![]() Now the surviving spouse has to pay for the house, car, food, clothing, and other necessities on their own, and find a way to continue saving for their children's education. A particularly infamous commercial for the Gerber Life Grow-Up Plan, a life insurance plan for children offered by the Gerber Company. The spouse dies in a car accident during a severe thunderstorm, and the family income is cut in half. For example, two partners each earn $50,000 per year and have two young children they hope to send to college. The primary purpose of life insurance is to protect the insured's family and dependents from financial calamity if they die prematurely and their income is cut off. ![]() The death benefit coverage automatically doubles once the child turns 18 (the monthly premium will remain the same). The premium rates never increase, coverage never decreases, and the policy lasts forever. Gerber's death benefit's maximum amount is $100,000. The Gerber Grow-Up ® Planis a whole life insurance policy for children ages 0-14.Once you have the policy, all you have to do is make budget-friendly. It takes just minutes with no medical exam. The purchase of mutual funds may be a better choice than whole life insurance for saving towards a child's future financial needs. Applying for the Grow-Up Plan really is easy.Gerber Life Grow-Up plan reviews state it’s affordable for children’s life insurance. With this plan, you can buy up to 50,000 coverage for children under 14. Because children are so young, premiums on these policies tend to be quite affordable. The Gerber Life Grow-Up plan is whole life insurance for children that doubles in coverage when they turn 18 without increasing rates. ![]() SmartAsset does not review the ongoing performance of any. In most situations, children do not need life insurance but can benefit from the policy once they are older. Stocks: Individual stocks are shares of a company that can increase in value as a company grows.The Gerber Grow-Up Plan is a whole life insurance policy marketed to new parents for their children.
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