Gerber Life offers life insurance for a range of ages, from infants to seniors. The company offers a few life insurance policy options, including term, whole and guaranteed life insurance. Gerber Life Insurance even offers unique coverage options for parents interested in saving for their children’s college education in the future while providing life insurance for their beneficiaries. Because of the coverage offered by Gerber and the wide range of ages it insures, Gerber Life Insurance may be a good fit for those interested in a life insurance policy.
|Applicants may qualify without a medical exam||Product availability varies by state|
|Wide age-range covered||Not ranked in the 2021 J.D. Power Individual Life Insurance Study|
|Offers term, permanent and accident protection insurance||No universal life policy option|
|Excellent financial strength ratings by AM Best||No mobile app and limited online policy management|
Gerber Life’s life insurance plans are designed to provide life insurance coverage for all stages of life, which means it may be one of the best life insurance companies for families. Gerber Life life insurance offerings include term, whole life, guaranteed issue whole life policies, plus accidental death insurance. Life insurance policies are available for ages from newborns to seniors, and many may qualify for coverage without a medical exam.
The Gerber Products Company – well-known for Gerber baby food products – founded Gerber Life in 1967. Gerber Life offers children’s life insurance with its Grow-Up Plan. Parents can obtain financial protection for their children and finance their college education or early adult dreams with the Gerber Life College Plan. This Gerber Life life insurance review highlights the unique plans offered by this insurer and how to qualify for them.
Gerber Life insurance coverage types
Gerber Life offers various types of life insurance: term, whole life for children and adults, and guaranteed issue whole life for seniors. You can get a life insurance quote online or by calling Gerber Life. The Gerber Life Insurance Company underwrites its policies.
- Term life insurance: The Gerber Life term life insurance policy offers coverage for 10, 20 or 30 years. Adults up to 70 can apply for $100,000 to $300,000 in term life insurance coverage. After answering a few health questions on the application, applicants may qualify immediately, although some may have to complete a medical exam. The term life insurance policies come with one rider option, the child life insurance rider.
- Permanent life insurance: Unlike term life, whole life is meant to last a lifetime. The Gerber Grow-Up Plan can be obtained for children between 14 days old and 14 years old. The policy builds cash value, and once the child reaches 18, coverage doubles, and the child becomes the policyholder. Policy owners can purchase the guaranteed insurability rider, allowing them to buy more life insurance for the child at certain ages without proving insurability. Adults aged 18 to 70 can apply for $50,000 to $300,000 in whole life insurance, which also builds cash value over time. While a medical exam is usually not required, applicants may be required to take one in some cases.
- Guaranteed life insurance: For seniors between 50 and 80, Gerber Life offers guaranteed issue whole life insurance, which includes a cash value savings account. Seniors may qualify for between $5,000 and $25,000 in life insurance without health questions or a medical exam. Paying monthly premiums through Easy Pay automatic debit can save you up to 8%, and coverage begins as soon as the application is approved. This policy comes with a graded death benefit, so if you die in the first two years of a non-accidental death, your beneficiary receives the premiums paid, plus 10% interest.
Gerber Life services
The Gerber Life College Plan stands out from competitors as a combined adult life insurance plan for the parent and savings plan for a child. The policy will either pay out the death benefit of up to $150,000 if the parent dies during the term, or it pays out at term maturity, which the child can then use for college expenses or any other expenses.
For parents who are risk-averse or are more comfortable with guaranteed growth, the Gerber Life College Plan may be a good option. The policy provides 10- or 20-year term life insurance for the parent, which will pay out if the parent passes away during the term. But if the policy reaches maturity, the money is provided to the child in a lump sum. Though it can be used for education, there is no limit to what the money can be used for, which may make it more flexible than a 529 college savings plan.
Other Gerber Life perks worth considering
In addition to a variety of life insurance options, Gerber Life Insurance offers accident protection coverage, which may offer additional coverage if an accidental injury or death occurs.
- Accident Protection Insurance: Accident insurance for disabling injuries or death is available for adults between 18 and 69, without a medical exam requirement or health questions to qualify. You and your spouse can apply for $50,000 to $250,000, or up to $500,000 combined coverage with on- and off-the-job 24-hour protection.
Gerber Life insurance customer and claims satisfaction
Gerber Life has an A (Excellent) financial stability rating with AM Best, showing the life insurer has historically paid out claims and satisfied its financial obligations. The company also has a lower-than-average National Association of Insurance Commissioners (NAIC) index. This rating index compared life insurers’ and competitors’ performance. With an average index of 1.00, Gerber Life’s index of 0.40 shows it has much fewer complaints than other life insurers.
Gerber Life social responsibility
Gerber Life Insurance Company is part of the Western & Southern Financial Group. Based in Cincinnati, Ohio, Western & Southern focus much of their social impact efforts locally. In the last five years, Western & Southern has supported over 300 nonprofits and organizations with more than $55 million in donations and sponsorships.
Major sponsorships have been made to the following local charities and organizations:
- Open Cincinnati to support local businesses
- Freestore Foodbank
- Ride Cincinnati to raise money for cancer research
- Cincinnati Zoo & Botanical Garden
- Crib of the Nativity to raise money for The Salvation Army
- The annual Thanksgiving Day Race to raise money for local charities like Barrett Cancer Center
Associates also donate time and money to support local causes. Over $900,000 was donated to United Way in 2020 and $212,000 for the local arts. The Western & Southern associates were also the largest Walk MS team nationwide, with 901 people attending and walking for the cause.
Not sure if Gerber Life is right for you? Consider these alternatives
- AIG: Another life insurance option, American International Group, Inc. (AIG), offers term and permanent coverage with great policy options, including guaranteed issue whole life insurance for seniors.
- Mutual of Omaha: Like Gerber Life, Mutual of Omaha offers term and permanent life insurance for all age groups, including accident protection insurance.
- State Farm: State Farm offers term and permanent life, winning the 2022 Bankrate Awards and placing first in the 2021 J.D. Power Individual Life Insurance Study.