![]() ![]() In a society where we are relentlessly prodded to view every aspect of our lives in financial terms, where college is seen as a financial and not intellectual investment, putting a dollar value on a life is a way of demonstrating love. Description: Guaranteed Life Insurance Plan builds cash value. Even if analysts estimate that it now only makes up about 1 percent of the overall life insurance market, it’s all but made for our financialized age. Personal financial literacy isn’t high in the best of circumstances, and many parents of infants or toddlers-the group the Grow-Up Plan is pitched at-probably aren’t familiar with government-sponsored, tax-advantaged college savings plans.īut I suspect children’s life insurance continues to appeal for another reason. Of course, it’s likely that today’s buyers of children’s life insurance don’t realize they’re putting money in the financial equivalent of an appendix. Instead, they talked about children’s life insurance as a way of investing in their future, a line that continues to this day, even as better options-like 529s-are now available. ![]() By the 1930s, companies barely mentioned death. Whereas if something happened to you, also God forbid, they couldn’t get your buried without insurance money, now could they?īut as the children’s mortality rate fell over the course of the 20 th century, the insurance companies’ pitches changed. If anything happens to one of the children, God forbid, you could manage to get them buried. According to news reports, the suspected motives might include the hopes of collecting on two life insurance policies totaling $27,000 on the child’s life. Prosecutors say he killed his 22-month-old son by deliberately leaving him strapped in a car seat on a hot day. There’s another such case in Georgia, where dad Justin Ross Harris is also awaiting trial on murder charges. Prosecutors say Rams’ father drowned him in an attempt to collect on $560,000 in life insurance policies on the child issued by a number of companies, including MassMutual, Globe Life and Accident Insurance Company, and, yes, Gerber. There’s the sad story of Maryland toddler Prince Rams, whose father is set to go on trial on charges of murder. Just like adult life insurance, the children’s version occasionally figures in tabloid-like murders. You almost certainly don’t need the Gerber Life Grow-Up Plan as an in to obtain insurance later.Īnd then there’s the occasional yuck factor. Second, there are insurance companies that will issue even middle-aged people policies without requiring a medical exam. ![]() First, the vast majority of people in their early 20s are healthy enough to obtain life insurance. Kids also aren’t likely to need another benefit that Gerber pitches as an advantage-the ability to automatically renew the policy for up to $100,000 at the age of 21, no matter the state of their health. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |