Life Insurance for Children – The Gerber Life Grow-Up® Plan (2024)

FAQs

What does the Gerber Grow Up Plan cover? ›

The Gerber Grow-Up Plan can provide life insurance coverage for children if the worst happens while they're growing up. It's a whole life insurance policy that your child could keep for the rest of their lives in adulthood, so long as they pay the premiums. The cost will not increase over time.

Yes. You can borrow against the cash value, as long as premiums are paid, by taking a policy loan. Policy loans are subject to 8% interest rate and may impact cash value and death benefit. You can also surrender the policy and receive the available cash value.

Gerber Life Grow-Up^® Plan Reviews

Parents and grandparents everywhere agree. The Grow-Up^® Plan is great, with a 4.2 out of 5 overall rating and 85% of reviewers recommending it. See below for our most recent customer reviews. "Been with for 6 years and they keep me up to date."

Rates start at $15.42 a month and stay locked for the entire term. You choose a coverage amount that fits your needs and budget, from $100,000 to $300,000.

Gerber Life Insurance class action lawsuit overview:

Gerber Life Insurance Co. has made unsolicited and illegal telemarketing calls promoting its life insurance policies, according to a class action lawsuit filed Jan. 23 in New York federal court.

Coverage Automatically Doubles During Age 18

Affirms one happy Gerber Life customer: “I love the fact that my daughter will continue to have this plan when she graduates college, and that the amount will double for her.” Your child will gain twice the coverage for the same monthly payment.

Most whole life insurance policies mature at 121 years, although some mature at 100 years. Say, for example, that you purchase an insurance policy with a face value of $10,000. Once the policy matures, the cash value of the policy should equal $10,000.

Generally, the cash surrender value equals the cash value balance minus any surrender fees on the policy. For example, your life insurance policy has a balance of $30,000. The surrender fees on the policy are $5,000. The total cash value amount is $30,000, but if you surrender the policy, you receive $25,000.

Our Gerber Life Term Life Policy is available for a duration of 10, 20 and 30 years, choose the duration that works best for you and your family. Will my premium payment go up each year? The amount you agree to pay when your coverage starts stays the same throughout your policy's term as long as premiums are paid.

What is the payout for Gerber Life Insurance? ›

How does the College Plan work? The Gerber Life Insurance College Plan is an individual endowment life insurance policy with an adult life insurance benefit that provides a guaranteed* payout of $10,000 up to $150,000 when it matures in 10 to 20 years.

Gerber Life has an A rating from AM Best and about $62 billion in life insurance policies in force. Gerber Life ranks below some other companies our team has reviewed due to its primary focus on children's policies and lower available policy limits.

The adult is the policy owner until the child reaches age 21, after which the child becomes the policy owner. Over the years the Grow-Up^® Plan keeps building cash value, as long as the premiums are paid.

The Gerber Life Guaranteed Life Insurance Plan provides valuable whole life insurance to help cover final expenses, such as medical bills, burial costs and unpaid debt.

Meet 2024 Gerber Baby and Chief Growing Officer Akil "Sonny" McLeod. See why Sonny was crowned this year's Gerber Baby. As the 2024 winner he'll recieve $25,000 and a year's supply of Gerber products, among other prizes. Gerber has officially selected the 2024 Gerber Baby.

The Gerber College Savings Plan is a type of life insurance for adults called “return of premium term life insurance.” The policy matures in 10 to 20 years, typically at the time the child is expected to start college. The payout at maturity is the total of all premiums paid, plus a small amount of interest.

With a 4.1 out of 5 star overall rating, Gerber Life Guaranteed Life Insurance has helped families everywhere secure protection against costly final expenses. In fact, 81% of customers would recommend the policy to their family and friends.