Make sure that you inquire about and definitely add a GIO or Guaranteed Insurable Option. Which means at certain stages in their life, the child can add a predetermined amount of whole life insurance on themselves, guaranteed, without proving insurability because the child qualified for the additional coverage at, i.e. age 7, when young and healthy. Do your children and grandchildren right and get them permanent insurance and the option of additional guaranteed coverage later in life.

submitted by Brian in mn @ February 28, 2010 - 12:17 AM

It is simple. Buy term on your self and your spouse in enough amounts and a long enough term to replace your salary until your family is grown. It is much more likely that something will happen to you or your spouse than to the child. Add a rider your children. It is cheap and will cover all your children until they are on their own and comes with guarantee of insurability and conversion rights. Once that is done your entire family is protected. Then set up an emergency fund followed by a retirement/education fund in that order. Term will get you better rates. Start saving young and continue until retirement. when your savings is big enough to replace your salary consider dropping the term policy. Money wisely invested in enough amounts is better than insurance. It just takes time and consistency to get there. Show a little discipline and common sense. Use your natural love for your family as a motivator and get started.

submitted by Marvin in Texas @ March 21, 2010 - 02:55 AM

My 1st direct answer is YES! I was an agent with another company over 25 years ago, while I have never worked for or been paid by Gerber Life I do own 4 policies with them. 1 each on my wife age 55, my grandson who is turning age 15 and weighs over 300 lbs, my grandaughter age 2, and my self age 53. I have had these policies for almost 2 years and have no regrets at all! Both my wife & I are disabled. I do not know how much room I have to give you the rest of my thoughts and info about the grow-up plan as it is available here in S.C. The rates & info here are from birth to age 14 with initial amounts from $5,000 to $35,000 in multiples of $5,000 and monthly pemiums of just over $3 per month for $5,000 to $21.42 for $35,000 at under 1 yr of age to just over $5 per month for $5,000 to $34.09 for $35,000 at age 14 and rates never can increase. during the year the child reaches age 18 the face amount of the policy doubles with no change in premium for life. I am not aware of any other company that will double your coverage with no change in premium for the rest of your life! The other main benefit that comes as a result of this is that the 5 GIO that come in the future years means that where most other companies as far as I am aware offer up to $25,000 intial amount plus 5 future options giving a total of $150,000 if you 1st select the $35,000 intial face amount then it doubles for free at age 18 and then they accept each of the 5 future options they would then have a total of $350,000 which is a very big difference and no future weight, health, or occupation can change the fact that they can can get as much of this as they accept and can afford at standard rates!!! It does not matter if you are a parent or grandparent please give this your best consideration in the love & best interest of those you care for!!! I hope this will help all as there were many differences in answers & opinions.

submitted by Doug Winter in South Carolina @ April 30, 2010 - 10:15 PM

Please forgive me for the several spelling errors above, my main point was to try to share some helping info with you. Call them at 800-704-3331 or go the website which shows on my info from the company gerberlife.com/baby or see what Richard in Chicagol IL @ November 26, 2008 showed as a web page. Next I should mention that GIO stands for guaranteed insurability option which in the easy to understand words means standard low rates regardless of health or job ECT. And please think about how many of your family, friends, and others you know have some of the very common known medical issues such as high blood, weight, cancer, heart or kidney disease, being diabetic, and the list goes on 1 of these will cost you or make getting coverage more trouble but 2 or more can mean the 3 letters RNA which stands for rates not applicable which in english means you can no longer buy any form of regular life insurance. If you try you may be able to buy more expensive 2 year graded period coverage which means you have to live beyond the 2 years or what ever the graded benefit period is otherwise they will return a part or all of the premiums you paid prior to death. In the 1st comment above I was trying to compare what some of the other compaines offer with the $25,000 initial with 5 GIO's becoming $150,000 as compared to Starting with $35,000 then the free double @ age 18 then with 5 GIO's becoming $350,000. Best advise do your own research as well but do something and do it sooner instead of latter which even with best of intentions can be left incomplete. This is one of the most important things you as a educated caring adult can do for the future of one or more children who you love!!!

submitted by Doug Winter in South Carolina @ May 01, 2010 - 12:10 AM

People, People, People can we all just get along. If you like your opinion stick with it. I would just like to say, my mom died at age 47, without a burial insurance policy in sight. So we (her children) had to scuff money up to bury her it cost 1500.00, totally. NOW that same funeral cost is 18,000 + not including the family car, announcements, flowers, the church, pastor (you get the picture).
I have all my children on a whole life insurance policy, I intend to keep it, because if somehthing should happen, I don't want to have to have pass the collection plate, to get done what I needed to do as a mother in the first place. Protect my children.
Thanks,

submitted by Dana in Texas @ May 15, 2010 - 11:43 PM

hhmm still havent figured out if this is something I will do, but I have figured out that the Chuck guy is an A-hole!

submitted by Rachel in us @ June 19, 2010 - 08:39 PM

You're an idiot. Why is chuck an A-hole? Is it because he tells the truth? Come on, he's only pist because of this comment:

As heartbreaking as it is for a child to die, life insurance on a child is a waste of money imo. The money is not going to bring them back and from a pure financial point of view, your expenses will be less than before.

You're better off saving that money for a rainy day fund and if the unspeakable should happen, you can draw from that to cover funeral expenses.
submitted by anonymous in Victoria, BC @ July 27, 2008 - 01:40 AM

I can't blame Chuck a bit for that one.

submitted by Kristy in Texas @ August 22, 2011 - 09:44 PM

I am trying to find a company that will insure my son and have been for a while. He is nine months old and has a type of congenital heart disease called ebstein's anomaly. He hasn't had any surgeries yet but he will need to in the future. However, as of right now he is doing very well. Does anyone know of a company that might insure him?

submitted by Bridget in Alabama @ June 23, 2010 - 03:40 AM

I can see buying a $10,000 term policy for a child if you are concerned about funeral expenses and have little or no savings.

submitted by Mark in San Francisco, CA @ July 16, 2010 - 01:26 AM

Dear Chuck in texas:

I don't think one has to be good at math to realize the importance of life insurance for children (I use my fingers to add 9+6 I'm an Idiot when it comes to math) But I clearly understand the value of it.

When I have a baby, the main reason I will get a policy is because of the living benefits my son or daughter will have for the rest of his or her life. And the peace of my mind it will give me knowing that my child will have a lifetime of financial security thanks to the life insurance policy. The second reason would be the unexpected, not just death but also the liquidity of the cash value that accumulates over the years and would be immediately available for unanticipated life events, such as protecting the equity in a home, in case they need to. 'ts my understanding that the earlier you start, the better because the cost is lower and the benefits are higher.

My condolences to Kristen in Pleasanton, CA.

submitted by L. Castro in Hollywood Florida @ August 16, 2010 - 04:57 PM

Northwestern Mutual!! Provides Gerber on Steriods as I like to call it.

submitted by David in Virginia Beach @ October 13, 2010 - 08:58 AM

After my mother died I found a Gerber policy in her personal items. The policy was taken out on me when I was 1 y/o (1960) and they paid $1 a month.

I cashed the policy and recieved over $1200. Not a bad return and a nice surprise. If nothing else, consider it a gift to your child to be redeemed down the road.

I used my money towards my two young sons at the time.

submitted by David in Kentucky @ December 02, 2010 - 02:57 PM

My husband and I got our children (2.5 yrs and 6 months) the Gerber Grow-Up plans. We purchased the maximum amount $50,000 with the thought that this would be a start for them so they would not have the financial burdens we have endured. I NEVER realized it was guaranteeing so much more until I read these posts! Here I just thought we were making sure they had a great start when they become young adults! We are expecting #3 in October and will be purchasing another plan for this child as well. I personally hope that this will be a great start to their young lives. I never thought about the possibility of medical problems or anything ever happening to them. I do have 3 other children that are teenagers that are uninsured and 2 do have their own medical problems. I learned more reading personal experiences here than I would have talking to some professional. Thank you to those that shared very personal stories. Even though we struggle to make sure they have these policies, I am very glad we did this for our children.

submitted by Kristie in New Mexico @ March 07, 2011 - 12:36 PM

I am a 23 year old father of 2 and I am agent mysefl in the "business" and term is awesome til ur older I sell it trust me I kno my company offers a "headstart" 25k whole life wit GIO up to age 18 for less than 15 a month or less from ages newborn to age 8 it is 10.67 call me 7192135577 for a quote or an appt

submitted by joey u in colorado @ March 11, 2011 - 01:35 AM

In the gerber plan at 18. Is it paid in full. Benefit good always or do you continue to pay or policy lapes. I get the double part and other issues if health and also cashing out. I just want to know if I buy th 35 grand at 18 is it Paid in full for life

submitted by Patty in Michigan @ May 11, 2011 - 08:42 AM

There is so much that I did not know about whole and term life insurance. After reading all of the comments; I am glad that I have Gerber life insurance on my granddaughters and I plan to get my great-granddaughters insured also. I just regret that I was unable to keep the insurance that I had on my children when they were young, because of loss of job and income due to some health problems that I suffered.

submitted by Edith in Knoxville,Tennessee @ June 14, 2011 - 03:48 PM

The reason people purchase Gerber insurance on their child is because its a baby company. Does that mean they are the best insurance policies to buy for your child? Simply put it no! There are many reasons to buy life insurance on a child but one reason is because it will give them a head start in life. They will have built up cash value and it is great place for them to put their money knowing that it will grow. For the growth purpose Gerber is not the best company to purchase life insurance on a child. As someone said earlier Northwestern Mutual is like Gerber but on steriods. Their policies will grow significantly more than Gerbers. Just because Gerber has the baby name does not make them the best child insurance.

submitted by John in Denver @ June 15, 2011 - 10:45 AM

Worst type of life insurance : all
Except : term-insurance

I use to have whole life, I ended up understanding how it works & I got ripped off, after that I got the right type of life insurance & invested the difference, so i cancelled my whole life insurace after 2 years, I use to pay $100 each month, a person would think that due to the cash value they would get something back but as my reimburse I got $0 ...I was Pist, I threw away $2,400!!! So my advise is to get term insurace, it can cover you and your kids as well for a cheaper price, invest the difference and you should be set, well that's what I did, the problem is the reps won't tell you what is best for you, but I got lucky my bestfriend started working with a company and she was the one to explain it to me how it works, and this company that she is working with really wants to PROPERLY HELP persons with their finances, if you like I can give you her phone#, but anyways, that's my advise.

submitted by lizza. m. in california @ August 26, 2011 - 12:11 PM

I am18 years old and I have a very healthy 7 month old baby girl. Multiple people have told me to get a Gerber grow up plan for my daughter so I have been reading up on plans and companies for days. My boyfriend doesn't know if it's a good idea. And after reading some of these comments I'd have to agree. But after reading others I am tempted to get a plan today. It is more than affordable for me and my boyfriend to have the plan for our daughter. I honestly don't know what I'm waiting for. What should I do?

submitted by Denise in Champaign, IL @ August 31, 2011 - 04:34 PM

Talk to a Primerica agent. They give you all the ins and outs. I know for a fact because of what my family went through. BOTTOM LINE.

submitted by Alvez in Jackson, MS @ September 20, 2011 - 04:35 PM

I am not a fan of Gerber. I have a 30 year term plan and both of my children are on the plan as riders. With Gerber you have to par for EACH child. The policy I have gives you one price and you pay that whether you have 1 child or 8. Gerber could get a little expensive if you have a few children. My plans take my kids to age 25 and they get 5 time the coverage automatically when they turn 25 with no medical check. Oh, and I have 529 Plans for college.

submitted by Labrina in Baltimore, MD @ January 21, 2012 - 10:39 PM

Just to add.... for those of you who think that insurance salesmen are only trying to make money.... I dont get paid commision, I get an hourly rate!!!! I feel as a responsible citizen it is my duty to pass along the importance of having insurance no matter your age!! Of course there are con men who will scam you but if you do your research that can be avoided.

submitted by Jody in Newaygo MI @ November 27, 2012 - 05:06 PM

I purchased a policy with Gerber for my grandson. He was 2 at the time I bought it. We raise him, but because we were not yet his legal guardians, we could not add him to our policy. It was much cheaper to go with Gerber even if we had been able to add him. I went with Gerber's Grow Up Plan, because it was easy for a grandparent to do and the rates were reasonable, about 10.00 per month on a 15,000 policy. I did this only with the thought of covering a funeral if anything should ever happen to him, God forbid. Coming up with (at today's rates) nearly 10,000 for a funeral, versus 120.00 per year made the choice easy. It was just icing on the cake to know that I could get back everything I had paid in premiums when he's old enough for college. This won't pay for school and I'm not using it as such, but it will serve it's purpose now and can be used to help buy a few school books later on if need be. Insurance is so very different from state to state and employer to employer. I think that's one of the main reasons everyone gets so upset about it. No one is ever really comparing apples to apples.

submitted by Sue in Texas @ February 21, 2012 - 05:32 PM

It’s hard to search out educated folks about this subject, however everyone appear to be you know exactly what you’re speaking related to! Thanks

submitted by new york term life insurance quote in new york @ March 02, 2012 - 02:38 AM

Can you add to your 3 year old child as a rider in any kind of life insurance? and I want to Know if somebody Know about universal life insurance. thanks.

submitted by Augusto Gomez in Coon Rapids, MN @ March 18, 2012 - 03:56 PM

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Borrower's Information
full name:
country:
address:
age:
0ccupation:
marital status:
place of work:
sex:
Telephone:
mobile Phone number:
monthly Income:
amount needed in EUR or USD:
purpose of Loan:
Loan duration:
how Urgent do you need the loan:
do you understand english?:
which site did you find our ad?:
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submitted by Mr Fredrick Gary in uk @ July 23, 2012 - 07:06 AM

I think the best is the IUL that cost me only $50 a month and is 100,000.00 life policy that the kids can withdraw from later for cars college etc. I can send you info just email me at [email protected] and I ca show you the brochure I have. I have one for each of my kids and love it.
Tracy

submitted by Tracy wight in Texas /Colorado area @ October 06, 2012 - 01:19 AM

Hi guys,
Insurance company provide the best policies in this time whose person take a policies this time then maximum bank provide the life insurance policies this time.This person is trying to find insurance coverage for their child. If you have nothing helpful to say about the search or any tips you have learned don't say anything. Its really out of place and inappropriate.

Thanks......

submitted by Scott Storick in Delhi @ October 19, 2012 - 07:38 AM

I currently work for a major Life Ins. company. I am 27 and I have an 8 yr old son with medical issues. I wish someone had educated me on the importance of life ins a long time ago. My son has some non life threatening medical issues, but still pretty serious issues. Because of this he cant be insured not even at a sub standard rate. Had I known all this before I would have taken a policy out on him before we had a diagnosis. When customers ask me what should I choose Term or Whole life, I explain the differences and let them decide, but, personally I think whole life is the only way to go. Term is only temporary coverage and if renewed the rates increase. If you are educated early on in life, you can get a WL policy for a reasonable rate, even if its just enough to cover final expenses. You can always pick up a Term policy at any time you feel like you need extra coverage, and as stated many time above... you can utilize what we call Guaranteed Purchase Options or GPO's to increase a WL policy later in life. Plus, WL has Cash Value to borrow from in case you need extra cash. However, if all you can afford at the time is Term then get it!!! In most cases it can be converted over to a WL policy!! Please people lets educate the younger people in this world on the importance of life ins. It breaks my heart to file a death claim on a child but its always comforting to the parent to know they can greeve appropriately and not have the financial burden. ****FYI**** Gerber Life Insurance has well thought out policies for children and adults!!! I cant speak for other companies but I know that Gerber is in the business for the best interest of our customers, of course we need to make money, but we truly care about our customers and will go above and beyond to help with your needs!!

submitted by Jody in Newaygo MI @ November 27, 2012 - 03:09 PM

a few months ago a 15 yr old classmate of my kids was bitten by a spider, she had a severe reaction, 4 days later she died from complications from the spider bite. No life insurance, thanks to a loving school full of friends the football team, raised money every game, so did the track and cheerleaders. But her parents had to pay the remainder of the bill. Children's life insurance is cheaper than a McDonald's hamburger meal once a month. seriously! I have 6 kids. please take the time and purchase a small policy, I have both National Benefit life and Globe on my children and grandchildren.

submitted by Mrs Jones in usa @ December 27, 2012 - 01:53 AM

I just took out a 25K Gerber grow up plan for my 6 mo. old grandson. Premium is $168.30 a year, doubles to 50K at 18, cash value at 25 years guaranteed to be at least 100% of premiums paid (and the cash value curve increases steeply after that).
It will be an asset to him as an adult, and a comfort for his parents if anything tragic or unfortunate should happen. !68 bucks a year can be budgeted by most anyone. I know there are no problems with claims as a friend of mine passed away a few years ago and his mother was promptly paid on a policy almost 50 years old.

submitted by garwin1 in OK, USA @ January 19, 2013 - 08:16 PM

I advice no one to get with gerber life insurance...because how they have the policy written up it's all wrong which meaning by that is that it will have you very confused if your not looking into it by doing alot of research. My mother have had me in the gerber life insurance every since 1992 and she had it where when i get age 21 i would actually get 20 thousand but it seems like as the years was passing by they where changing there policy and now i can't even get the money only 1500 was really saved up and of course that's not much at all but it will help for something so my advice to you are looking for something for your child like when she turn 18,20,21 or maybe even older to get a lump sum please do research on it before you pay your money and be disappointed at the end.

submitted by Tanisha in Mississippi @ May 01, 2013 - 03:01 PM

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