Chuck Jaffe’s Stupid Investment of the Week takes on Gerber Life Insurance “The Gerber Grow-Up Plan.” I got a brochure for them yesterday. Threw it away, but then seeing this made it even more ironic.
Want it anyway? Lol. Put the money in an education savings fund. Or add a rider to your own policy. Or put the money in an ING savings account-you’ll make more money.
As Jaffe said, there’s a kid born every minute whose parents are suckers.
(note: There’s always a possibility that such policies might be useful. Insurance, after all, transfers risk. But the odds of your kid becoming uninsurable as an adult are low and this policy doesn’t help much with that anyway. If you’re worried about funeral costs, put a rider for them on your own term policy-just enough to cover it.)