Since 1967, Gerber Life Insurance Company has provided quality life insurance, especially for young families on a limited budget. Give your children the protection they deserve: the Grow-Up® Plan from Gerber Life Insurance. $5,000 to $50,000 of whole life insurance protection for low childhood premiums that never increase. Coverage automatically doubles at the age of 18 with no increase in premiums.
The Grow-Up Plan protects your child or grandchild while also starting a nest egg he or she can borrow from later on. Guaranteed future insurability. Your child or grandchild will have several opportunities to buy more coverage as an adult even if they cannot get insurance from other companies. Parents, grandparents and permanent legal guardians may apply when children are 14 days to 14 years old.
This is a really neat thing to get your children setup with because the value doubles when they turn 18 and they can withdraw all the premiums paid up to that point at any time like a savings account. I know a lot of grandparents who have gotten this for their grandchildren as a way to help them save up some money or have the option of keeping the insurance as they get older.