I am assuming "Term" insurance (I would not waste my money on whole life). I am also assuming a low policy face value; ten to twenty thousand. Basically what is called a "burial policy." It is my hope that you never have to collect on the insurance.<br />
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If you or your spouse are employed, you may have a small dependent's life insurance plan through your work. Check that first since it is free. If you or your spouse have some life insurance, you can frequently add some coverage for the child at minimal cost.<br />
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If it was my money, no, I would not go with Gerber Life / College Plan. I would buy a $10K or $20K TERM insurance plan from the same people I buy my car and home insurance through (if they have it.) I would then put whatever I was thinking about putting into Gerber, into a Community Credit Union savings, CDs, T-Bills, Municipal Bonds, or some other low risk investment. <br />
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Many banks and credit unions have specific college savings accounts. If you set one up, you may be able to let grandparents and other close relatives know about the account and see if they are interested in helping. Possibly make it an annual birthday ritual for the relatives to add to the account. (Of course, you would only ask relatives with grown children, because of the reciprocity thing.)<br />
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A word on Life Insurance. Exclusive of tax planning for those with large estates, I believe that once an estate is able to bear the costs that the insurance is intended to cover, the insurance should be dropped and the money put into investments -- unless there is a high likelihood that medical issues will make collection on the insurance likely. (Just my opinion. Most people disagree.) <br />
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One other consideration. If you hit financial hard times in the next eighteen years and can't pay on the Gerber plans, what happens to the money? The insurance is gone, of course, but what about the College fund? Do you get nothing? A small percentage? Everything paid in plus interest? Ask.<br />
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Good luck.

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I am a stay at home mom and im not married. But the father and i are dating and have an apartment together. He works full time. i gave our daughter his last name. my parents never saved any money for me or even taught me anything about real life. they dont even know how to spend money and they borrow money from us sometimes. so i need all the help i can get on how to research this stuff wisely.

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You are way ahead of most people your age, just by the fact that you are smart enough to be asking good questions about finance and to be concerned about these issues. First stop is the library. Read multiple books on how to manage personal finance. Get multiple opinions. Set up a financial budget with plans and goals. Knowledge is power. Knowledge will help you avoid the financial mistakes that 90% of the population make.
As you read, keep in mind that everyone who wrote a book on finance had an agenda. Are they trying to sell you something? Seek out non-profits that help people learn to manage their finances. They are the least biased and usually do a good job of covering all the basics.
Back to the insurance. Since your daughter has his last name, your marital status shouldn't matter regarding medical insurance or life insurance, if his employer provides them. Have him ask. All they can do is say, "No."
Keep being smart, and good luck.

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haha no

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