![]() If the person who is insured passes away before the payout is due, they’ll send the payout to the beneficiary without waiting for the scheduled payout date.Īt the time the money is paid out, the policy ends. Come up with a premium payment every month that’s rather exorbitant for the value you’ll receive, as you’ll understand in a minute.Īt the end of the agreed-upon term, Gerber Life Insurance Company will send you a check for the payout you specified.And no, even though it would be much, much cheaper to insure the child instead of the parent or grandparent, Gerber won’t let you do that. ![]() Generally, you’ll want to insure whoever will be making the monthly payments, since the policy will pay off if the insured person dies.
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