Does anyone have insurance through Gerber Life Insurance?

Question

I read over the papers and it says that my child would have a 15k insurance policy or when she turns 21 she can cash it out for 30k. Does anyone have any experience with them and know if this is legit??

Answer 1

Gerber Life is a terrible deal.  If you want insurance on your child, buy it from a reputable insurer.

Answer 2

Insurance is not a savings program and children don't need life insurance they have no one depending upon their income.  Pass it's not a good deal.  The only reason to have any insurance is to cover what you can not afford to lose.

Answer 3

No...you read it wrong.  They can't cash out for $30k.  Their $15,000 policy turns into a $30,000 policy.  The only way someone would get $30,000 is if they died at age 21 (or greater).

The simple math....there's 252 months between 0 and age 21.  Even at $10/month that's only $2520 and that's not going to turn into $30,000....although $100/month probably would.

So, it's legit, but the death benefit...not cash value...goes to $30k.