What’s most important to you as a parent – your family’s day-to-day financial security or their financial security 10 or 20 years from now?
We believe that you shouldn’t have to choose just one priority. That’s why we designed the Gerber Life College Plan, an endowment policy that can protect your family today and provide for them tomorrow.
The Gerber Life College Plan is an individual endowment policy with an adult life insurance benefit that provides a guaranteed payout of $10,000 up to $150,000 when it matures in 10 to 20 years. You select the length of the policy to coincide with when you’ll need the money for college expenses, and you also select the payout amount.
For example, if your child is two years old, you may decide to select a policy that matures in 16 years when your child is 18 and starting college.
You can use our online quote tool and choose how much you can afford to set aside each month to determine the payout you’ll receive at maturity. For example, for about $65 a month, you could have a College Plan that pays out $15,000 in 16 years.*
During the policy’s term, the College Plan would provide adult life insurance coverage for you. If the unthinkable were to happen to you before the policy reaches maturity, the full benefit amount would be paid to your child or other beneficiary.
The policy grows in value over time and the payout amount is guaranteed as long as premium are paid. No need to worry about stock market ups and downs.
Unlike traditional college saving or investment plans, there are no rules about how to use the payout money from the Gerber Life College Plan.
In view of the rising cost of higher education, many families choose to use the payout money for college expenses that are not covered by scholarships, grants, loans, or work-study programs. Because you’ll know exactly how much money you’ll receive, you can help your child to make smart choices while in college and then to come out of college with less debt and greater financial independence.
If college isn’t the right path for your child, he or she can use the money for other goals, such as buying a car or starting a business.
Life is unpredictable, which is why so College Plan.
The sooner you apply, the more time that you will have to reach your desired payout amount, and therefore the smaller the amount of your monthly premium payment.
Since you’re a busy parent, we make it easy for you to apply online in minutes. If you need help in finding a policy that fits your budget and your family’s needs, call us at 1‑866‑503‑4487 to speak with a helpful Gerber Life representative today.
*Assumes a 30 year-old mom