Gerber grow up plan canada9/14/2023 Now the surviving spouse has to pay for the house, car, food, clothing, and other necessities on their own, and find a way to continue saving for their children's education. Grow-Up Plan Children Under 14 Accident Protection Adults 18-69 Whole Life Adults 18-70 Guaranteed Life Seniors 50+ A whole life insurance policy for children that helps protect and provide for the future of your child. The spouse dies in a car accident during a severe thunderstorm, and the family income is cut in half. For example, two partners each earn $50,000 per year and have two young children they hope to send to college. The primary purpose of life insurance is to protect the insured's family and dependents from financial calamity if they die prematurely and their income is cut off. Key benefits of the plan: For children aged 14 days to 12 years. It is an ideal plan for parents who want to maintain their child's insurability throughout their lifetime. Gerber's death benefit's maximum amount is $100,000. The Gerber Life Grow-Up Plan is a whole life policy designed for families who wish to insure their children at affordable rates. The standard whole life insurance option provides 50,000 to 300,000 in coverage and does not require a medical exam to qualify.The purchase of mutual funds may be a better choice than whole life insurance for saving towards a child's future financial needs. Because children are so young, premiums on these policies tend to be quite affordable. The Grow-Up Plan from Gerber Life Insurance is a whole life insurance policy that protects your kids and can provide a savings opportunity for them as well.
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