What is the Gerber Life Grow-Up^® Plan?

One of the joys of being a child is living “in the moment.” And one of the greatest joys of parenting is watching kids enjoy those moments. Parents are also keeping an eye on the future, so they can give their kids a financial head start as they move forward in life.

What Is the Grow-Up^® Plan?

The Grow-Up^® Plan is a whole life insurance policy for your child or grandchild that protects them now, while also providing for the future. What’s more, it’s very affordable. The rates are based on your child’s age and are guaranteed never to increase during the life of the policy, so the younger your child is when you apply, the lower the rate.

When Should I Buy Life Insurance for My Child?

Purchasing whole life insurance for your child at the earliest age can make good financial sense. For example, with the Grow-Up^® Plan you can buy a $10,000 policy for a healthy child who’s under 1-year-old for about $6.35 a month. You may pay more than that for a cup of java at your local coffee shop!

The Grow-Up^® Plan also lets you buy a wide range of coverage for your child, anywhere from $5,000 to $50,000. Parents, grandparents and permanent legal guardians can apply when children are 14 days to 14 years old. The adult is the policy owner until the child reaches age 21, after which the child becomes the policy owner.

Benefits of the Gerber Life Grow-Up^® Plan

The Gerber Life Grow-Up^® Plan offers more than just life insurance – it’s a way to provide long-term financial protection for your child. With guaranteed coverage that grows over time and premiums that never increase, it’s a smart way to plan ahead. Below are two key benefits that make this plan stand out:

Build Cash Value

Over the years the Grow-Up^® Plan keeps building cash value, as long as the premiums are paid. This means the money can be available if ever there’s a need to borrow against it.*

Insurance Coverage That Doubles

Here’s a really neat part of the Grow-Up^® Plan: Your child’s insurance coverage will double during the year he or she is 18 – with no increase in the premium. For example, a $10,000 life insurance policy would double to $20,000, and a $15,000 life insurance policy would double to a $30,000 policy. Double the insurance coverage at the same low premium that was locked in during childhood – the perfect gift for your child or grandchild!

Is the Grow-Up^® Plan a Good Idea?

In a nutshell, the Gerber Life Grow-Up^® Plan can guarantee your child affordable life insurance for life. Just think, even a young person can be priced out of life insurance if he or she develops a serious illness, chooses a hazardous job or pursues activities that pose danger. None of that would affect coverage for your adult child under a Gerber Life Grow-Up^® Plan.

After turning 21, your child will have a number of opportunities to increase coverage if he or she would like to – up to 10 times the original life insurance amount. So, if your child had a $25,000 policy to start, he or she could buy up to $250,000 in coverage as an adult, at Gerber Life’s standard rate for your child’s age at the time. That’s the case even if health, occupation or lifestyle precludes your child from obtaining coverage from another insurance company.

With so many advantages, it seems the Gerber Life Grow-Up^® Plan could really grow on you! Get a free quote today to see just how easy it can be to give your child the Gerber Life Grow-Up^® Plan.

If you’d like more information about Grow-Up^® Plan, call us at 1-800-704-3331. We’ll be happy to answer your questions and help you find the right coverage to fit your needs.

*Policy loan interest rate is up to 8%. Loans may impact cash value and death benefit.