Gerber Life Insurance Review

Gerber is a household name across many industries. While baby products is where the name gained it’s fame, the Gerber brand extends much farther.

Gerber Life Insurance has achieved a solid reputation for providing coverage for all ages, even though most people think of them for their policies for children.

Insurer Ratings

With an AM Best Company A rating (Excellent), Gerber Life is in great financial shape with a conservative investment approach.

The Better Business Bureau rates Gerber Life A+, the highest possible rating, even though it’s not accredited by the BBB.

Only 68 complaints have been closed out over a 3-year period through the BBB, with most of them centered on products and services.

While these independent ratings should only be used as a guideline, they back up Gerber Life’s reputation as a trustworthy and reliable insurance carrier.

Life Insurance Products Offered

Regarding life insurance, Gerber Life doesn’t have the most extensive selection of coverage, but all of the main bases are covered including:

• Term Life Insurance
• Whole Life Insurance
• Guaranteed Life Insurance

Term Life Insurance

Like all term life insurance, Gerber Life will provide you with a policy offering death benefits only. Unlike with whole life insurance, you won’t get cash value accumulating. If you’re young and in good health, term life insurance is a viable and affordable entry point to coverage, even if it’s limited concerning performance.

Coverage starts at $25,000 and goes up to $150,000.

Premiums start at just $8 monthly, bringing this policy within reach of just about anyone regardless of income.

As long as you’re aged 18 to 50, you can potentially obtain coverage of up to $100,000 without requiring a medical.

Terms available are 10, 15, 20 and 30 years. Premiums are locked in for the length of the term.

Whole Life Insurance

Permanent life insurance, like whole life coverage, gives you both death benefits and a cash value portion that builds up tax-deferred. This gives you the opportunity to accumulate savings that grow at a preset rate of interest.

Since cash value builds tax-deferred, you won’t face liability until you withdraw the funds. This component grows and compounds over the length of the policy, although premiums will be higher than with term coverage to reflect this gain.

An added advantage of whole life insurance is that you’ll be able to borrow or withdraw for any reason at all, although this will impact future payout.

Coverage remains in place throughout the whole of your life assuming premiums are paid in full. The amount of the premium stays locked in even as you get older and regardless of health status.

The face value ranges from $25,000 to $150,000 for anyone between the ages of 18 and 50. If you fall within these age parameters, up to $100,000 in coverage can be obtained without requiring a medical exam.

Guaranteed Life Insurance

If you want life insurance to safeguard loved ones from shouldering final expenses and funeral costs, Gerber Life offers guaranteed life insurance for this purpose.

This combined policy is available for anyone between the ages of 50 and 80. As the name of the policy makes clear, acceptance is guaranteed.

Like other guaranteed issue policies underwriting is simple with no physical exam needed. An online application is all that’s required to get this policy in place.

Coverage ranges from $5000 to $25,000 with a cash value component that will see tax-deferred growth until the funds are withdrawn.

Other Products Offered

Gerber Life has three main products besides regular life insurance:

• Gerber Life College Plan
• Gerber Life Grow-Up Plan
• Accident Protection

Gerber Life College Plan

College is expensive, and with the Gerber Life College Plan you can look ahead and make provisions with a policy rather than relying on making piecemeal savings.

This policy steadily grows in value and is reliable since it’s not tied to stock market performance.

Guaranteed payments of $10,000 to $150,000 upon maturity assume that all premiums are paid.

The difference between the Gerber Life College Plan and a 529 plan is that funds can be disbursed as you see fit, whether for college expenses or any other purpose.

Gerber Life Grow-Up Plan

In the unforeseen event of losing a child, the Gerber Life Grow-Up Plan at least removes a financial burden from your list of concerns.

Death benefits start at $5000 and go as high as $50,000. There is also a tax-deferred cash value that accumulates.

Policies are available for children from two weeks to fourteen years old.

Premiums remain level even as your child gets older. The cash value will also continue to grow as long as you meet all premiums.

Coverage doubles at the age of 18.

While losing a child is something nobody wants to think about, what would be even worse is being left with no insurance in place, so this is a smart financial move and a thoughtful offering from Gerber Life.

Accident Protection

Accidents, by their very nature, hit you entirely unexpectedly. Whether you suffer an injury that renders you disabled or you die accidentally, with Gerber Life’s accident protection, you’ll release your loved ones from the financial burden they would otherwise face.

Coverage begins at $20,000 and rises to as much as $100,000. Funds can be used for medical costs, lost income, or other associated costs.

This policy is available to those aged 19 to 69. It’s also available for spouses.

Since there is no medical exam required, acceptance is guaranteed whatever your health status or occupation.

Benefits don’t decrease while monthly premiums remain level.

Company History

Gerber Life Insurance is a relatively young company that opened for business in 1967.

When it first sprang up, the company aimed to provide affordable life insurance for families with limited means.

The insurance provider is a subsidiary of Gerber, the baby food brand, and Gerber Life Insurance holds the same company values as the parent company with a focus on allowing parents to raise their children with an eye on the future and financial stability.

The additional aim of the insurance arm of Gerber is to offer parents protection against unforeseen events. With a range of child insurance plans available, all customers can enjoy peace of mind at an affordable rate.

Gerber Life Insurance offers a selection of whole life and term life policies in North America and Puerto Rico.

Today, Gerber Life has over 3 million policies in place, amounting to over $45 million in combined coverage.

As well as life insurance policies, there are also college plans available with more flexibility than 529 college plans.

Gerber Alternatives

Mutual of Omaha – Known for all type of insurance coverage, Mutual of Omaha is one of the most well known insurance companies in the USA.

Foresters – A large company that offers a lot of different financial services, Foresters Financial is a top option for specific types of life insurance.

Transamerica – One of the most highly regarded life insurance companies, Transamerica is a name almost every knows in life insurance.

Gerber Life Insurance Review Bottom Line

Gerber has solid ratings and a good reputation when it comes to customer service and paying out their policies.

If they have a policy that meets your needs and come up as the most affordable option, you should have no fears of using them for your life insurance policy.