LAS VEGAS ( FOX5 ) — Gerber Life sold nearly two million new “Grow Up Plan” policies last year, according to Bankrate. Many parents and grandparents are buying the policy as a way to put aside money for their kids’ college funds. But some did not understand how the policies were supposed to work.

Eighteen-year-old Las Vegas teen Selma Singer loves Japanese culture and has been taking Japanese for four years in school. She planned to immerse herself in that culture this fall at the University of Tokyo.

Her mom, Karina, tells FOX5 she signed up for the “Grow Up Plan” in 2009 as a way to save up for Selma’s tuition. She said she saw a TV commercial that promised her investment would double when Selma turned 18.

“You thought you would have this safety net for your daughter when she turns

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