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Is there any parents who have their children on the Gerber life insurance policy if so is it a good policy?

I need to know if you are able to get your money back when your kids grow up so they can have some type of help when they turn 21

Public Comments

1. There are better policies. Go talk to a licensed agent in your area. Good Luck .
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3. yes i have insurance policy for better future for your child and investment plans from icici prudential life insurance co. ltd....... india............. for more detail login to ... www.iciciprulife.com and Email:rakesh139859@iciciprupartner.com regards Rakesh Multani
4. do not use insurance as a retirement plan they suck. buy term and invest the rest into a better rate of return account vehicle
5. The main reason we take insurance out is to protect families from the loss of income. At younger ages, this is devastating becuz we, usually, do not have enough saved to cover living expenses, house payments and everything else for an extended period of time. Most agents do not recommend insuring children because it is rare that they die. If what you are looking for is a burial policy, the best would be term life. To answer your question, sorry for digressing, is that you can by withdrawing all money from cash value. If you do this, the policy cancels. But there will not be much in there. The cash value of a whole life policy will equal the face amount (buy one for 25k) only when the child reaches the age of 95 or 100. Check that number out for your interest rate! Pretty darn low!! You should speak with someone who has a securities license to speak with you about either a 529 plan or mutual funds. Especially if you want to help with college. Email me for more information.
6. It really depends on your own investment style and skill. Sure, you can buy term life insurance (which covers the child for a set amount of years, or term), so that the child’s life is insured for the same amount as with a Gerber or another whole life policy, and then invest the premium savings in something else with a better return. The question is, will you? One of the nice things about a whole life plan is that it’s easy to do. You pay the monthly premium and that’s it. Plus, the return is guaranteed. You’re not going to make a killing with any other “guaranteed” investments, either. Riskier investments may yield better results, or they may yield nothing. In addition, it’s going to take time and savvy to pick those investments. Is that your skill set? If so, have at it. There is also the question of paperwork. If you take out term life and make investments, you’re doing double the paperwork. That can deter a lot of people. With whole life you get the insurance and the investment in one. In addition, the earnings from a whole life policy are tax-deferred (and the death benefit is tax-free). There are other sheltered investments, such as an Individual Retirement Account, but most investments are subject to tax. You have to factor in the tax consequence when you figure out the real return on your money. Keep in mind that your grown child will be able to borrow the cash value of the whole life policy if it’s ever needed and then pay the policy back. Other investments do not offer that flexibility. One last thought: You can fund a whole life insurance policy for as little as ten dollars a month. I often wonder what the critics of whole life think you can invest in for the same amount? At that rate, it would take 52 months to save up enough to buy one share of Google stock. If you call a broker and say “I have $10 to invest this month,” the next sound you’ll hear is a big “click.” At least you won’t have to listen to the broker laughing! For more information about children’s life insurance, check out: http://www.lifeinsurancewiz.com
7. I would avoid this one, You can do better. ~