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Gerber Grow-Up Plan?

Have you done it or do you know anything about it? I am interested in doing this for my children but want to know if it's worth it! THANKS!

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Asked by TylersMama05 at 10:46 AM on Jan. 3, 2009 in Babies (0-12 months)

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Answers (5)
  • Very much worth it!!!!! My Aunt has this for all 6 of her children her youngest (age 5) passed away about a month ago and gerber paid out enough money for all the funeral cost and there was some money left over so she could take time out from work to be with her family. She also has a college aged daughter who used the money to help pay down her school loans and things like that. I have enrolled my daughter so that she can have that option when she is older. I think it is well worth it

    Answer by KeagansMom08 at 11:16 AM on Jan. 3, 2009

  • I know in Suze Ormans books, she says that life insurance is meant to replace someones income if they died. Since a child doesn't have income to replace, there is no reason to have life ins. on them.

    Answer by TanyaR1024 at 2:35 PM on Jan. 3, 2009

  • although I do not have it at this time I have thought about getting it for my son. If you have the extra money and it wouldn't make life hard on you then do it.

    Answer by Anonymous at 5:20 PM on Jan. 3, 2009

  • I disagree with the person above who says there is no reason to have life ins on your child. What about funeral expenses? A decent funeral runs close to 10 grand and I don't know many people who have that kind of money just laying around incase someone passes away. I think child life insurance is a great idea. As for the Gerber plan, I wasn't too sure about it because after I did the math it didn't seem worth it but I'm not positive. We have a family plan through New York Life that actually gives our child a free 10,000 policy that he can add to after he is old enough.

    Answer by ctsassy at 11:26 PM on Jan. 3, 2009

  • I'm just repeating what I read in Suze's books. I think her reasoning was that it is extremely rare for a child to die and you would be better off putting money in savings to pay for funeral expenses. $10 grand is ridiculous for a funeral though. I would never spend that.

    Answer by TanyaR1024 at 11:48 AM on Jan. 4, 2009

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