Gerber Life Insurance: Marketplace Options For Families

Gerber Life Insurance is a well-known provider of life insurance, offering a range of policies for all ages. The company has been in operation since 1967 and is an offshoot of the Gerber baby food brand. Gerber's life insurance policies include term life insurance, whole life insurance, guaranteed life insurance, and accident protection insurance. The company also offers a unique range of plans for children and young adults, including the Grow-Up Plan and the College Plan. While Gerber has a strong reputation and is financially stable, it has received a higher number of complaints than expected and its term life coverage amounts are lower than those offered by competitors.

Gerber Life Insurance offers a range of policies for children and teens

The Young Adult Plan is similar to the Grow-Up Plan but is designed for teens aged 15 to 17. It offers the same coverage amount, which also doubles when the child turns 18, and the premium remains fixed. This plan is only available over the phone.

Both plans offer lifelong coverage and cash value growth. At age 21, the child becomes the policyholder and can choose to continue the policy and add additional coverage or receive the accumulated cash value. The cash value can be borrowed against at an 8% interest rate.

Gerber Life Insurance also offers accident protection insurance, which is not life insurance but an accidental death and dismemberment policy. It pays out in the case of accidental death or disabling injuries, helping with medical expenses and lost wages. Coverage amounts range from $50,000 to $250,000, and no medical exam or health questionnaire is required for those between the ages of 18 and 69.

Overall, Gerber Life Insurance provides a range of options for children and teens, offering financial security and protection for families.

Gerber Life Insurance has a high number of customer complaints

Gerber Life Insurance has a slightly higher number of customer complaints than similar companies, according to the NAIC. The company's parent company, Western and Southern, has an A+ rating from the BBB but has received mostly negative customer feedback.

A common issue in the customer complaints is Gerber's handling of payments and billing. Some customers have reported issues with Gerber taking unauthorised loans or multiple payments, resulting in overdraft charges. Others have expressed frustration with the company's slow response or lack of resolution to their queries. There are also complaints about Gerber's cancellation process, with some customers reporting that they had to submit multiple requests and follow-ups before receiving a response or the requested refund.

In one case, a customer filed a claim on their deceased brother's life insurance policy, but the person handling the claim allegedly ignored their calls and repeatedly stated that they were waiting on information from doctors to complete the review. The claim remained unresolved for over a year. Another customer reported issues with Gerber's Accident Protection Insurance, stating that they were charged multiple times in one month for a single policy, resulting in overdraft fees.

It is important to note that while these complaints highlight areas of concern, they may not be representative of all customers' experiences with Gerber Life Insurance. The company has also received positive reviews, with many customers recommending their services.

Gerber Life Insurance offers guaranteed acceptance policies for people over 50

The Gerber guaranteed life insurance plan is available to individuals aged 50 to 80 (50 to 75 in New York). It offers guaranteed acceptance, regardless of health history, and does not require a medical exam or lengthy health questionnaire. This makes the application process simple and hassle-free.

The coverage amount ranges from $5,000 to $25,000, with the option to borrow against the policy's cash value, which accumulates over time. The policy includes a graded death benefit, meaning that if the insured passes away from natural causes during the first two years of the policy, the beneficiary will receive 110% of the earned premiums. After the initial two years, the full death benefit amount is paid out.

Gerber's guaranteed life insurance plan provides peace of mind and helps protect your family from the financial burden of final expenses, such as medical bills, burial costs, and unpaid debt. The premiums remain stable, making it a predictable expense when budgeting for the future.

With a strong reputation and decades of experience, Gerber Life Insurance is a reliable choice for those seeking guaranteed acceptance policies, offering a financial safety net for individuals over 50.

Gerber Life Insurance offers term life insurance for people between the ages of 18 and 70

The application process for Gerber's term life insurance is simple and can be completed online or over the phone. Most applicants will receive a decision within minutes. In most cases, a medical exam is not required, but individuals aged 51 or older applying for more than $100,000 in coverage may need to undergo an exam.

Gerber's term life insurance is a popular choice for parents as it offers the largest amount of coverage at a low cost. It provides financial protection for families, ensuring that loved ones will receive a death benefit payout if the insured person passes away during the policy term.

In addition to term life insurance, Gerber also offers whole life insurance, guaranteed life insurance, accident protection insurance, and various plans for children and seniors. The company is known for its affordable rates, flexibility, and strong financial stability, making it a reliable choice for individuals and families seeking life insurance.

Gerber Life Insurance is a well-established, reputable provider

Gerber Life Insurance has been in business since 1967, when it was founded by the Gerber Products Company, the popular manufacturer of baby food. Now a member of the Western & Southern Financial Group, Gerber Life has over $63 billion of life insurance in force and an A+ financial stability rating from AM Best, indicating a strong ability to meet claims obligations.

The company offers a diverse range of plans, including term life insurance, whole life insurance, guaranteed life insurance, and accident protection insurance. Their term life insurance provides level rates for a specific period and is typically the most affordable type of life insurance. Their whole life insurance offers lifelong coverage and builds cash value over time, providing a savings component that can be borrowed against or withdrawn. Gerber's guaranteed life insurance is designed for individuals aged 50-80 who may have difficulty obtaining coverage elsewhere, as it offers guaranteed acceptance without a medical exam. Their accident protection insurance pays out in the case of accidental death or disabling injuries, helping with medical expenses and lost wages.

Gerber is particularly well-known for its children's life insurance plans, including the Gerber Life Grow-Up Plan and the Young Adult Plan, which offer whole life insurance coverage for children and teens. These plans provide lifelong coverage and cash value growth, with coverage amounts ranging from $5,000 to $50,000. When the child turns 18, the coverage amount doubles while the premiums remain the same. At age 21, the child becomes the policyholder and can choose to continue coverage or receive the accumulated cash value.

In addition to their standard life insurance plans, Gerber also offers a college plan that combines life insurance with a savings component. This plan guarantees a payout of $10,000 to $150,000 after 10 to 20 years, which can be used for college expenses or anything else the child may need. If the policyholder dies before the plan matures, the full benefit amount becomes a death benefit for the designated beneficiary.

Gerber Life Insurance is accessible to people of various ages and health conditions, with guaranteed acceptance policies available for those over 50. Their policies are available nationwide, although product availability varies by state. The company provides multiple ways to get support, with customer service available by phone, email, and fax during the week.

Frequently asked questions