After 14 years teaching, I saw too many families endure the loss of a child. The GoFundMe campaigns and fundraisers that followed made my wife and me stop and think about how we were protecting our own family.
As an insurance advisor focused on term life insurance and disability insurance, I’m passionate about helping families prepare for the unexpected. Still, I had never considered buying coverage for my children until several physicians I work with asked about it. That curiosity led me to research the Gerber Life Grow-Up Plan, and eventually, to buy it.
Why We Chose the Gerber Life Grow-Up Plan
The Gerber Life Grow-Up Plan offers guaranteed life insurance for children between 14 days and 14 years old. That word “guaranteed” was the reason we bought it. The policy ensures lifelong coverage that can be increased later, even if the child develops health issues.
For our family, the goal wasn’t financial return, it was protecting our children’s insurability. I’m fairly risk tolerant, so I don’t buy insurance for investment value. We already have term life insurance for ourselves and strong savings plans in place. This was simply an affordable way to ensure our kids can get coverage as adults, no matter what health challenges may arise.
If your concern is covering funeral costs, a child rider on your own life policy is usually sufficient. This plan, however, focuses on giving your child the right to buy more coverage in the future without new medical exams.
What It Costs and What You Get
We pay $50 per month, or $600 per year, for a $50,000 policy on our 7-year-old. After 15 years, that’s a total of $9,000 paid in premiums. By that point, the policy’s cash surrender value will be roughly $4,500.
Could we invest the same money elsewhere and earn more? Probably. But that’s not the point. The Grow-Up Plan gives our child lifelong coverage that automatically doubles at age 18, and it allows additional increases up to four times before age 40. A $50,000 policy today could eventually mean $500,000 in future protection.
Gerber Life also offers other products, including college savings and accident coverage, but we skipped the add-ons. This policy was purely about ensuring insurability.
The Real Value for Our Family
When we compared the math, investing $600 a year might produce around $14,000 after 15 years, compared to the $4,500 cash value in this plan. Still, the policy’s guaranteed coverage and lifelong eligibility make that trade-off worthwhile for us.
We didn’t buy it for the death benefit or investment growth. We bought it because someday, our children may have families of their own, and we want them to have the power to protect them.
Bonus idea: Consider asking grandparents to fund the premiums as a meaningful, lasting gift.
Key Takeaways
The Gerber Life Grow-Up Plan isn’t an investment; it’s a safeguard. It provides guaranteed lifetime coverage, builds modest cash value, and ensures your child can always qualify for life insurance later. For families who already have term life and disability coverage, it’s a simple way to add one more layer of long-term protection.
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