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Gerber Life insurance?

My mom says Im a Gerber baby and she pays monthly into them, idk how much. But from what Ive heard when you reach the age of 25 or something like that Gerber gives you money? Im not sure and I was wondering if its true or not. Ive asked my mom and she said she doesnt know. So is it like regular insurance that if i die or get killed the money will go to someone in my family or do I get a percentage of whatever my moms been paying into?

Public Comments

1. She is not one of the brightest crayons in the box is she's buying this life insurance. Either that, or she never gave it much thought. Life infurance for kids is never a winning proposition. You only need insurance if you have dependents or outstanding debts that need to be paid off upon your death. Let her enjoy paying for your life insurance. It may only be a dollar a month. But do realize that most rich people in this world never carry life insurance. They become self- insursured. That means - they save up enough money in retirement account (millions) to the point where life insurance is not longer needed. Look up profitable companies - they are all self insured. That means they actually saved up money in an account. /
2. I don't know how your policy is, cause they add features every few years. But Life insurance is a Misnomer (that means its opposite of what you think it is) Its actually death insurance, and it's really pennies a day for the parents - but if when you are 21 years old, you have the option to convert the policy to "Whole life" and double the amount from the basic 10,000 to 20,000. That said, the policy doesn't pay unless your die, and if you keep it throughout your life, it pay the beneficiaries that you name when you convert to "WL", and it will have "cash value" which means that after the policy is completely paid for - you can borrow money against it. You need to get your hands on the actual policy and read it a few times.
3. You do not receive a percentage. If it is a whole life policy, and it has built up cash value, then you might have the option to cancel the coverage and receive the cash value instead.
4. Yep, if the owner of the policy decides to cancel the policy, she'll get a small amount of what she paid in, back, after 25 years. OR, if you die, they pay out the larger amount to the policy owner. You are not the policy owner. You will get nothing, unless mom decides to give the policy to you.
5. lifeinsurance.awardspace.info - try this one. I have their insurance and, as remember, they can provide such a service.