The Gerber Life College Plan1 is an endowment life insurance policy that provides a guaranteed payout* at maturity that can be used for college expenses or for anything else, without penalty. You choose the time frame and the payment amount, so you’ll know exactly how much money will be available upon maturity.
How it works
The College Plan provides stable growth for your money, culminating your pre-determined payout* that can range from $10,000 to $150,000. To reach your goal youll pay the same monthly premium over a set period of years. Should you die before the College Plan reaches maturity, your child (as beneficiary) will receive a payout* equal to the full amount you had intended.
How easy is it to start a Gerber Life College Plan for your child or grandchild? Its a snap, really. You can apply online at gerberlife.com, or call a Customer Service representative at 866-503-4487 and apply over the phone, or ask the representative to mail you an application, for you to fill out and return.
The steps to apply
Whether you apply for a Gerber Life College Plan electronically, by phone or by mail, here are the three easy steps to start the process:
- Choose a fixed monthly payment amount (your premium) that suits your budget.
- Determine when you will need the money, between 10 and 20 years from now, depending on when your child will be ready for college.
- Decide how much money you would like to have in the College Plan upon maturity, for a payout* between $10,000 and $150,000.
The Gerber Life Insurance Company offers the College Plan as a secure and affordable way to plan for college that will never lose value due to economic downturns.
Another benefit is that if your child or grandchild decides not to pursue a college education, that’s not a problem. The money can be used for any purpose at all, not just college, and without penalty or strings attached.
Its as easy as one, two, three to help launch your child’s future. Ready to get started?
1 Policy Form ICC09-PIE, Policy Form Series PIE-09