All Life Insurance Tips

Has anyone bought their baby gerber life insurance?

Public Comments

1. yes and im very pleased with it
2. no, but we've seriously thought about it. It seems to be the best insurance out there. You hate to think about needing life insurance for your baby, but it also can benefit them in 18 to 20 years when they need money for something.
3. It's a waste of your money unless your child is born with a medical condition that is potentially fatal. If you feel you must have a policy, request a policy that will allow you to add additional children, although I don't know if these exist any longer.
4. No I feel that its better to do a family life insurance as it would be more productive and do your research first as if you child cashes out by the approved age she may only get what you put in so in that case a savings bond would be better :)
5. I did. My older son had a policy from another insurance company so when my youngest was born we planned to do the same. I received the Gerber materials and the coverage was the same and less expensive so we went with that instead. We don't buy it to cover their deaths necessarily, we buy it because the policy builds cash value over time and guaranties our sons affordable coverage when they get older even if they have a preexisting condition.
6. It's a terrible product. Here's why. First off, you really don't need more than $8-10k of life insurance on a baby. enough to cover funeral and burial cost if , God forbid, something were to happen. I recommend, when parents get their LI policy (and it really is a must have for parents) they get a child rider built in. Less expensive and more than enough coverage. as for the cash value? Yes, it does have a CV built in but PLEASE, PLEASE PLEASE people take a very careful look at what you're getting. you get a terrible rate of return (about 3% if you're lucky) which, considering an inflation rate of 3% is at best a cost of living adjustment, you don't have control or ownership of your money, the CV doesn't grow AT ALL for the first 2 years (how would you feel if you were to put your money in a bank to save and after 2 years you asked how much was there and they said ZERO?) but most of all there's much better options out there. Buy yourself a good term life policy with a $10000 child rider and INVEST the money you save. for your child (in the US) you can invest in a 529 college savings plan which has great tax benefits, you control the money and you can allocate it to mutual funds here you'll get a MUCH better rate of return. Life Insurance is just NOT a good savings vehicle which is why most INDEPENDENT financial experts recommend 'buy term, invest the difference on your own' Good luck feel free to contact me through Y? if you have any more detailed questions
7. lifeinsurance.awardspace.info - try this one. I have their insurance and, as remember, they can provide such a service.