Gerber Guaranteed Life Insurance: Customer Reviews and Rating
Gerber Guaranteed Life Insurance : Customer Reviews and Rating Last Updated on: October 11th, 2024 Reviewed by Kyle Wilson Licensed Agent @ Burial Senior Insurance Get A Free Quote 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. Get Free Quotes Customized Options Await Quotes Now 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
