Baby Insurance as a Gift

Baby insurance as a giftIs it ever too early to start shopping around for life insurance for your baby? Baby life insurance is more than just coverage in case something terrible happens to your baby or child. Baby life insurance in the form of a whole life insurance policy like the Gerber Life Grow-Up Plan actually creates a solid nest egg for your child.

The baby life insurance policy coverage doubles during the year your child is 18, and provides premium rates at up to 60% less than plans purchased as an adult. When your child reaches age 21, he or she has the option to:

  • Cash out the policy to reinvest or pay for adult expenses
  • Extend the policy at lower rates than they would get if they were to apply for a new life insurance policy as an adult

The Gerber Life Grow-Up Plan cannot be canceled by the insurer for any reason, and your child will not be turned down for additional coverage through the plan, as long as premiums are paid.
Baby Insurance: Another “New Baby” Expense?
We know that having a baby has a lot of expenses associated with it. You need all that baby gear, clothing, and diapers. Child birth classes. Maternity clothes for you. Then there are the OB or midwife bills or insurance co-pays. You’ll also want to consider your own life insurance policy and possibly increase your coverage to accommodate your new family member.

But people are always looking for unique baby shower gifts. Grow-Up can only be purchased by a parent or grandparent, so If a grandparent is looking for a unique baby gift (especially if this is your second child and you have all the requisite “baby stuff” you need), why not suggest they provide baby insurance for the little one on the way? You can also ask other friends or family to contribute with a donation to baby insurance premiums.

Because, let’s face it, a baby insurance policy will have a lot more value in the future than another pink layette set.

Comments are off for this post
Please note: Articles and other information included on this website are intended for the general interest of our readers, and are not intended to express the positions or views of Gerber Life or to provide or constitute, legal, financial, health or other advice. Gerber Life makes no claims, representations, or warranties as to the accuracy, completeness, or appropriateness of this general interest information for your particular circumstances. If you need legal, financial, health or other services, you should contact a duly licensed professional.