Gerber Life Insurance Review

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Gerber Life Insurance stands out as a reliable, well-established life insurer offering a diverse range of plans to suit different needs. In fact, 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 its pros and cons, plans, pricing and customer satisfaction ratings. Read on for more.

Gerber Life Insurance pros and cons

Pros explained

No exam life insurance policies available

Gerber offers term and whole life simplified issue policies that require only a few medical questions. It also sells guaranteed issue life insurance for applicants aged 50 or older, waiving medical underwriting in many cases.

Life insurance options for children under 18

The Gerber Life Grow-Up Plan is a children's whole life insurance policy designed to start building financial security for your children or grandchildren early on. It offers lifelong coverage and cash value growth, with coverage amounts ranging from $5,000 to $50,000. When the child turns 18, the coverage amount doubles while the premiums remain the same. Coverage is available for children under one through 17 years of age.

Some of its policies automatically include riders

Two of Gerber Life's insurance options automatically include riders.

• Guaranteed purchase option rider: Automatically included with Gerber Life Grow-Up Plans, this rider allows adult children to buy additional coverage at certain policy anniversary dates or life events, regardless of their health or occupation.

• Accelerated death benefit rider: Included with the Fabric by Gerber Life term life insurance policy, this rider allows policyholders to access a portion of the death benefit if they are diagnosed as terminally ill with 12 or fewer months to live.

Cons explained

Limited coverage amounts on most plans

While Fabric by Gerber Life offers up to $5 million in term life coverage, other Gerber Life policies offer much lower limits. For example, you can purchase up to $50,000 in child life insurance and up to $300,000 in whole or term life coverage. While the company's website states other coverage options over $300,000 are available up to $1,000,000, you must speak with a representative to see if you qualify.

Limited policy customization

Compared to other life insurance providers, Gerber Life offers a limited selection of life insurance riders and optional coverage. Two of Gerber's policies automatically include riders at no additional cost. However, the only other optional rider it offers is a waiver of premium rider available for the Gerber Life Whole Life Policy. No other options for customization are available at this time.

Gerber Life Insurance plans

From life insurance for beginners to policies geared towards older adults, Gerber offers a diverse range of plans.

Term life insurance plan

Gerber’s term life insurance is an option for temporary coverage. Term life insurance provides level rates for a specific period and is typically the most affordable type of life insurance.

Gerber offers 10-, 20- and 30-year term policies to adults aged 18 to 70. Coverage amounts range from $100,000 to $300,000. You could purchase up to $1 million if you qualify, but you must speak to an agent for coverage amounts over $300,000.

In many cases, a medical exam isn’t required to obtain term life coverage through Gerber, though the likelihood increases if you’re over 50 when you apply.

Whole life insurance plan

The Gerber whole life insurance plan offers lifelong coverage, ensuring your loved ones receive the benefit regardless of when you die. Whole life insurance, a form of permanent life insurance, builds cash value over time, providing a savings component you can borrow against or withdraw if needed.

Gerber's whole life insurance policy offers between $50,000 and $300,000 in coverage (though you may be able to purchase up to $1 million if you speak directly with an agent) to individuals aged 18 to 80. The interest rate for a policy loan is 8%, and taking a loan can impact the policy’s cash value and death benefit. As long as payments are current, your premiums remain unchanged.

Gerber life insurance college plan

The Gerber college plan combines life insurance with a savings component. As an alternative to traditional college savings accounts, it guarantees a specific amount of money after 10 to 20 years while also providing adult life insurance coverage. If you die, the full benefit amount becomes a death benefit for the designated beneficiary. The guaranteed payout at policy maturity ranges from $10,000 to $150,000.

Gerber Life Grow-Up plan

The Gerber Grow-Up plan is a whole life insurance policy for children up to 17, offering coverage from $5,000 to $50,000. No medical exam is required and the coverage amount doubles when the child turns 18.

At age 21, the child becomes the policyholder and can continue coverage or receive the accumulated cash value. Gerber offers a similar Young Adult plan for children between 15 and 17 years of age.

Guaranteed life insurance plan

Gerber’s guaranteed life insurance is for individuals aged 50 to 80 who may have difficulty obtaining coverage elsewhere. It offers guaranteed acceptance and coverage for life without a medical exam. Coverage amounts range from $5,000 to $25,000 with a graded death benefit.

For non-accidental deaths during the first two years of the policy, the death benefit is restricted to paid premiums plus 10%. After two years, the full death benefit pays out to the beneficiary.

Fabric by Gerber

Fabric by Gerber Life is an affiliate of Gerber Life Insurance Company offering a term life insurance policy underwritten by Western-Southern Life Assurance Company that affords between $5,000 and $5 million in coverage. Term length options range from 10 to 30 years in 10-year increments. The policy also includes an accelerated benefit rider at no extra cost. You can apply online in minutes and may not need to undergo a medical exam in most cases.

Accident protection insurance

Gerber’s accident protection isn’t life insurance but an accidental death and dismemberment policy. It pays out in case of accidental death or disabling injuries, helping with medical expenses and lost wages. Fixed coverage amounts range from $50,000 to $250,000, and no medical exam or health questionnaires are necessary if you’re between the ages of 18 and 69.

Gerber Life Insurance pricing

Gerber Life Insurance premiums are higher than its competitors in some cases. Your premium depends on several factors, including the type and amount of coverage you select, your age, smoking status and location. For child life insurance, factors include the child’s age, your age and the plan, term and coverage selected.

Gerber Life Insurance financial stability

Gerber Life is a member of the Western & Southern Financial Group. Gerber Life Insurance Company, its direct parent company, The Western and Southern Life Insurance Company, and Western-Southern Life Assurance Company are rated A+ (Superior) by the financial rating firm AM Best and have a stable financial outlook, which suggests they have a strong ability to meet their claims obligations.

Gerber Life Insurance accessibility

Gerber Life Insurance is accessible to people of various ages and health conditions. Gerber guaranteed acceptance policies are designed for people over 50 who may not qualify for coverage elsewhere. Many Gerber policies are available without medical exams.

Availability

Gerber Life Insurance policies are available nationwide, but product availability varies by state. To find out the cost and availability of products in your state, you can use the website’s online quote tool.

Contact information

Gerber provides multiple ways to get support Monday through Friday, from 8 a.m. to 7 p.m. EST. If you’re a new customer, you can apply on the website or by calling Gerber Life Insurance customer service.

Once you have a policy, you can get assistance with billing, death claims and cash-value loans. To cancel Gerber Life Insurance, call Gerber customer service or use the website’s contact form.

• Gerber Life Insurance phone number: 800-704-2180
• Gerber fax number: 231-928-3078

User experience

Gerber’s website is user-friendly and straightforward. You’ll find information about policies and coverage options and can obtain quick quotes. For quotes on coverage over $300,000, a phone call is necessary.

By creating a profile on Gerber's website, you can pay premiums, view policy documents, apply for a loan and change beneficiaries.

Gerber 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.

How we evaluated Gerber Life Insurance

To review Gerber Life Insurance, we examined the following:

• Policy offerings: We analyzed the life insurance products offered by Gerber.

• Pricing: We obtained sample insurance quotes to evaluate its affordability and competitiveness in the market.

• Financial stability: We reviewed Gerber’s financial strength and stability.

• Accessibility: We examined the company’s availability and limitations, as well as user experience.

• Customer satisfaction: We considered customer reviews to understand the overall satisfaction level of Gerber policyholders.

Summary of Money’s Gerber Life Insurance review

Gerber Life Insurance is a well-established, reputable provider offering a wide range of life insurance plans to cater to the needs of individuals and families. With its no medical exam policies, guaranteed acceptance options and child-focused plans, Gerber stands out in the market. However, with relatively low coverage amounts on most policies and few opportunities for customization, you should carefully compare options before applying.