Gerber Life Insurance Review

Gerber life insurance offers affordable long-term coverage for parents and their children. Additionally, term life insurance comes in a variety of various coverage levels. Gerber’s website is simple to navigate, and it takes less than five minutes to acquire a pricing quotation.

If you want to develop financial value for your child’s education, savings or a 529 plan may be a better option than no medical exam insurance. For additional information, here’s a Gerber Life Insurance Review.

Pros and Cons of Gerber Life Insurance

Pros

Gerber Life Insurance Review - Gerber Life Insurance Logo
  • Comparator is an easy-to-use tool for comparing internet quotations.
  • No medical checkups are necessary between the ages of 18 and 50.

Cons

  • Investments in high-yield savings accounts or 529 plans are better than other choices because they provide a greater rate of return.
  • Significantly more costly than adding a kid as a beneficiary to your life insurance policy.
  • Refusal to pay claims for AD&D insurance

Gerber Life insurance rates

The price of term life insurance for a healthy man and his wife valued at $500,000 was found in 2021 using Gerber’s online quote tool. Gerber is substantially more expensive for the same level of coverage and term length.

  • Age 20. Male $49.25, Female $36.75
  • Age 25. Male $51.75, Female $38.00
  • Age 30. Male $59.50, Female $46.25
  • Age 35. Male $67.00, Female $54.50
  • Age 40. Male $94.75, Female $72.75
  • Age 45. Male $122.25, Female $90.75
  • Age 50. Male $177.50, Female $127.00
  • Age 55. Male $227.75, Female $147.75
  • Age 60. Male $380.00, Female $230.00

Factors that affect Gerber Life insurance rates

Insurance firms frequently exclude information about their rating classes. Gerber’s lack of candor here implies the opposite.

Any of the following things might jeopardize your chances of obtaining reasonable rates:

  • Diabetes, cancer, heart disease, stroke, AIDS, and HIV have all been diagnosed in the last decade.
  • Drug usage has increased significantly during the last decade.
  • The height-weight connection
  • Systolic blood pressure in diabetics
  • Low HDL (the “good” cholesterol) levels in the blood
  • Consumption of tobacco or nicotine over the previous year
  • Recent felony or misdemeanor convictions

How to get a quote from Gerber Life insurance

Gerber life insurance may be reached toll-free at (800) 704-2180. The following steps will assist you in initiating the quotation procedure on the internet:

  1. To obtain an insurance quotation, please provide your zip code, age, gender, and email address. Click Request a Free Estimate for Your Project.
  2. You’ve highlighted some fascinating points. If you are pleased with your selection, please click “Apply Now”.
  3. While completing your personal information and medical history, you will be prompted to provide the names and contact information for your beneficiaries.
  4. After supplying the relevant bank account details, you may examine and e-sign your documents.
  5. Once authorized, you may utilize Gerber’s eServices to automate payments, make beneficiary changes, or just maintain your contact information.

Child life offers guaranteed insurability, but it isn’t the best investment

Children’s life insurance policies with college savings options may not provide the optimal level of protection. Savings accounts with a high rate of interest or a 529 plan may provide a higher rate of return than standard investments. While the majority of plans feature a child rider for children under the age of 25, you can continue to get benefits for your children until they reach that age. At that stage, individual plans may be conceivable. Consider getting a life insurance policy with a child rider to maximize your investment.

Parents frequently get a life insurance policy for their children to assure their protection. If your child develops a health condition that makes them ineligible for insurance in the future, your insurance will continue to cover them.

Gerber Life offers term and whole life

On the other hand, Gerber is well-known for its emphasis on whole life insurance coverage. Gerber also offers term life insurance.

  • Term life. Gerber’s life insurance plans cost between $15.42 and $300,000 per year, with coverage choices ranging from $25,000 to $300,000.
  • Whole life. Gerber’s whole life insurance plans are one-of-a-kind, offering up to $150,000 in cash value. To borrow against the cash value of your policy, you can take out an 8% loan. Several of its long-term aims include the following:
    • Gerber life grow-up plan. Children between the ages of 14 days and 14 years are covered up to $50,000 with guaranteed-for-life premiums. When you turn 18, your coverage rises by a factor of more than two.
    • Guaranteed life. A whole life insurance policy with assured acceptance for those aged 50 to 80, without the need for a medical check. There are coverage options ranging from $5,000 to $25,000.
    • Gerber Life college plan. Combining life insurance and college savings into a single policy with a guaranteed payment of $10,000 to $150,000 at policy maturity is possible. If the child is killed, the recipient receives the whole sum.
    • Young adult life. A $50,000 whole life insurance policy with a cash value builder for 15 to 17-year-olds. At the age of 18, your insurance coverage is doubled with no increase in premiums.

Does Gerber offer burial insurance?

Yes. Gerber’s guaranteed life insurance operates as a funeral policy for folks in their 50s to 80s. For as little as $5,000 to $25,000, your loved ones can use the funds to cover the cost of your burial and other last expenses.

Gerber life insurance riders

Gerber does not provide much information on other benefits, but does highlight a few intriguing ones, such as the potential of living debt-free.

  • Accelerated death benefit rider. If you are diagnosed with a terminal disease and receive this gratis add-on, you will receive up to 50% of your payment.
  • Guaranteed insurability rider. Your mature policy can be augmented with a “guaranteed buy option” that does not need a medical examination.
  • Riders profit from the payer. Payment protection can be added to your Gerber grow-up plan in the event that you die or become mentally incapacitated and are unable to pay your premiums.
  • Riders waive premiums. Even if you become incapacitated and are unable to pay your policy’s premiums while pregnant, you can continue your insurance coverage.

Gerber Life insurance reviews are mixed

According to TrustPilot evaluations, Gerber’s customer service representatives are the best. Customers may take comfort in Gerber’s A+ rating with the Better Business Bureau. However, keep a watch out for policy cancellations and claims that are delayed. AM The firm receives an A+.

For another insurance review, visit our review of Farmers Life Insurance Review.

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