Grow up plan gerber life8/30/2023 ![]() ![]() Keep in mind this is a loan and reduces the policy's coverage amount until that debt is paid. You may be allowed to borrow against your Grow-Up Plan during a qualifying financial emergency. The cash value of your Gerber Life policy never expires - and neither does the policy. ![]() If the child does not want to maintain coverage or want to shop around for other life insurance companies, the Gerber Life Grow-Up Plan cash out option can be used when they're old enough.Ĭash value is earned with each payment made to the policy, and it is a little bit like a savings account as it is money that is set aside and builds value. Neither your employment status nor your medical history will impact your ability to purchase this supplemental coverage. The child may also purchase additional coverage through the Gerber Life Insurance Company. When the kid turns 21, coverage doubles, yet, premiums stay the same. At this time, they become the policyholder and are guaranteed protection, as long as they can keep up with the monthly costs. The person who purchases the policy for the child will be the policyholder of the whole life insurance policy until the child reaches 21. Gerber Life Grow-up Plan is a whole life insurance policy that grows with your kid - as long as the premiums are paid. Gerber Life Grow-up Plan Life Insurance: Rates, Discounts & Coverages
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