Endowment life insurance is often put under fire by financial experts because the Tax Reform Act of 1984 took away many of the tax advantages of this type of life insurance plan. However, in many cases, an endowment insurance policy is a wise financial choice for saving for the future—especially if it offers life insurance coverage at full endowment value even before its maturity date, like the Gerber Life College Plan.
An endowment insurance policy differs from a whole life insurance policy in one very significant way—it matures and reaches endowment value faster than a whole life insurance policy. That’s why an endowment insurance policy is a good choice for saving for college. And you can get guaranteed coverage for as little as a dollar a day.
With the Gerber Life College Plan, you can set the maturity date to coincide with your child’s first year of college. You may also consider four separate policies, so you can cash in one per year and spread out the costs.
With college costs rising at an average rate of 4-6% per year, isn’t it time you started saving for your child’s future?