When we opened savings accounts for our newborns, the local bank offered a "start up" deposit of $5! I know of other banks in the area that offered promotional items for new baby's savings account - caps, bibs, welcome packs, etc.

Has anyone else opened a savings account for baby and gotten a great promotion?

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"Fostering Excellence in Intellect & Character"

Ooh,
no great deals here! I wish we would have!!
COme to think of it, now I'm a little sad!

If any do that around here, they don't promote it and I've never asked if they do. Can't beat getting extra money for opening an account!

I've been meaning to open a savings account for DD but haven't gotten around to doing it. I think maybe I will now!

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Does anyone have life insurance on their children? My BIL is a financial adviser and the life insurance I can get through him is like $45/year. Gerber life insurance is like $13/year ($5,000 policy).

Does anyone have the gerber life insurance? Do you like it?

What is a good amount of a policy to get? $5,000? $10,000? more?

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As a financial advisor, what does your BIL advise as far as life insurance for children? Does he personally think it's a good or bad idea?

He thinks its a good idea for kids especially since the term life is so cheap. He just told me that what his company offered seemed like a high annual cost so he said that I could look elsewere.

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RBC in Canada (Royal Bank of Canada) offers a Leo account for kids ... works better with the 4-8 age range to start.

It includes:
a fee free account
a tour of the bank including the vault
$5 in loonies (our $1 coin) in a safety deposit box as part of the tour
promotional events and kids newsletters throughout the year

They also gave the kids a collector set holder for collecting Olympic coins that included a coin.

On top of that they treat kids like royalty ... it's very sweet. When we take the kids in once a month to deposit their allowance (they get it in check form) the bank employees make a huge deal out of it and treat them like VIPs.

I've been very impressed.

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I have one for our child that covers $10000 for the death of a child and it is maybe $1-$2 per month through work. I don't think we were given the $5000 option. I think it would cover multiple children for the same cost. I got when I signed me and DH up for life insurance since I knew if something happened to DD, we wouldn't be able to afford everything that comes with the death of a child.

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Mom to Kaylee (10/2006)
Waiting on our second bundle of joy to arrive January 2009!

We opened M an ING account which got $25 dollars for her and $10 for us (for "referring" her).

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It's not what you make; it's what you spend.