So, having seen those annoying Gerber Grow Up plan ads forever and being in the process of evaluating adoption I was curious about the cost/value and did a little research.
So far the general consensus is it's pointless crap, but I think the most brutal evaluation of it was this one;
Although if you're adopting this might be less true, since the cost of adoption is so insanely high that if you lose your child you can't just pop another out next week or pick one up at the corner store. Not that I advocate immediately replacing a child to 'get over it', cause that's almost as callous as the quote.
One thing that does seem to be certain though; An independent plan such as the one offered by my employer would be more practical than the Gerber one, both from a cost perspective and potential compensation for tragedy.