Gerber Grow Up Plan Vs. Other Whole Life Insurence Policies

[haynesa]

My client is looking to put her children on a whole life insurance plan. Which one do you suggest? We were originally looking at the Gerber Grow Up Plan but were curious as to which one would really be the best. Any advice?

 

[pcbinsurance]

Gerber Grow Up is a good plan but doesn't pay much at all.

 

[TwiLight]

MOO/United of Omaha..... Children's Whole Life (CWL).... Pays more FYC than Gerber.

CWL Issue ages 0-25, $5k-30k

CWL is about 30% lower rate than Gerber Grow Up (ages 0-14). You are paying for the double up on Gerber at age 18.

CWL has 5 Guaranteed Future purchase Dates.

 

[WinoBlues]

MOO/United of Omaha..... Children's Whole Life (CWL).... Pays more FYC than Gerber.

CWL Issue ages 0-25, $5k-30k

CWL is about 30% lower rate than Gerber Grow Up (ages 0-14). You are paying for the double up on Gerber at age 18.

CWL has 5 Guaranteed Future purchase Dates.

While I have only written a handful of these after getting the idea from Ben Boman. I have several times that in other business. Not quite a lost leader since I am getting paid to write it but the policy threads have been good.

 

[pcbinsurance]

"CWL is about 30% lower rate than Gerber Grow Up (ages 0-14). You are paying for the double up on Gerber at age 18."
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Are you saying the double up feature is not worth the higher price?

 

[TwiLight]

"CWL is about 30% lower rate than Gerber Grow Up (ages 0-14). You are paying for the double up on Gerber at age 18."
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Are you saying the double up feature is not worth the higher price?

Not at all....Touchy today??? I am just pointing out that you are just paying for it.....

A family with 3-4 kids may appreciate the lower pricing with CWL (0-14) than with Gerber (Limited issue age to 14). Also, CWL does not need the adult children (16-25) to sign the application as insured.

I mostly sell CTR with UL/WL as the best Value....

It is hard to Knock Either CWL or GrowUp.... Both have excellent name recognition. I am just pointing out the differences in the plans..

 

[WinoBlues]

Not at all....Touchy today??? I am just pointing out that you are just paying for it.....

A family with 3-4 kids may appreciate the lower pricing with CWL (0-14) than with Gerber (Limited issue age to 14). Also, CWL does not need the adult children (16-25) to sign the application as insured.

I mostly sell CTR with UL/WL as the best Value....

It is hard to Knock Either CWL or GrowUp.... Both have excellent name recognition. I am just pointing out the differences in the plans..

I agree and a pretty easy transition into family plans once you get to three children.

 

[peteybear]

I think I could sell 10 moo' childrens policys a week but with no back end after the first yr it sucks.If it paid 5-8% renewals a yr from 2-10 i'd sell $50-$100k a yr premium as they'll stay on the books a long time.

 

[pcbinsurance]

"Not at all....Touchy today??? I am just pointing out that you are just paying for it....."
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Not touchy...sorry if my typed words gave you that feeling. It was an honest question. I'm getting a UoO contract so all answers are appreciated.

 

[haynesa]

Would you suggest Universal life insurance over Whole Life Insurance?