The Gerber Life Parenting Blog

What Are the Benefits of the Gerber Life Grow-Up® Plan?

August 26, 2014

Parent Measuring Boy's HeightThree great reasons to get whole life insurance for your child.

Our kids grow up fast, don’t they? They morph from babies to toddlers in the blink of an eye. A few years more and they’re out the door before we can catch them!

Protecting our little ones is an instinctive urge. Not only do we want to provide a safe and loving environment for them, we want to safeguard them financially. One great way to jump-start your child’s financial security is with a Gerber Life Insurance Grow-Up® Plan1.

The Grow-Up® Plan is a whole life insurance policy for your child. In addition to providing a life insurance benefit of up to $50,000, the policy builds cash value over time, creating a nest egg for the future.

So let’s take a closer look at the advantages of the Grow-Up® Plan.


In this tough economy, people are focused on spending wisely. Consider that you can buy a $10,000 policy for a child under 1 year old for as little as $1.50 a week. Talk about affordability and wanting to spend wisely!

The whole life insurance policy’s low childhood premium rates are based on your child’s age when you apply. Life insurance premiums increase with age, so rates for babies and children are particularly easy on the wallet. It follows that obtaining life insurance for your child at the earliest possible age can make financial sense.

Also, consider that the Grow-Up® Plan premium rate that you start with never increases during the life of the policy. That’s right: The premium is locked-in at that low childhood rate.

With the Grow-Up® Plan, you can buy a wide range of coverage for your child, from $5,000 to $50,000. So if your budget is tight, you can buy a smaller whole life insurance policy and add more coverage later on.

Parents, grandparents and permanent legal guardians can purchase a Grow-Up® Plan for a child 14 days to 14 years old.


Another benefit of the Grow-Up® Plan is the nest egg that you can build for your child, since, as a whole life insurance policy, it accumulates cash value over the years, as long as the premiums are paid. The adult remains the policy owner until the child reaches age 21, at which time the child becomes the policy owner. He or she will then have a choice of keeping the policy, taking a loan against the cash value if needed*, or requesting a payout. If a need arises while you are still the policy owner, you can do the same.

An additional benefit of buying this whole life insurance policy for your child is that his or her coverage automatically doubles in value during the year he or she is 18 – with no increase in premium. For example, a $10,000 policy doubles to a $20,000 policy, a $15,000 policy to a $30,000 policy, and so on. Double the insurance coverage at the same low childhood premium rate locked in for the life of the policy. Does it get any better?

When you purchase a Grow-Up® Plan for your child, you are essentially enabling him or her to have affordable life insurance for up to a lifetime. Often a young person can be priced out of having life insurance or unable to obtain it if he or she develops a serious illness or has a job or hobby that an insurance company considers dangerous or risky. However, none of these factors affect coverage for an adult child who has a Gerber Life Grow-Up® Plan – future coverage is guaranteed.


After turning age 21, your child also will have several opportunities to buy additional coverage – up to 10 times the original amount. So, for example, if your child had a $25,000 policy to start, he or she could purchase up to $250,000 in coverage as an adult, at Gerber Life’s standard rate for your child’s age at the time.

There’s also an intangible benefit to the Grow-Up® Plan: knowing that you’re giving your child or grandchild a gift of protection that can last for up to a lifetime. For more information, read about how the Grow-Up® Plan works.

* Policy loan interest rate is 8%
1 Policy Form ICC12-GPP, Policy Form Series GPP-12

Protect Your Child

Protect Your Children while Providing for their Future

With the Gerber Life Grow-Up® Plan, you can provide whole life insurance coverage for your children for just pennies a day.

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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.