If you’re an expectant parent, a new parent, or a parent to a growing child, along with all the hopes and dreams you bear, you also have concerns. Will my child be safe? Will I be able to meet all their needs? What if something happens to me? Asking these questions is a normal and natural part of parenting (if not always a pleasant or easy one). While you can’t ever control absolutely every variable of your child’s growing-up years, there are many ways to alleviate the burden of stress. Learn about one of KCL’s favorite parenting partners, Gerber Life, and how this child-centric company can help ease your fears and support you in securing your child’s future.
1. What is Gerber Life?
Gerber Life is a separately owned affiliate company of Gerber Products. While the Gerber brand is best known for Gerber baby foods, the Gerber Life company has also been offering a variety of life insurance products to families since 1967. Gerber Life offers several products to support families so that they can secure their child’s future.
- Visit Gerber Life online by clicking on the image above:
Gerber Life Insurance Products:
- The Grow-Up® Plan
- The College Plan
- Term Life Plan
- Whole Life
- Guaranteed Life Insurance Plan
- Accident Protection Plan
2. So why do I need to buy life insurance?
The main (really sole) reason to purchase life insurance is to safeguard your family’s immediate and future financial needs should something happen to one or both parents.
Some ways life insurance helps families:
- Replaces lost income (short- or long-term)
- Pays off debt
- Covers final funeral/legal expenses
- Helps pay for a child’s future higher education
- Gives parents financial peace of mind
3. How much life insurance do I need?
The answer to this question will absolutely vary from family to family. The more “no’s” you answer to the list of questions below, the more life insurance your family may need.
Here are some questions to ask before purchasing life insurance:
- How many children am I providing for?
- What are their ages?
- Do I plan to pay for part or all of their college education?
- Does my spouse/partner bring a second income to the family?
- Do I have another life insurance policy through my employer or elsewhere?
- Will my family be free of my unpaid debt if I pass?
- Do I already have an emergency fund established?
- How much income would my family need to replace should I pass?
- Do I have any accessible/liquid assets my family could turn to should I pass?
4. What next steps should I take?
The next step after answering each question is to begin gathering life insurance quotes. You have many plan options (as outlined in #1 here). For instance, you can insure just your child, just yourself, or a combination thereof. Luckily, gathering quotes is easy and free—and you can do everything online.
How to save money using Gerber Life
Gerber Life offers several ways to save. Here are some of the most popular ways.
- Gerber Life’s Grow-Up® Plan includes guaranteed low premiums with doubled benefits at age 18 with no extra charge. This plan also includes a free Child Safety ID Card.
- Gerber Life’s College Plan includes full coverage for a parent plus a guaranteed payout at the time your child leaves for college and a guarantee to hold its full value.
- Many Gerber Life plans build cash value, which you can borrow against if an emergency arises or leave alone to grow over the life of the policy as a valuable financial asset.