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Gerber life insurance???

Does anyone have gerber life insurance for their child how is it? It sounds to good to be true I just applyed for my daughter who is 5 months. Thats great if it is all it says it is but I was just wondering anyone who has it could tell me some info.

Public Comments

1. I have it for my boys, got them each a policy when they were born. Thought it was a nice idea and have talked to a few others who have policies and recommended it. Each year they get a cash value but I haven't known anyone to take advantage of it. My boys are 3 and 5 so I am hoping that it really is what it says it is and they can keep it up into adulthood.
2. Here is a really good article on SmartMoney.com that is directly answering your question, hon. Hope it helps: "Do Newborn Babies Need Life Insurance?" http://www.smartmoney.com/consumer/index.cfm?story=20031013
3. I dont have gerber, but I am a liscensed insurance agent. I can tell you that I have studied the policies before (all the fine print included). It isnt too good to be true, believe it or not they are making a lot of money off of these policies. It is basically a whole life policy that grows cash value over time. When it reaches its maturation date( the cash value equals the amount you haved payed in) the money is awarded to the beneficiary. They are taking the money in the meantime, investing it and earning around 12% interest. In the tragic event of death. They do pay the money to the beneficiary. I would say that it is a sound policy and Gerber isnt exactly a maw and pop company so you don't have to worry about then going under.. Also, I should tell you that I do not have whole life insurance, I dont think it is really much of a "savings" I do have term insurance on my husband and my self which includes a child term rider for all of our children for $25,000