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Is anyone doing the Gerber Life Insurance for their LO?

Just wondering. I have received tons of information from them.

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tns11

Asked by tns11 at 1:35 PM on Nov. 4, 2008 in Just for Fun

Level 1 (0 Credits)
Answers (6)
  • I have and my parents bought one for me when I was born.
    sbastille

    Answer by sbastille at 1:39 PM on Nov. 4, 2008

  • It's a bad waste of your money. If you really want actual life insurance, it's super cheap from actual insurance companies, and if you want a savings account, then just open one..LOL
    christyg

    Answer by christyg at 2:04 PM on Nov. 4, 2008

  • We have it. It is cheaper than the life insurance my husband's work offers.
    purpleducky

    Answer by purpleducky at 2:16 PM on Nov. 4, 2008

  • No, I've thought about it and I'm hearing its a scam. I'm considering a regular insurance company for my son.
    LaurenKaye29

    Answer by LaurenKaye29 at 3:12 PM on Nov. 4, 2008

  • Its a waste of money to buy life insurance on a child. If you think you are doing it so they can get insurance easier as an adult, really its uncommon for someone to be denied unless they have a fatal illness. Life insurance is meant to replace the lost income of a working adult. If you are thinking its a good tax free way to save for college actually the 529 plan is intended for that purpose.
    Here's a good link: http://money.cnn.com/2005/04/05/pf/expert/ask_expert/index.htm

    Anonymous

    Answer by Anonymous at 4:49 PM on Nov. 4, 2008

  • Life Insurance plans for children are a rip-off. Children do not bring income into the family. If you want it for, heaven forbid, burial expenses just in case, get a rider on your own policy.
    blg119

    Answer by blg119 at 12:41 PM on Jun. 23, 2009

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