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Gerber life insurance policy for my baby good or bad idea?

Im thinking about getting this policy for my baby and i want to make sure its a good policy. has anyone had this or heard of it? i want to make sure its a good one. im not getting this incase she dies so i am not morbid!!!! i am thinking about getting this bc when she turns 18 the policy doubles to $10,000 and when she is 25 she can cash it in and get the 10k. that way she will have enough money to start off her adult life. so i am not morbid, i am thinking of her future!!!!

Public Comments

1. Our financial advisor advised against it, saying it was a ripoff. I would go with a reputable company for life insurance, whether for you or your baby. You are better protected this way.
2. there are better. Contact a broker and have them sort out the policy options for you. dont just get the Gerber one because it is what you got from the hospital or in the mail---i got the same thing and we called a broker and got a much bigger policy that works better. I looked into these policies for the same reason as you- i agree there is nothing morbid about setting up your child's future. Most parents will not have a large sum of money to give their kids when they head of to college, or post college, so the ability to cash out a policy is great. That is how all WHOLE LIFE insurance policies work. You can cash them out along with any equaty they may have build. The gerber policy is not the best, you can put the same amount of money into a policy with a more legit life insurance plan and get more out of it. Also, consider that your funds get invested and then the equity you build you can cash out- as well as your premiums (in a regular whole life policy) but if your policy builds not equity you really lose out. With the current economic situatuion you need to know how your funds get invested and go with a more reputable financing company than Gerber.
3. Ive heard of it, I got something about it in the mail, but I think they used money for you as an incentive. I dont know, it didnt sit right with me, so I shredded it. When I say money for you, I mean you get money for signing up
4. Unless your baby is the bread winner of the family or makes a good size income then life insurance for a baby is a total waste of money! You don't need it.
5. i really dont understand baby life insurance- it seems so sad and morbid- the last thing i want to think about when i bring home my new baby is money in case they die- life insurance is for people with incomes that will financially harm the family if gone-
6. Babies and children do not need life insurance. Make sure you and your husband are well covered, though.