June 1, 2011. Bill Szydlowski
If you’re planning on getting childrens life insurance now or in the near future you may have been wonder what options may be available to you. You may have seen the Gerber Life commercials on TV but before you do that you may want to consider the insurance advice I’m about to present to you first which may end up being a cheaper alternative.
Before you consider a Gerber Life plan consider looking at your own life insurance policy first. A lot of times their are a few different types of riders you can add to your policy that will make this a lot more cost efficient. First look into adding your child as an additional insured rider to your policy. With an additional insured rider you can add your children to your policy and they can stay apart of your policy as long as you wish. This option usually is the cheapest way to go.
The next rider you could add is a CI Rider. This known as the child insured rider. With this rider you it will automatically add your child to the policy from the moment of birth. You will still have to qualify them for the policy once they are born but they will be able to get covered immediately. On the other hand this rider will only usually last till the child turns 18 and they will have to find there own coverage.
Finally, your last option is to consider a seperate policy just for your child. However don’t just consider Gerber Life. Take the time to quote several companies to get a fair comparison of the market. The big benefit to getting them a seperate policy for each child is that it will allow you to still retain ownership of the policy and once your child turn 18 you can give them ownership as financial gift to getting them starting in their adult life.
In the end before you consider on particular option over another take the time to get a quote each of the three option before you buy. Your childs life is priceless, but your life insurance shouldn’t be that way either.
Updated June 1, 2011. Published April 6, 2011. Bill Szydlowski
