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what do you think of a child having life insurance???

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I have always ponderd whether or not I should get my children life insurance plans....I mean me and DH have them, but I cant imagine collecting a check on my kid dying.


Do you have one for your children???


What do you think of children life insurance????


Can someone please clarify what the Gerber life insurance plan actually is??????

by on May. 7, 2013 at 7:41 PM
Replies (41-49):
sjenkins8208
by Member on May. 8, 2013 at 1:57 PM
Yes we have one. Ours is through state farm. We got it after a family friends child died, and watched them struggle to not only plan a funeral, but try and fund something so unexpected at such a hard time. It was awful. When ds turns 18 it stops and he gets the money to either put back into a plan he chooses or whatever he wants I guess. I just hope he uses it wisely, saving it or something.
dtm1491
by on May. 8, 2013 at 2:08 PM
That's what I got the 20k. She is 10 and I pay $9.95 a month.


Quoting MrsCarnes88:

I also have the gerber plan for both each have 20k and when this one is born I will again have the same policy and it is very cheap..




Quoting dtm1491:

I have the Gerber Life Insurance Policy. The rate is locked in until my dd is 18. When she is of age the policy is in her name only. She has the option of cashing it in on the monetary value or continuing with a low rate of life insurance coverage for herself.



RobinBright
by Gold Member on May. 8, 2013 at 3:41 PM

We have $10,000 on each kiddo, included as a rider under our own life insurance.  The beneficiaries are us first, to be transferred to the people we have named as legal guardians should we die while the kids are minors.  

JustBreath2013
by on May. 8, 2013 at 4:05 PM
Well being military, everyone is automatically covered. Each child has 150,000.00 I have 250,000.00 and dh has 500.000.00. Funerals are expensive. Military or not my kids would have 10,000.00 for funeral costs.
LittleCondon
by on May. 8, 2013 at 4:10 PM

We have the Gerber life insurance plan on DD. She had some medical trouble as an infant (which carries on with her diagnosis of Anchondroplasia dwarfism) and so it was smart for us. It was very unlikely that she would pass from that, but some of the complications with the dwarfism made us a little weary. Our little one on the way will have it too.

goldilocksbecky
by on May. 8, 2013 at 4:19 PM

She's not talking about a "rider" as in "a passenger in a vehicle".  She means a "rider" (as in "an addition or extra add-on") to her and her husband's life insurance policy.  The kids don't have a seperate policy, but are an "add-on" to her and her husband's policy.

Quoting kitty8199:

A rider? This isn't auto insurance. Life insurance is what she means. That won't cover a funeral if it isn't auto related.

Quoting ladybuglove08:

My kids are included as a rider under mine & dh's policy. It would cover funeral expenses

 

 

jen_keiko
by on May. 8, 2013 at 4:24 PM

if you get a whole life insurance policy for them, you can use it to pay for college later on... or they can have it to put the down payment on their first house. it's much better than term life insurance b/c the payments stay the same and even after you are done paying the premiums, its value continues to grow. :)

CatFishMom
by on May. 8, 2013 at 4:24 PM

With as many deaths and tragedies that have ocurred suddenly in my life the past two years, I will have policies on my children as soon as we can afford it. (probably when open enrollment comes back in October for my husband's job) It's not a matter of collecting a check-that money would be put toward the services and toward my husband's time off work while we were grieving to pay the bills. If a miracle ocurred, the rest I would put into accounts for my remaining children. I learned the hard way that life insurance is a must. I dont know anything about the Gerber plans.

kitty8199
by Ruby Member on May. 8, 2013 at 4:26 PM
Ooohhhh ok.

Quoting goldilocksbecky:

She's not talking about a "rider" as in "a passenger in a vehicle".  She means a "rider" (as in "an addition or extra add-on") to her and her husband's life insurance policy.  The kids don't have a seperate policy, but are an "add-on" to her and her husband's policy.


Quoting kitty8199:

A rider? This isn't auto insurance. Life insurance is what she means. That won't cover a funeral if it isn't auto related.


Quoting ladybuglove08:

My kids are included as a rider under mine & dh's policy. It would cover funeral expenses

 


 

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