The Gerber Life College Plan
I think my husband and I have a solid grasp on budgeting, spending, saving, and paying off debt. The one place where we could use some improvement is investments. Mostly short and mid-term investments, or as we sometimes like to think of them, income-producing investments. I think we are doing fine with retirement, but we also need some help in the college savings department. We know the timeline is over 8, 10 & 13 years (goodness, it is possible that my son will be heading off to college in "only" 8 years?!).
My husband and I opened up college savings accounts for each of our children as soon as they were born. We were regularly contributing to these accounts for a number of years. However, in the last couple of years, we have had to cease all contributions simply because of the economy. This really worries us. Especially since our little one does not have nearly as much money in her college saving fund as her siblings do.
I recently heard of a college savings plan that quite possibly will be our next route and perfect for this one income family with three children all in private school, The Gerber Life College Plan.
Just about $1 a day can put your child on the path toward a college education!
The Gerber Life College Plan can help you make college dreams come true.
- Monthly payments—choose the premium that fits your budget, starting at just about $1 a day.
- Guaranteed payment of full benefit at maturity, as long as premiums are paid—no need to worry about interest rates or market volatility.
- Life insurance protection—guarantees your child will receive the full benefit amount if something were to happen to you before the maturity date.
What is the Gerber Life College Plan?
The Gerber Life College Plan is an endowment life insurance policy. You decide how much you can afford to set aside each month, and then you receive a guaranteed benefit payment of $10,000 to $150,000 when it's time for your child to enter college in 10 to 20 years.
Benefits of the Gerber Life College Plan:
- You select the amount of money you want and decide when you want it. Gerber Life will tell you how much you need to contribute to the policy each year to reach your goal. For example, if you want to have $25,000 in 18 years, you would need to contribute $83.33 per month to the Gerber Life College Plan. (This example assumes the insured is a female in good health between the ages of 18 and 25.)
- In addition, the endowment provides life insurance. If the insured person were to die before maturity, the policy would immediately mature and pay its full face amount to the beneficiary. For example, if Jane Doe were to buy a $25,000 Gerber Life College Plan that matures in 18 years when she was 25 years old, her monthly premium would be $83.33. If she were to die after 10 years, Gerber Life would immediately pay the full amount of the policy to her beneficiary.
Go visit The Gerber Life College Plan and see what they can offer your family. The Q&A page is very informative!
This is a Sponsored post written by me on behalf of The Gerber Life College Plan. All opinions are 100% mine. Disclosure: I have not received any compensation for this post. As always, the opinions expressed are mine. Click here for details.