| Posted By |
Message |
Aga
hello baby Albert
Member since 9/05 7750 total posts
Name:
Aga
|
Need opinions on Gerber Life Insurance
is it worth the money? did you purchase it? would like to know your opinions  thanks 
|
Posted 7/10/07 4:12 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: Need opinions on Gerber Life Insurance
I'm not a huge believer in life insurance for babies unless their is some genetic trait that may be passed on and prevent insurablility in the future. There are some very good reasons for it but they are very specific IMO.
|
| Posted 7/10/07 4:22 PM |
| |
|
EmmaNick
*
Member since 12/06 16001 total posts
Name:
*
|
Re: Need opinions on Gerber Life Insurance
Posted by shamrock124
I'm not a huge believer in life insurance for babies unless their is some genetic trait that may be passed on and prevent insurablility in the future. There are some very good reasons for it but they are very specific IMO.
The Gerber plan isn't just regular life insurance. It's whole life that builds cash value and the rate remains the same, even when they get older. God forbid your child has a life threatening illness when they get older and cannot be insured, at least they have the Gerber policy.
My grandma purchased policies for both of my kids that I'll pay on in the event that she passes away.
|
| Posted 7/10/07 4:45 PM |
| |
|
MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
|
Re: Need opinions on Gerber Life Insurance
we did a whole life with new york life insurance but may be switching to prime america, not sure.
|
| Posted 7/10/07 5:03 PM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: Need opinions on Gerber Life Insurance
Posted by Summerrluvv
Posted by shamrock124
I'm not a huge believer in life insurance for babies unless their is some genetic trait that may be passed on and prevent insurablility in the future. There are some very good reasons for it but they are very specific IMO.
The Gerber plan isn't just regular life insurance. It's whole life that builds cash value and the rate remains the same, even when they get older. God forbid your child has a life threatening illness when they get older and cannot be insured, at least they have the Gerber policy.
My grandma purchased policies for both of my kids that I'll pay on in the event that she passes away.
The Gerber plan is regular whole life insurance that any company can sell and builds cash value but I wouldn't use it as an investment vehicle so the cash value would be incidential.
I did mention insurablitity as a reason for considering purchasing life insurance.
|
| Posted 7/10/07 5:14 PM |
| |
|
EmmaNick
*
Member since 12/06 16001 total posts
Name:
*
|
Re: Need opinions on Gerber Life Insurance
Posted by shamrock124
Posted by Summerrluvv
Posted by shamrock124
I'm not a huge believer in life insurance for babies unless their is some genetic trait that may be passed on and prevent insurablility in the future. There are some very good reasons for it but they are very specific IMO.
The Gerber plan isn't just regular life insurance. It's whole life that builds cash value and the rate remains the same, even when they get older. God forbid your child has a life threatening illness when they get older and cannot be insured, at least they have the Gerber policy.
My grandma purchased policies for both of my kids that I'll pay on in the event that she passes away.
The Gerber plan is regular whole life insurance that any company can sell and builds cash value but I wouldn't use it as an investment vehicle so the cash value would be incidential.
I did mention insurablitity as a reason for considering purchasing
...but I believe the rates will go up as you get older with any other life insurance policy. I think that's the selling point of the Gerber, the rate stays the same forever.
|
| Posted 7/10/07 7:24 PM |
| |
|
-Lisa-
---------------
Member since 5/05 6530 total posts
Name:
Lisa
|
Re: Need opinions on Gerber Life Insurance
I don't understand the concept behind baby life insurance. Its not MEDICAL insurance right? Its life insurance.
maybe I'm missing something, but I never had life insurance (outside of employers policies) until I had a mortgage and a baby that I'd be leaving behind. Seems like a marketing ploy.
|
| Posted 7/10/07 7:53 PM |
| |
|
apb17
My guys
Member since 5/06 2173 total posts
Name:
Alli
|
Re: Need opinions on Gerber Life Insurance
My MIL purchased the policies for my boys. I believe the rates stay the same and after 20 years or so it has a $5000 value.
|
| Posted 7/10/07 7:53 PM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: Need opinions on Gerber Life Insurance
Posted by Summerrluvv
...but I believe the rates will go up as you get older with any other life insurance policy. I think that's the selling point of the Gerber, the rate stays the same forever.
No, rates never go up with a whole life policy. The premiums are set at the the time the policy is sold so whatever premium I get today, I will be paying the same premium 10 years from now, 20 years from now, etc until the policy endows.
I read through the Gerber Grow Up Life Insurance and I was not impressed. I think you could probably find a better policies with other insurance carriers...Some of their "selling" points were weak...such as in 20 years the cash value is guaranteed to be equal to the premuims paid well at $15.90 per month and 20 years - that is only $3816.00 and a money market at 5%, compounding for 20 years will give you over $7100. Also, being able to buy up to 250k worth of insurance at a standard rate is no bargin.
There is nothing wrong with the policy and it's cheap enough. I just wanted to point out some of the other points in the policy.
|
| Posted 7/10/07 8:33 PM |
| |
|
Faithx2
All good things in 2016!!
Member since 8/05 20181 total posts
Name:
|
Re: Need opinions on Gerber Life Insurance
Posted by shamrock124
I'm not a huge believer in life insurance for babies .
Same here
|
| Posted 7/10/07 8:34 PM |
| |
|
