Gerber Life provides a variety of life insurance plans for every life stage. It is particularly known for having life insurance policies for children, which can be beneficial for children in a few different ways. Not only does it provide financial protection for your children if you pass away, but it also can be used as an investment and savings resource for their future.
Gerber also offers life insurance policies that are designed for adults and seniors. It even offers policies with guaranteed acceptance if you meet the age requirements. As a whole, the company offers something for everyone.
- Parents or grandparents who want life insurance for their children
- Parents or grandparents who want to save for their children’s future
- Seniors who want a modest amount of guaranteed coverage
- Several policies to choose from
- No medical exam required for most of its policies
- Guaranteed acceptance for those who meet the age qualifications
- No mobile app
- Customer service only by phone
Gerber Life Insurance Ratings at a Glance
Gerber Life Insurance is unique in that it offers a plan that is specifically designed to create a nest egg for your children or grandchildren. It is a whole life insurance policy that provides coverage amounts between $5,000 and $50,000. It also builds cash value that you can borrow from or that your child can borrow from once they become an adult.
With this plan, you — the parent or grandparent — will be the policyholder responsible for paying the monthly premium until the child turns 21 years old. At that point, they become the policyholder and can choose to either continue the policy or surrender it to receive the cash value of the policy. The plan comes with guaranteed coverage for life, so the new policyholder can also purchase more life insurance coverage, regardless of their health or occupation.
Gerber Life College Plan
The Gerber Life College Plan is an individual endowment policy that can provide protection and benefits for your children in a several different ways. It provides adult life insurance coverage for parents for a specified term between 10 and 20 years. If something were to happen to you before the policy matured, the full benefit amount would be paid to the child or other beneficiary named on the policy. When the policy does mature, you’ll receive a guaranteed payout for your child, which they can then use to pay for college expenses or other necessary costs. You can choose a coverage amount between $10,000 and $150,000 for the policy.
Accident Protection Insurance
Accident protection insurance adds an extra layer of coverage to other types of life insurance policies. Like other policies, it will pay out the death benefit to your beneficiaries if you pass away due to an accident that is covered by your insurance policy. The difference is that this type of policy will also pay out to you if you survive a covered accident and have a qualifying disabling injury as a result.
The benefit of an accident protection insurance policy is that it offers guaranteed approval, regardless of your health or occupation. You don’t need to undergo a medical exam or answer health questions to receive coverage. A Gerber Life accident protection insurance policy offers coverage amounts that range from $25,000 to $100,000.
Term Life Insurance
Term life insurance is often thought of as the affordable life insurance option. It provides flexible coverage over a specified term of either 10, 20 or 30 years and then expires at the end of the term. Gerber Life offers coverage amounts of $100,000 to $300,000 with a premium rate that is locked in for the entire duration of the policy.
Whole Life Insurance
Whole life insurance policies last for the entire lifetime of the person who is insured by the policy Gerber Life offers whole life policies to adults between the ages of 18 to 70, and in most cases, the policies don’t require a medical exam. You can customize your coverage based on what fits your needs and your budget, with coverage amounts ranging from $50,000 to $300,000. Like the term life insurance policy, the premium rate is locked in for the entire policy.
Guaranteed Life Insurance
Guaranteed life insurance is a useful option because it provides guaranteed approval for applicants between the ages of 50 and 80 years old. Gerber Life offers these policies in coverage amounts between $5,000 and $25,000. Its guaranteed life insurance policies also build cash value that you can borrow from if you need to.
If you want to get in contact with Gerber Life Insurance, you can call 800-704-2180. Its customer support team is available Monday to Friday (8 a.m. to 7 p.m. EST) and Saturday (9 a.m. to 5 p.m. EST). On average, you will have to wait up to seven minutes before an agent is assigned to you.
Gerber's customer support service has a high quality of communication, and each caller will find answers to their problems. You can also send an e-mail by using the contact form on the website. After you describe the issue, an agent will reach back to you by replying to the same e-mail address you used.
With the many plans that it offers, Gerber Life Insurance is a great value. Its term life insurance plans start at just $15.42 per month, and the premium is locked in for the duration of the policy.
The premium for your life insurance policy depends on several factors, including the type of policy and coverage amount that you choose. Additional factors include your age and location. In some cases, your health and occupation could be taken into consideration as well.
Gerber Grow-Up Plan Cash Value Chart
Many people criticize this investment and consider that Gerber's cash value would yield significant losses after four decades. In the following chart, you can see an example that shows the return on investment over the years, which is lower than expected. While this company delivers high-quality insurance plans, its cash value investment is not performing as well as Gerber says.
|Child Age||Total Premiums Paid||Cash Value|
|5 years old||$1,800||$0|
|10 years old||$4,000||$1,500|
|15 years old||$6,000||$2,500|
|21 years old||$7,500||$5,000|
|35 years old||$13,000||$12,000|
|40 years old||$15,000||$14,500|
Gerber Life offers life insurance policies that can provide useful benefits. It’s a great option if you have children that you want to ensure and are covered beyond a standard life insurance policy. One of the major benefits that Gerber Life offers is that you can purchase a policy for your child that they can take over once they become an adult. This feature allows you to lock in a premium rate for your children and ensure that they will be able to get life insurance, regardless of their health status.
While Gerber Life does not offer a mobile app to its customers, it does offer a positive online user experience. The website is very easy to navigate, and all of Gerber Life’s policies are right on the homepage for you to view and compare. You can easily get a free, guaranteed life quote directly from the Gerber Life website as well.
Questions are sure to come up with any life insurance policy, and fortunately, Gerber Life’s website can walk you through what each website covers. In most cases, you can probably find the answer to your question within its online resources.
How Does Gerber Life Insurance Work?
Similar to other providers, Gerber offers term and whole policies for customers of all ages. Several options are available for children, adults and seniors. Each plan is created to meet your needs because this company values customer satisfaction the most. Parents can get special plans for their children and start their life insurance from an early age.
Once they turn 18, these special plans are converted into permanent policies that double in value. Seniors that got rejected by other providers can apply for guaranteed life insurance, but the maximum coverage is limited to $25,000.
Gerber has life insurance that is highly rated by its customers. Positive reviews and a low number of complaints are proof of Gerber's professionalism, but its rates are higher than average and not all plans are affordable.
Gerber Life Insurance vs. Competitors
|Gerber Life Insurance||Lemonade||Agile Life Insurance|
|Types offered||Grow Up Plan, Gerber Life College Plan, Accident Protection, Term, Whole, Permanent||Terms of 10, 15, 20, 25 and 30 years||Term life insurance|
|Pricing||Starts at $15.42/mo||Starts at $9/mo||Starts at $29/mo|
|Coverage amounts||Up to $300,000||Up to $1,500,000||Up to $50,000|
- securely through Ladder Life Insurance's websiteBest For:Adjustable coverage
Ladder Insurance Services, LLC (CA license # OK22568; AR license # 3000140372) distributes term life insurance products issued by multiple insurers – for further details see ladderlife.com. All insurance products are governed by the terms set forth in the applicable insurance policy. Each insurer has financial responsibility for its own products. Coverage amounts vary by state.
- securely through Haven Life Insurance's websiteBest For:Under Age 64
Haven Term is a Term Life Insurance Policy (ICC21 Haven Term in certain states, including NC) issued by C.M. Life Insurance Company (C.M. Life), Enfield, CT 06082. In New York (DTC-NY) and California (DTC-CA), it is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.
Getting life insurance is a wise decision for anyone who wants to guarantee a safe and stable future for their loved ones. The death benefit can pay off debts and cover the living costs of your family after your passing, which is a financial relief in times of need.
Before you make the decision to get life insurance for yourself, figure out your needs by identifying your situation. When you're looking for a provider, consider Gerber Life Insurance as one of the choices worth looking into. It has a large variety of plans intended for individuals of all ages, including children.
Each member of your family can get a policy from this company. Your children can benefit from the Gerber Life Grow-Up plan, which insures them temporarily. Once they reach the age of 18, this plan converts into a whole life insurance policy and benefits will double in value without increasing the premiums.
While this company is ideal for large families and individuals that want to work with a trusted provider, Gerber has rates that are above the average and its plans are not ideal for someone that is looking for affordable options.
Frequently Asked Questions
Is Gerber Life Insurance worth it?
Gerber Life Insurance is worth it for families that want to get insurance. This company specializes in providing attractive plans designed for people of all ages — meaning that children, adults and seniors can all get a policy from Gerber.
Is Gerber Grow-Up Plan worth it?
Children and teens don’t have easy access to this service, which makes the process of finding a trusted life insurance provider difficult. Gerber has a Grow-Up plan intended just for them, and this policy stays active until they turn 18 years old. After that point, the plan remains active as a whole life insurance that can be managed by the young adult.
How long does it take for Gerber Life Insurance to pay out?
On average, it takes around 30 days for Gerber Life Insurance to pay out. Most customers receive their benefits one month after filing a claim, but this waiting period can increase if there are difficulties with the system. In some cases, you will have to provide additional documents and information, which further delays the payout.
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Benzinga crafted a specific methodology to rank life insurance. To see a comprehensive breakdown of our methodology, please visit our Life Insurance Methodology page.