Gerber Life Insurance Review: Pros, Cons, and Overall Value (2023)

Gerber Life Insurance Company is a leading provider of life insurance protection for adults of all ages. They offer term life insurance, whole life insurance, and guaranteed acceptance life insurance products.

For those wondering, yes, Gerber Life Insurance Company is the life insurance division of the well-known baby food company, as you can see in their logo!

You can reach Gerber Life’s customer service team at (866) 503-4480 Monday through Friday from 8am – 7pm (ET) and on Saturday from 9am – 5pm (ET).

Gerber has an A+ rating from the Better Business Bureau and an A (Excellent) financial strength rating from A.M. Best.

Is Gerber Life Insurance Good for Adults?

Gerber Life Insurance offers a range of policies for adults, including term life, whole life, and guaranteed issue whole life insurance. But is Gerber Life Insurance a good choice for adults looking for coverage? Here are some factors to consider:

Pros

• Easy application process: Gerber Life Insurance’s adult policies offer a simplified application process that does not require a medical exam for some policies. This can be a convenient option for adults looking for coverage without the hassle of a medical exam.
• Guaranteed issue whole life insurance: Gerber Life Insurance offers guaranteed issue whole life insurance policies for adults aged 50 to 80. Depending on the state, these policies do not require a medical exam and can provide coverage from $5,000 to $25,000. This can be a good option for older adults who may have difficulty obtaining coverage through other means.
• Senior life insurance: Gerber offers a product specifically for seniors, known simply as Gerber Senior Life Insurance. This can be a good option for parents who want to ensure their child has coverage in case of an unexpected tragedy.

Cons

• Limited coverage amounts: Gerber Life Insurance’s adult policies offer coverage of up to $300,000 for term life insurance and up to $50,000 for whole life insurance. This may not be enough coverage for some adults, especially those with significant financial obligations.
• Higher premiums: Gerber Life Insurance’s policies may have higher premiums than other insurance providers. This can be a disadvantage for adults who are looking for affordable coverage.
• Limited term lengths: Gerber Life Insurance’s term life policies offer term lengths of up to 30 years. This may not be sufficient coverage for adults looking for longer-term coverage options.

Gerber Life Insurance can be a good option for adults looking for easy application processes and guaranteed issue whole life insurance policies. However, the limited coverage amounts, higher premiums, and limited term lengths may disadvantage some adults. It’s important for adults to carefully consider their options and compare policies from multiple insurance providers before making a decision.

Gerber Life Insurance for Kids

Gerber Life Insurance offers a unique policy called the Grow-Up Plan, specifically designed for children. Parents, grandparents, or legal guardians can apply for this policy for children between 14 days to 14 years.

The Grow-Up Plan is a life insurance policy covering $5,000 to $50,000. It is a great way to ensure that your child has financial protection in case of any unexpected events. The policy also builds cash value over time, which can be used for future expenses such as college tuition or a down payment on a home.

One of the benefits of the Grow-Up Plan is that it locks in the child’s insurability at a young age. This means that even if the child develops a medical condition later in life, they will still be eligible for coverage. Additionally, the premiums for the policy remain the same throughout the child’s life, which can be a significant advantage as insurance premiums tend to increase with age.

Another advantage of the Grow-Up Plan is that it offers an option to purchase additional coverage without needing a medical exam. This can be beneficial if the child develops a medical condition that would make it difficult to obtain additional coverage later in life.

Overall, the Gerber Life Insurance Grow-Up Plan is a great option for parents or guardians who want to ensure their child has financial protection in case of unexpected events. With flexible coverage options, locked-in insurability, and a guaranteed level premium, it is a policy worth considering.

Gerber Life Insurance Rate Chart

Gerber Life Insurance offers a variety of policies for adults and children, including term life, whole life, and final expense insurance. The cost of these policies varies depending on several factors, including age, health, and coverage amount.

Gerber offers coverage for 10, 20, or 30 years for term life insurance, with coverage amounts ranging from $100,000 to $300,000. Rates for term life insurance are generally lower than whole life insurance rates, but they also expire after a certain period of time.

Whole life insurance policies from Gerber provide coverage for the policyholder’s entire life as long as premiums are paid. Coverage amounts range from $50,000 to $300,000, generally higher than term life insurance rates.

Gerber also offers final expense insurance to cover end-of-life expenses such as funeral and medical bills. Coverage amounts for final expense insurance range from $5,000 to $25,000, generally lower than term or whole life insurance rates.

To give an idea of the rates for Gerber Life Insurance policies, here is a sample rate chart for a 40-year-old non-smoker applying for a $100,000 term life insurance policy:

It’s important to note that these rates are just a sample and may not reflect the rates for every individual. Rates can vary based on age, health, and coverage amount.

Overall, Gerber Life Insurance offers a range of policies with varying coverage amounts and rates. Choosing a policy’s important to consider your individual needs and budget carefully.

Gerber Life Insurance Cash Out

Gerber Life Insurance offers a cash-out option for policyholders who have accumulated cash value. The cash-out option allows policyholders to access their policy’s accumulated cash value while maintaining the death benefit coverage.

Policyholders must contact the company and request a surrender form to cash out a Gerber Life Insurance policy. The surrender form will require policyholders to provide their policy number, the amount they wish to surrender, and their signature.

Once the surrender form is submitted, Gerber Life Insurance will process the request and issue a check for the policy’s cash value. It is important to note that cashing out a policy will reduce the death benefit, and policyholders may be subject to surrender charges and taxes.

Policyholders considering cashing out their Gerber Life Insurance policy should speak with a financial advisor to understand the potential tax implications and determine if the policy is the best option for their financial situation.

Here are some key points to keep in mind when considering a Gerber Life Insurance cash out:

• Cashing out a policy will reduce the death benefit coverage.
• Surrender charges and taxes may apply.
• Policyholders should speak with a financial advisor before making a decision.
• Gerber Life Insurance offers a cash-out option for policyholders who have accumulated cash value.

Overall, the Gerber Life Insurance cash-out option provides policyholders a way to access the accumulated cash value of their policy. However, policyholders should carefully consider the potential consequences before making a decision.

Gerber Life Insurance Lawsuit

Gerber Life Insurance has faced legal action in the past. In 2018, a class-action lawsuit was filed against the company alleging its “College Plan” and “Grow-Up Plan” were deceptive and misleading. The lawsuit claimed that Gerber Life Insurance marketed these policies as savings plans, but they were just life insurance policies.

The lawsuit further alleged that Gerber Life Insurance’s marketing materials were designed to mislead consumers into believing that the policies would provide a significant return on investment. The plaintiffs argued that the policies were not designed to provide any real savings but instead, were intended to generate profits for the company.

In response, Gerber Life Insurance denied any wrongdoing and argued that its policies were clearly labeled life insurance policies. The company also pointed out that state regulators had reviewed and approved its policies.

A judge eventually dismissed the case and found that Gerber Life Insurance had not engaged in deceptive practices. The judge noted that the policies clearly stated that they were life insurance policies and that any savings were incidental.

Despite the dismissal of the lawsuit, it serves as a reminder that consumers should always read the fine print before purchasing any insurance policy. It is also important to understand the difference between savings plans and life insurance policies, as they are two distinct products with different purposes.

Is Gerber Life Insurance Worth It?

Gerber Life Insurance offers a range of policies for children, teens, young adults, adults, and seniors. But is it worth it? Here are some factors to consider:

Pros

• No medical exam required for some policies: This can be a big advantage for those who want to avoid the hassle of a medical exam or have health issues that could make it difficult to qualify for coverage.
• Coverage for children: Gerber’s Grow-Up Plan is a whole life insurance policy with $5,000 to $50,000 coverage options. Parents, grandparents, and legal guardians can apply when children are between 14 days and 14 years old.
• Guaranteed cash value: Gerber’s whole life policies build cash value over time, which can be borrowed against or used to pay premiums.
• Guaranteed death benefit: Gerber’s policies come with a guaranteed death benefit, which means beneficiaries will receive a payout regardless of how long the policyholder has been paying premiums.

Cons

• Expensive premiums: Gerber’s premiums can be higher than other insurance providers, especially for older adults.
• Low coverage amounts: Gerber’s policies may not offer enough coverage for some individuals or families.
• Limited policy options: Gerber’s policies are limited to whole life and term life insurance, which may not meet the needs of all customers.
• Mixed customer reviews: Gerber has received mixed customer reviews, with some praising its customer service and others complaining about slow claims processing and other issues.

Whether Gerber Life Insurance is worth it depends on individual circumstances, such as age, health, and coverage needs. Customers should consider the pros and cons before deciding whether to purchase a policy from Gerber or another insurance provider.

Gerber Life Insurance Login

Gerber Life Insurance provides an online portal for customers to manage their policies. The Gerber Life eService allows policyholders to view policy details, pay premiums, change beneficiaries, update personal information, and more. This section will discuss how to access the Gerber Life Insurance login portal and the features available to customers.

To access the Gerber Life Insurance login portal, policyholders can visit the Gerber Life website and click on the “Customer Login” button at the top right corner. Alternatively, they can go directly to Gerber’s login page. Once on the login page, customers should enter their user ID, email address, and password to access their accounts.

After logging in, policyholders can view their policy details, including coverage amounts, premium amounts, and payment due dates. They can also make payments online using a credit card or bank account. The Gerber Life eService allows customers to set up automatic payments, saving time and ensuring timely payments. Additionally, customers can change their payment method or update their billing address through the online portal.

Another feature available through the Gerber Life eService is the ability to change beneficiaries. Policyholders can add, remove, or update beneficiaries through the online portal. They can also view their current beneficiaries and the percentage of the death benefit each beneficiary will receive.

In conclusion, the Gerber Life Insurance login portal provides customers a convenient way to manage their policies. Policyholders can access their accounts online, view policy details, make payments, change beneficiaries, and update personal information. The Gerber Life eService is useful for policyholders who want to manage their policies efficiently and effectively.

Conclusion

We hope you enjoyed this Gerber Life Insurance Review!

If you have any additional questions, don’t hesitate to email us or leave a comment here.

Warm Regards,
The GetSure Team