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A Closer Look at the Gerber Grow-Up Plan

We have heard it said that it is never too early for life insurance, however should you really insure your infant from, well, infancy? The Gerber Life insurance company thinks that you should. If your child is healthy, and is anywhere from two weeks of age up to twelve years, he or she is eligible for coverage under the Gerber life insurance plan with coverage ranging from as little as $5,000 to as much as $30,000. What kinds of policies does Gerber offer? The only kind of policy offered by Gerber Life Insurance is a whole life insurance policy, which means that the insurance policy lasts for the lifetime of your child as long as premiums are paid. The great news about this is that the plan will last for your child�s entire lifetime, and the rates are locked in from the inception of the policy. His or her rates will never go up no matter what path his or her life takes. Any other benefits? In addition to the incredibly low premiums that your child is going to lock in for his or her lifetime, you get the added bonus of a special �maturity� when your child turns 21. At this age, the value of the policy automatically doubles for your grown child without a rate increase, meaning that maximum coverage rises from $30,000 to $60,000 without any action necessary on your part. This is great news in a world like ours where the price of everything is going up all the time. Your child also has the option at age 21 and again at age 28 to buy additional coverage from the Grow Up plan. This additional coverage comes at a standard rate regardless of things like occupation or military status, possibly providing an additional boon to your son or daughter. Will my child ever need additional coverage? In most cases, the answer is �yes�, however your child is more likely to need additional coverage of a different type entirely. If your child takes out a loan for which a loved one will become responsible should something happen, then he or she should take out term life insurance to help cover the cost of the loan in the worst cases. Term life insurance can be bought in increments of a year to thirty years, and is situational, whereas whole life insurance is something that will remain with your child for his or her entire lifetime. Is the Grow Up plan for my family? If you can afford a life insurance policy for your child, then it is a great gift to him or her when you child is older and ready to step out into the world. He or she will have the security of knowing that their final costs are covered should something happen, and that their loved ones will not be burdened with putting them to rest. Payments for someone so young are actually ridiculously low, and for only a dollar a month in some cases, you can give your child a lifetime of security, at least as far as life insurance is concerned. The Gerber Life Insurance company�s Grow Up plan is a truly great boon for any child lucky enough to have been gifted with a policy.

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