Need feedback on Gerber Life Insurance policies for kids.?

I have a 4mo old and i recieved a application from Gerber Life. I'm wanting to know if this policy is a good idea or not if you are familiar with it. It is a whole life insurance which i've always have heard to avoid...and that term insurance is better. I will have no idea on the premium until i apply but they say in most cases is 1 dollar or less a week...which they calculate on a 6mo or 1yr basis i'm assuming. It's a 5,000 dollar policy (or you can opt for more up to 30k i believe.) and your policy amount doubles when your child reaches 21 and anytime after 20 you can "cash in" your money (so to speak) and get all that you have paid in premium's back and the child can use that as a "nest egg" of sorts. So all opinions are appreciated! for all of you sick loons out there, i wasn't looking into this as a life insurance policy, more as a way for her to have some money saved up when shes grown, you sick freaks. gimmie a break, how stupid can you really be.

2 years ago - 0 answers