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is gerber life insurance for babies a waste of money?

Public Comments

1. well I myself couldn't fathom the idea, of having life insurance on my baby. Just do some kind of college fund instead =)
2. no my mom got it for all her grandchildren. its good to have life insurance on everyone
3. Yes, the loss of a child is not an economic loss, so why would you need a payoff at their death? It would be better to buy a savings bond to help with the child's education.
4. I don't think it's a waste, but I think there are a lot better policies out there. Whole life policies are very inexpensive when started early and as the name states, they last for one's whole life (vs. term policies which expire). My dad started one for me when I was born and the premiums are about $10/month and will cover all my final expenses when the time comes (currently has a value of over $30K with only about $3500 investment).
5. I think that the idea is downright sad but if you feel that helping the child out later in life by that than whatever
6. No anthing can happen life isn't promised to anybody and it's always good to cover all angles. Funerals are expensive these days and the average person may not have that money on hand at the time. My daughter is 6 months and i pay $19.08 a month and it is worth every penny!
7. Whether it's a waste is something you have to think about yourself. Since the child's death would not impact your family financially (although obviously it would in other ways) life insurance for babies is not really necessary. The one advantage to insurance for young children, though, is that they can choose to continue it as adults. Should they wind up self-employed or in a job with minimal benefits, they can continue existing coverage. This sounds like a pointless scenario, but a good friend of mine was in that exact situation (she started her own business). It turned out that she also had a rare medical condition that would have made her just about uninsurable if she started from scratch.
8. Does anybody depend on the baby's income? No. Why does a baby need life insurance? He doesn't. Yes, it's a waste of money.