Gerber Life Insurance summary
- Child policies automatically double in value at age 18
- Policies up to $25,000 with no medical check for ages 50-80
- Limited customization options
- Guaranteed life payouts capped at $15,000 in South Dakota
Offers both term and whole life insurance with no medical exams required.
Customization of policies
Customizable rates and deductibles, upgrades and downgrades available, decide whether to buy with an agent or buy online
Customer services and support
Multiple communication options, ability to speak to an agent
Online fast application, learning resources, access to rates before application
Yes, direct insurer
Gerber Life Whole Life Insurance at a Glance
|Customization of policies|
|Customer services and support|
Who Can Benefit From Gerber Life Whole Life Insurance?
While Gerber Life offers coverage for adults of all ages, some of its best deals on life insurance are for children and seniors. If you are 50 to 80 years of age, you can get a policy of up to $25,000 in minutes with no medical requirements and guaranteed approval, making it easy and beneficial for seniors.
Meanwhile, if you’re the guardian of children under 15, you can take out policies for them that will cover them both as minors and later in life. This makes planning early for your child’s future especially beneficial.
Gerber Life’s policies are simple, with no bells and whistles. After you’re approved, your insurance premium will remain fixed for the duration of the insured’s life.
A small portion of each payment will go towards building up a cash value, which you or your child will eventually be able to borrow against if needed. Instead of requiring regular payments, the entire balance of the loan, including principal and interest, will be deducted from the final death benefit. The loan interest rate is 8% per year, so this can substantially reduce the benefit amount to your loved ones upon your passing.
The application process takes about five minutes in most cases and can be done entirely online. Or, you can also choose to complete your application over the phone by dialing 800-425-7542 between 8AM and 9PM EST Monday-Thursday, 8AM-7PM on Friday, or 9AM-5PM on Saturday.
To complete your application, answer some basic questions to get an anonymous quote. If you are satisfied with the quote, proceed to fill in your personal information.
Apart from the payout amount, there are no customizable options. Simply choose the amount and input your payment information to finalize the application. Guaranteed applications are always approved, while Grow-Up policies are usually approved or declined within 5 minutes.
Policy Types and Terms
Gerber Life Guaranteed Life
Seniors can get a Gerber Life Guaranteed Life policy of up to $25,000 in minutes with no medical requirements. Approval is guaranteed, coverage lasts the duration of your life, and the monthly payment will never change.
Every payment contributes to a cash value, which you can later borrow against. Unused cash value will be added to the death benefit and paid out to your beneficiaries at the time of your passing.
- Payout range: $5000-$25,000
- Requirements: You are between 50 and 80 years old.
Gerber Life Grow-Up® Plan
This plan enables guardians and grandparents to take out policies of up to up to $50,000 on children under 15. When the child reaches age 18, the death benefit amount of the policy doubles, so a $50,000 policy turns into $100,000 with no change in your monthly payment.
At age 21, your child becomes responsible for paying the premiums, but they remain unchanged. Your child can also buy more coverage at this time without having to qualify based on occupation or health.
- Payout range: $5000-$25,000
- Requirements: You are the parent, grandparent, or legal guardian of a child under the age of 15.
- Applications for children with preexisting medical conditions may be subject to medical underwriting.
How Safe Is It?
Gerber Life indicates that all transactions and communications made through their e-service portal are secure. However, it does not mention any further information in this regard. If you suspect that you are a victim of fraud, you can contact Gerber Life at 800-253-3074 or send a letter to the Gerber Special Investigative Unit at:
Gerber Life Insurance Company
Special Investigative Unit
445 State Street
Fremont MI 49412
Help & Support
You can contact the Gerber Life customer support team at 800-704-2180 between the hours of 8AM to 7PM ET Monday to Friday or between 9AM and 5PM on Saturday. You can also email the support team using a web form or send them a fax at 231-928-3078.
Gerber Life’s site has a robust FAQ and well-written comprehensive learning articles on many insurance-related subjects.
If you want to set up benefits for your children or simply set something aside for your loved ones in your old age, Gerber Life’s innovative life insurance products can help you do just that.
If you are between 50 to 80 years of age, Gerber Life’s Guaranteed Life Insurance is a great way to set something aside for your loved ones. The application process is very user-friendly, and you will usually get approval within five minutes. Approval is guaranteed, and payments remain fixed for life. Gerber Life’s Grow-Up® Plan, on the other hand, is an excellent way to invest in your child or grandchild’s future for just pennies a day.