Gerber Guaranteed Life Insurance: Customer Reviews and Rating
Last Updated on: October 11th, 2024
Reviewed by Kyle Wilson
- Licensed Agent
- @ Burial Senior Insurance
Gerber Life Insurance stands out as a reliable, well-established life insurer offering a diverse range of plans to suit different needs. It’s one of our top picks for the best term life insurance companies as well as the best whole life insurers.
In this review, we take an in-depth look at the Gerber Life Insurance Company, exploring gerber guaranteed life insurance, pros and cons, plans, pricing, and customer satisfaction ratings. Read on for more.
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Who Should Get Gerber Life Insurance?
With life insurance policies available for all ages, Gerber Life could be a good option for those seeking whole life coverage for a child or teen, or term or whole life for an adult or senior, as well as those looking for guaranteed-coverage or no-exam life insurance.
Gerber Life Company History
For more than 50 years, Gerber Life has been providing budget-friendly life insurance so that children and adults can have greater financial protection. Founded in 1967 by the Gerber Products Company, we share a common heritage and values in caring for the millions of families who place their trust in us.
Today, Gerber Life is a member of Western & Southern Financial Group Inc., one of the strongest life insurance groups in the world. With $65 billion of life insurance in force as of December 2023, you can count on Gerber Life to provide insurance plans for the entire family that offer the reliability, flexibility, and peace of mind you deserve.
Gerber Guaranteed Life Insurance Company Policy Overview
Face Amounts Range: $5,000 up to $25,000
Insurable Ages: 50 – 80
State Unavailability: Not for sale in MT
Graded Period: 24 months
Riders: None
Premium Percentage Returned: 10% of earned premium
Application Process: Using an independent agency or directly through the carrier
Guaranteed Life policies are $25,000. Gerber Life Insurance Company will not issue insurance for any proposed insured when a POA or Guardianship exists on the proposed insured.
What Riders Does Gerber Life Insurance Offer?
Riders are additional coverage options you can select to customize your insurance policy. Here are two riders Gerber offers. Keep in mind that others may be available and availability varies depending on your location and the policy.
- They gerber guaranteed life insurance Option Rider. This rider allows your child to purchase additional coverage as an adult at standard premiums relative to their age. Gerber doesn’t require a medical exam to get this extra coverage. It’s automatically included in the Gerber Life Grow-Up Plan at no additional cost.
- Waiver of Premium Rider. This rider is available at an additional cost for Gerber Whole Life policyholders. If you become disabled, Gerber will waive your premiums while your coverage remains active. You must meet age requirements to qualify.
Pros of gerber guaranteed life insurance
There are many advantages to choosing gerber guaranteed life insurance. Below we will list each pro and explain why it might benefit you.
- Guaranteed Issue Policy
If you’re 50+ years old, your life insurance acceptance is guaranteed regardless of your health history. There are no medical exams to complete or lengthy health questionnaires to fill out.
To be eligible for coverage you must be a U.S. citizen between 50 and 80 years old (New York residents, maximum age of 75) residing in the US or permanent legal resident. The total limit of all combined Gerber Life Guaranteed Life policies is $25,000. Gerber Life Insurance Company will not issue insurance for any proposed insured when a POA or Guardianship exists on the proposed insured, except legal guardians of children.
- Gerber Life is a Reputable & Financially Stable Company
When it comes to the plan itself, the Gerber Life Insurance Company’s Guaranteed Life Plan is a fairly typical policy in terms of features and benefits. What sets it apart is that it’s backed by an excellent life insurance carrier with a strong balance sheet and a reputable brand name. This is a company that you can put your faith into and trust that your beneficiary will receive the necessary funds that can be used for your final expenses.
- Graded Death Benefit
Guaranteed Life is individual whole life insurance with modified benefits. For applicants aged 50-80 (50-75 in New York) who die (for any reason other than an accident as defined in the policy) within the first two years of coverage, the death benefit will equal 110% of earned premiums. The full death benefit amount is only payable for other causes after the first two years of coverage (one year in North Dakota).
- Product Availability
Gerber Life Insurance Company’s Guaranteed Life is available for people between the ages of 50 and 80 in quantities that range from $5,000 up to $25,000. With Gerber Life, you can take out multiple policies, but the cumulative total cannot surpass $25,000.
To compare guaranteed acceptance life insurance rates for your exact age and requested policy amount, use the complimentary quoting tool on the side of this page.
- Competitive Premiums & Payment Options
When selecting a guaranteed acceptance policy, the cost will always be one of the key determining factors.
Generally speaking, there isn’t a huge variety of policy features across carriers, which is why it always comes down to price.
We also understand that most people qualified for a no-questions policy are on a fixed income and unable to pay exorbitant monthly premiums.
Gerber Life Insurance Company is known for its competitive pricing, although they are a little more expensive than other guaranteed acceptance plans. These premiums, however, are fixed and will never increase on you.
Be Aware: Unfortunately, there are some plans on the market where premiums increase every 5 years. This is not the case with Gerber Life.
Payment of premiums is notably flexible with Gerber Life and there are discounts for certain methods. You can pay by direct billing, debit, credit, or ACH (pre authorized checking). As of today, when you pay by ACH, you can get a discount of up to 8%. This level of savings can add up over time.
Easy Application Process
One of Gerber Life Insurance Company’s strengths as a company is its streamlined, digital application process. The entire application takes place over the phone with an independent agent who is appointed with Gerber Life and licensed in your state.
The information needed is very basic and relates to the insured, the owner, and the beneficiary. The policy can be electronically signed in a matter of minutes and delivered directly to your inbox.
During the application process, one of the unique features of Gerber Life is that the owner of the policy can be different from the insured. For example, an adult child can own the policy on their father, but the father is the insured.
Gerber guaranteed life insurance customer satisfaction
The Gerber website includes positive and negative reviews for each plan type, with generally high ratings. For example, 81% of 155 reviewers recommended Gerber’s guaranteed life plan and 86% of 1714 reviewers recommended the Gerber Life Grow-Up plan.
Positive reviews mention the company’s helpful customer service and the peace of mind Gerber coverage provides. Negative reviews focus on payment and billing issues.
According to the NAIC, Gerber Life has a slightly higher number of complaints (an index of 0.30 over the national average) than similar companies. Gerber’s parent company, Western and Southern, has an A+ rating from the BBB and mostly negative customer feedback based on just four reviews and four complaints closed in the past three years.
Is Gerber Life Good Life Insurance?
Gerber Life may be a good choice for those seeking whole or term life insurance but want to avoid taking a medical exam. Gerber Life also has life insurance options specifically tailored for children and teens. If you want coverage quickly, many of Gerber Life’s plans allow you to apply directly online and get approval on the same day.
Gerber Life received an A (Excellent) rating from AM Best for financial strength, meaning the company has historically paid out claims and met all financial obligations.
The National Association of Insurance Commissioners (NAIC) gave Gerber Life a 0.59 rating on its complaint index. With the average company receiving a 1.0 rating, gerber guaranteed life insurance has substantially lower complaints than the average company.
FAQs
Q1- Does purchasing a Gerber Life policy require a medical exam?
In most cases, a medical exam is not required to purchase a policy from Gerber Life, but it may be required for a term life or whole life plan if the applicant is 51 years or older and applies for more than $10,000 of coverage.
Senior Writer & Licensed Life Insurance Agent
Iqra is a dynamic and insightful senior writer with a passion for life insurance and financial planning. With over 8 years of hands-on experience in the insurance industry, Iqra has earned a reputation for delivering clear, actionable advice that empowers individuals to make informed decisions about their financial future. At Burial Senior Insurance, she not only excels as a licensed insurance agent but also as a trusted guide who has successfully advised over +1500 clients, helping them navigate the often complex world of life insurance and annuities. Her articles have been featured in top-tier financial publications, making her a respected voice in the industry.
