The Gerber Grow-Up Plan is a whole life insurance policy marketed to new parents for their children. In most situations, children do not need life insurance but can benefit from the policy once they are older. Because children are so young, premiums on these policies tend to be quite affordable.

All for as little as pennies a day! The Grow-Up® Plan's coverage amount doubles when your child is 18 years of age – so a $25,000 policy becomes $50,000 – at no extra cost. And it also guarantees your child the option to purchase additional life insurance coverage as an adult, regardless of future health or occupation.

Yes. You can borrow from the cash value, as long as premiums are paid, by taking a policy loan. Policy loans are subject to 8% interest rate and may impact cash value and death benefit. You can also surrender the policy and receive the available cash value.

Locked-in premium rate that never goes up during your lifetime. In addition to the reliable coverage that Gerber Life provides, you can rest assured that your policy's premium will never change for any reason unless you stop paying the premiums or decide to change the coverage amount.

Yes. You can borrow from the cash value, as long as premiums are paid, by taking a policy loan. Policy loans are subject to 8% interest rate and may impact cash value and death benefit. You can also surrender the policy and receive the available cash value.

The Gerber Life Insurance College Plan is an individual endowment life insurance policy with an adult life insurance benefit that provides a guaranteed* payout of $10,000 up to $150,000 when it matures in 10 to 20 years.

You can cash out a life insurance policy. How much money you get for it will depend on the amount of cash value held in it. If you have, say $10,000 of accumulated cash value, you would be entitled to withdraw up to all of that amount (less any surrender fees). At that point, however, your policy would be terminated.

There are several ways you can take out cash from your life insurance policy, including:

1. Borrow from your policy.
2. Withdraw funds from your policy.
3. Surrender your policy.
4. Pay policy premiums using your cash value.
5. Pro: Receive quick funds.
6. Pro: Low interest rates on loans.
7. Con: Reduce or eliminate your cash value.

Can you cash out a life insurance policy before death? If you have a permanent life insurance policy, then yes, you can take cash out before your death. There are three main ways to do this. First, you can take out a loan against your policy (repaying it is optional).

The Gerber Life Grow-Up® Plan is a children's whole life policy with a cash value component that could come in handy when your child becomes the policy owner at age 21.

After you hold the policy for a few years, the cash value of your permanent life insurance will often rise as it accrues interest or grows through investment. (That said, it might be five years or more before the value becomes substantial enough to cover a major loan.)

How Cash Value Works. After the initial policy years, each time that you pay the monthly premium for your whole life policy, the insurance company - such as Gerber Life - sets aside a small amount, which grows over time into the policy's “cash value.” The longer you own the policy, the larger the cash value.