About Gerber Life Insurance, Please Help!

Sarah - posted on 12/26/2010 ( 3 moms have responded )

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Okay, So My Son Has Had Gerber Life Insurance For Almost A Year. They Say That You Can Borrow From The Cash Value Of The Policy And Pay It Back With 8% Interest. We May Need To Borrow From It For Now, But I Honestly Don't Know If It's Worth It Or Not Because The Policy Is Only 10,000 At The Moment. Please Help?

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Michelle - posted on 05/08/2011

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Here's the thing, if that money is "your son's" why should you have to borrow from it? The experts state that you should not but whole life insurance as it is not a good investment. If you want more info about this, I can help you out.

Cindy - posted on 12/26/2010

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Everyone needs help.. exceptionally now!! Well when my kids were younger you couldn't afford that or any insurance! ! I'm not kidding! ! So if I were you I would leave it there. .. @8% and at the time to put it back its going to cost more. Personally I would leave it alone your baby is lucky to have it: )

Amanda - posted on 12/26/2010

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8% is pretty high, isnt there family you can get a loan from? Or a bank? With interest rates so low, why not remortgage? (if you have one).

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