Gerber Life banks on two things to sell their insurance policies – a well-known trusted name and a cute baby.Life insurance and college savings products sold by a company that manufactures baby food may sound disconnected. However, Gerber’s Grow-Up Plan – their best known product – is a popular choice for parents who have already gained trust in the brand. The Grow-Up ® Plan is a whole life insurance policy for a child that builds cash value.You’re the policy owner until your child reaches age 21. At that time, your child becomes the policy owner and is.
In Canada, Gerber Life offers three differentproducts which provide a wide range of protection. The descriptions below will help you decide which plan is the bestchoice for you or your loved ones.
The GROW-UP ® PlanAt Gerber Life, we understand you want to give your child every advantage possible. The GROW-UP Plan is a simpleand budget-minded way to start. For less than 20¢ a day, you can give your child a lifetimeof life insurance protection worth at least $5,000. Your thoughtfulness today helps ensureyour child will be better equipped for adult responsibilities tomorrow.10-Year TermThe Gerber Life 10-Year Term plan gives adults ages 18 to 59 a budget-minded way to help ensure their families cancover basic expenses if they are not there to provide for them. With policies ranging from $10,000 to $50,000 cash benefit,it offers more peace of mind knowing that dependent family members won't be financially stranded in their time of need.Guaranteed Life Burial ExpenseNo one wants to be a financial burden on those they love.
But, unless you make preparations, your family could befaced with an unexpected funeral bill of more than $7,000. That’s why Gerber Life developed the Guaranteed LifeBurial Expense plan. It makes it easy for you to obtain life insurance to cover your burial expenses—and more.Source: National Funeral Director's Association, 2004.