| Posted By |
Message |
| Pages: [1] 2 |
waterspout4
My loves
Member since 5/06 19150 total posts
Name:
Kelly
|
Baby life insurance
Has anybody gotten this? What about that Gerber Life Insurance policy, is it good? Any advice? TIA!!
|
Posted 4/3/08 11:50 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
KartveliT
...
Member since 1/08 8363 total posts
Name:
|
Re: Baby life insurance
we have gerber life insurence for our DD.
Message edited 4/3/2008 12:17:38 PM.
|
| Posted 4/3/08 12:17 PM |
| |
|
|
|
Re: Baby life insurance
We have Gerber too. My Dad also took an insurance policy out for DD but I don't know who it's through yet.
|
| Posted 4/3/08 12:30 PM |
| |
|
Laura1976
Member since 5/05 5754 total posts
Name:
Laura
|
Re: Baby life insurance
strange question, but what is the purpose of life insurance for DC?
|
| Posted 4/3/08 12:36 PM |
| |
|
CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
|
Re: Baby life insurance
Posted by Laura1976
strange question, but what is the purpose of life insurance for DC?
I may be wrong and it sounds kind of morbid but I think it is to cover funeral costs. We do not have this.
ETA: I do not think it is morbid to get this, just the idea of its need is. However, I can definitley see why it is available 
Message edited 4/3/2008 1:19:47 PM.
|
| Posted 4/3/08 1:04 PM |
| |
|
Gumpslilqtpie
Living the DREAM!!!
Member since 7/06 2646 total posts
Name:
Kimmer
|
Re: Baby life insurance
We have Gerber life for Josh and will be getting it for this baby as well. I do agree that it is kind of morbid but unfortunately as we all have been reminded lately, anything can happen. I would just like to be prepared God forbid something should happen.
|
| Posted 4/3/08 1:07 PM |
| |
|
KartveliT
...
Member since 1/08 8363 total posts
Name:
|
Re: Baby life insurance
...an advantage for life.
The GROW-UP Plan® is a whole life insurance policy designed for healthy children ages 14 days through 12 years. As a parent or grandparent, you can ensure the little ones who mean so much to you will enjoy practical insurance benefits that can be a big help to them later in life, including:
Adult-size coverage
with child-size premiums
Start your child out now with a $5,000, $10,000, $15,000, $20,000, $25,000, $30,000 or $35,000* whole life policy and lock in the lowest possible premium. The cost will never increase.
Coverage automatically doubles at age 21
On the policy anniversary after your child becomes 21 years old, the face amount of his or her GROW-UP policy automatically doubles to $10,000, $20,000, $30,000, $40,000, $50,000, $60,000 or $70,000*. And, because your rates are locked-in from the start, your child pays the same low childhood rates for twice the coverage!
Builds cash value
The plan accumulates cash value and will continue to do so as long as premiums are paid. After 20 years, the cash value is equal to or greater than 100% of premiums paid.
Availability of additional insurance guaranteed
Your child will have the option to purchase an additional amount of coverage on the policy anniversary after age 21 (when the face value of the policy automatically doubles without any increase in the premium) and again on the policy anniversary at age 28. This additional insurance can be purchased at our standard rate for a 21 or 28 year old—regardless of health, job or military status—or anything else.
As the years go by, the policy accumulates cash value. This is money that is available if there is ever a need for ready cash. After 20 years, the cash value is equal to or greater than 100% of premiums paid. In other words, even though the policy has provided full insurance protection and all guarantees for 20 years, your child can get back every dollar paid in premiums if the policy is turned in.
|
| Posted 4/3/08 1:13 PM |
| |
|
ABCiverson
<3 my family
Member since 1/06 7465 total posts
Name:
Amanda
|
Re: Baby life insurance
Posted by CrankyPants
Posted by Laura1976
strange question, but what is the purpose of life insurance for DC?
I may be wrong and it sounds kind or morbid but I think it is to cover funeral costs. We do not have this.
You are right. My DH has insurance through the military for our kids. It is morbid but we needed it for our son. We would have had to pay $7,000 out of pocket for his funeral if we didn't have it.
|
| Posted 4/3/08 1:14 PM |
| |
|
CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
|
Re: Baby life insurance
Posted by ABCiverson
Posted by CrankyPants
Posted by Laura1976
strange question, but what is the purpose of life insurance for DC?
I may be wrong and it sounds kind or morbid but I think it is to cover funeral costs. We do not have this.
You are right. My DH has insurance through the military for our kids. It is morbid but we needed it for our son. We would have had to pay $7,000 out of pocket for his funeral if we didn't have it.
I just edited my post to clarify. I am so sorry you and your family had to go through this
|
| Posted 4/3/08 1:24 PM |
| |
|
2BEANS
wow time is going fast.
Member since 9/07 16106 total posts
Name:
Tina
|
Re: Baby life insurance
I was thinking about doing the gerber one but i thought it was a gimic, but now after reading that moms on here have done it. I think im going to do it.
|
| Posted 4/3/08 1:38 PM |
| |
|
Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
|
Re: Baby life insurance
I can help in anyone who wants more info since I do provide it here..at my job and we have lots of policies for children....benefits also tend to be some sort of way of providing some money if needed.
Also, guaranteed insurability
Fm ME if interested 
Message edited 4/3/2008 1:44:50 PM.
|
| Posted 4/3/08 1:42 PM |
| |
|
|
|
Re: Baby life insurance
We have a small Gerber policy and a large policy through Met life I believe. I have a great agent I can refer you to, FM me if you are interested.
|
| Posted 4/3/08 2:38 PM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: Baby life insurance
Posted by waterspout4
Has anybody gotten this? What about that Gerber Life Insurance policy, is it good? Any advice? TIA!!
i don't like that product at all. If you are interested in life insurance, there are much better products out there then the Gerber life product. I have posted about it before in detail if you wanted to search.
|
| Posted 4/3/08 2:55 PM |
| |
|
DancinBarefoot
06ers Rock!!
Member since 1/07 9534 total posts
Name:
The One My Mother Gave Me ;-)
|
Re: Baby life insurance
I recently (in the last two weeks) read something about money wasting and life insurance for infants was in the top 10. I'll try to find it.
|
| Posted 4/3/08 3:50 PM |
| |
|
ArmyOfBabies
Growing older but not up
Member since 7/07 4427 total posts
Name:
Jeri
|
Re: Baby life insurance
DH works for New York Life, so we bought DD a whole life policy. When she is ready for college she'll have thousands available.
|
| Posted 4/3/08 3:52 PM |
| |
|
ddunne2
LIF Adult
Member since 7/05 4189 total posts
Name:
Doreen
|
Re: Baby life insurance
Posted by ArmyOfBabies
DH works for New York Life, so we bought DD a whole life policy. When she is ready for college she'll have thousands available.
We have NY Life also. Another benefit for the childrens whole life plan is that it guarnetees them insurability throughout their life. So for example, if they hit their 20's and have some issue that would normally make it very difficult to get life insurance, a whole life policy from NY Life at least will guarentee insurablilty up to a certain amount. For dollars a month, you can never be too safe.
|
| Posted 4/3/08 3:57 PM |
| |
|
ArmyOfBabies
Growing older but not up
Member since 7/07 4427 total posts
Name:
Jeri
|
Re: Baby life insurance
Posted by ddunne2
Posted by ArmyOfBabies
DH works for New York Life, so we bought DD a whole life policy. When she is ready for college she'll have thousands available.
We have NY Life also. Another benefit for the childrens whole life plan is that it guarnetees them insurability throughout their life. So for example, if they hit their 20's and have some issue that would normally make it very difficult to get life insurance, a whole life policy from NY Life at least will guarentee insurablilty up to a certain amount. For dollars a month, you can never be too safe.
I forgot about that, I'm glad you pointed that out!!!
ETA: Also if when our kids grow up and start their own family and buy a house they can get a million dollar policy for much cheaper since they'll have had insurance their whole life.
Message edited 4/3/2008 4:02:29 PM.
|
| Posted 4/3/08 4:00 PM |
| |
|
shellybean
Love my Baby Boy!
Member since 4/07 5191 total posts
Name:
mich
|
Re: Baby life insurance
am i the only one that wouldnt do this..i feel strange about it...i cant even get one for my hubby...i know it doesnt make sencse but it just freaks me out!!
|
| Posted 4/3/08 6:53 PM |
| |
|
ddunne2
LIF Adult
Member since 7/05 4189 total posts
Name:
Doreen
|
Re: Baby life insurance
Posted by shellybean
am i the only one that wouldnt do this..i feel strange about it...i cant even get one for my hubby...i know it doesnt make sencse but it just freaks me out!!
I hope you will think about it and soon change your mind...especially about a policy for your DH. Its a hard thing to talk about, but worse would be for a tragedy to happen and you would be in a horrible situation and your life would be full of financial worries. Its hard to sit down and think through how long you want to support your familiy with a life insurance policy if god forbid something happened. But its so so necessary. We even went as far as guessing a college for our kids so we could ballpark tuitiion and know that their education would be paid for if both DH and I passed.
|
| Posted 4/3/08 7:42 PM |
| |
|
Lillykat
going along for the ride...
Member since 5/05 16253 total posts
Name:
|
Re: Baby life insurance
Posted by shellybean
am i the only one that wouldnt do this..i feel strange about it...i cant even get one for my hubby...i know it doesnt make sencse but it just freaks me out!!
Nope we didn't do this either - I don't think it is worth it - but we do have an life insurance policy on DH - just not planning on getting one for DD - honestly I never met anyone who had one until I came on here.
|
| Posted 4/3/08 7:45 PM |
| |
|
ABCiverson
<3 my family
Member since 1/06 7465 total posts
Name:
Amanda
|
Re: Baby life insurance
Posted by ddunne2
Posted by shellybean
am i the only one that wouldnt do this..i feel strange about it...i cant even get one for my hubby...i know it doesnt make sencse but it just freaks me out!!
I hope you will think about it and soon change your mind...especially about a policy for your DH. Its a hard thing to talk about, but worse would be for a tragedy to happen and you would be in a horrible situation and your life would be full of financial worries. Its hard to sit down and think through how long you want to support your familiy with a life insurance policy if god forbid something happened. But its so so necessary. We even went as far as guessing a college for our kids so we could ballpark tuitiion and know that their education would be paid for if both DH and I passed.
I agree. Its really important. Funerals alone are expensive.
|
| Posted 4/3/08 7:48 PM |
| |
|
ABCiverson
<3 my family
Member since 1/06 7465 total posts
Name:
Amanda
|
Re: Baby life insurance
Posted by Lillykat
Posted by shellybean
am i the only one that wouldnt do this..i feel strange about it...i cant even get one for my hubby...i know it doesnt make sencse but it just freaks me out!!
Nope we didn't do this either - I don't think it is worth it - but we do have an life insurance policy on DH - just not planning on getting one for DD - honestly I never met anyone who had one until I came on here.
I NEVER thought my child would die so young. We would still be paying off funeral debt (3 years after his death) if we didn't have it. You wouldn't believe how much things cost when burying someone even a little child. I was shocked at how much a plastic type casket was Its a horrible thing to have think about but I am glad that in the moment I didn't have to worry about how we were going to pay for it. Also I was able to get my son a big beautiful headstone. If we didn't have the insurance he would only have a tiny little grave marker with just his name on it
|
| Posted 4/3/08 7:53 PM |
| |
|
ArmyOfBabies
Growing older but not up
Member since 7/07 4427 total posts
Name:
Jeri
|
Re: Baby life insurance
Posted by ABCiverson
Posted by Lillykat
Posted by shellybean
am i the only one that wouldnt do this..i feel strange about it...i cant even get one for my hubby...i know it doesnt make sencse but it just freaks me out!!
Nope we didn't do this either - I don't think it is worth it - but we do have an life insurance policy on DH - just not planning on getting one for DD - honestly I never met anyone who had one until I came on here.
I NEVER thought my child would die so young. We would still be paying off funeral debt (3 years after his death) if we didn't have it. You wouldn't believe how much things cost when burying someone even a little child. I was shocked at how much a plastic type casket was Its a horrible thing to have think about but I am glad that in the moment I didn't have to worry about how we were going to pay for it. Also I was able to get my son a big beautiful headstone. If we didn't have the insurance he would only have a tiny little grave marker with just his name on it
I'm sorry about your baby!
You never know what life will throw at you. Even if it seems creepy to think about it, it's better to be prepared.
|
| Posted 4/3/08 8:02 PM |
| |
|
shellybean
Love my Baby Boy!
Member since 4/07 5191 total posts
Name:
mich
|
Re: Baby life insurance
Posted by ddunne2
Posted by shellybean
am i the only one that wouldnt do this..i feel strange about it...i cant even get one for my hubby...i know it doesnt make sencse but it just freaks me out!!
I hope you will think about it and soon change your mind...especially about a policy for your DH. Its a hard thing to talk about, but worse would be for a tragedy to happen and you would be in a horrible situation and your life would be full of financial worries. Its hard to sit down and think through how long you want to support your familiy with a life insurance policy if god forbid something happened. But its so so necessary. We even went as far as guessing a college for our kids so we could ballpark tuitiion and know that their education would be paid for if both DH and I passed.
I know i am wrong here but really i just cant even think about it...my brother has it and it freaks me out...not sure why exactly....
|
| Posted 4/3/08 9:42 PM |
| |
|
shellybean
Love my Baby Boy!
Member since 4/07 5191 total posts
Name:
mich
|
Re: Baby life insurance
OMG i am so sorry about your DC...its just a personal choice i guess...my family is just weird with this kind of stuff...my mom told me the other day that they never even had a will, when they would go away without us they would leave a note just in case...Must run in the family...LOL
But after this i will consider it...
|
| Posted 4/3/08 9:44 PM |
| |
|
| Pages: [1] 2 |
