What is the Gerber College Savings Plan?
With the wide variety of investment options out there for college, the one that gets the least amount of attention is the Gerber college savings plan. Gerber plans are great for a wide variety of reasons.
But first, how do they work? Well, Gerber college savings plans have been around for a while and at the core are hybrids between life insurance and secured growth of college savings.
They provide a stable way to save for college and guarantee payment amounts when your child is old enough to enter college. A Gerber college savings plan does not go up and down like other investment vehicles.
While this is a benefit, you may not get the highest rate of return on your investments.
Gerber Life Insurance and How it Works
Not only does Gerber offer college savings but it is coupled with a life insurance policy. But how does this really work? In simple terms, your Gerber insurance policy is guaranteed for growth and will provide you with a comprehensive life insurance policy. It’s up to you how much you want to invest and you will be paid out between $10,000 and $150,000 by the time your child starts college. Stop worrying about the economic ups and downs; get a Gerber life insurance policy and start saving for your children’s college career as well!
Added Flexibility with a Gerber college savings plan
Another cool feature is the added flexibility of a Gerber college savings plan. Not only can you decide to take out your money but you can spend the cash value of your investment on anything you want, not just college expenses. Unlike 529 plans, you have the freedom to spend on what you want. Depending on your personal situation, this could be a great benefit!
Gerber college savings plan recap
So, although not very popular, Gerber college savings plans can be a great addition to anyone’s financial portfolio for college savings. Here’s a recap of what you’ve learned about Gerber college savings plans:
- Gerber plans offer fixed as well as guaranteed payments
- Growth stays stable over the life of the investment
- A good way to couple life insurance and college savings
- No stock market risk
- Added flexibility to use invested money for any type of expenses, not just college expenses
Will you be opening a Gerber college savings plan?
As you can see, the Gerber college savings plans are a wonderful addition to your financial future and can provide both security and financial assistance to your children by the time they hit college. Will you be opening a Gerber college savings plan today?