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Gerber Life insurance review 2023

Updated Jan 13, 2023
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Bottom Line

Policyholders who need term, whole or guaranteed life insurance and parents looking for a unique way to save for their child’s future might find Gerber Life Insurance as their company of choice.

Pros
  • AM Best financial strength rating of A (Excellent)

  • Wide age-range covered

Cons
  • Product availability varies by state

  • No universal life option

Info
What’s new with Gerber Life?

Gerber Life is now partnered with the company Fabric to offer term life insurance for families who prefer a digital experience.

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Gerber Life life insurance

Gerber Life Insurance may be a good choice for term, whole and guaranteed policies, and for parents looking to set aside money for their children’s college education, according to Bankrate’s analysis of the provider. Depending on how much life insurance you need, Gerber Life Insurance may be a good fit for infants and seniors alike.

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 and accidental death insurance. Life insurance policies are available for a wide range of 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 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.

Additionally, Gerber Life Insurance announced a partnership with Fabric to offer simple term life insurance for policyholders who prefer a digital experience. Fabric by Gerber Life policies are written by Gerber Life’s parent company, Western-Southern Life Assurance Company, which is owned by Gerber Life Insurance’s parent company, Western & Southern Mutual Holding Company.

Term: Term life insurance may be optimal for those who only need coverage for a certain period of time. For example, a parent might purchase a 20-year term policy when their child is born. As long as the parent pays their premium payments, the life insurance policy will be active while the child grows up. This way, the policyholder knows they may provide some financial security for their child if they pass away during the policy term. Once you know how long of a term you need, you may want to use a life insurance calculator to help you determine how much coverage you should purchase.

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: Permanent life insurance is a broad name for a few types of life insurance policies, including whole life insurance, universal life, indexed universal life and variable universal life. Unlike term life, permanent life insurance is meant to last a lifetime rather than a predetermined amount of time. It also differs from term life in that it has the potential to grow in value over time. Because of this, permanent life insurance may be a good option for those looking to use their life insurance policy as an investment vehicle. However, permanent life insurance is usually more expensive than term, and there may be caps on how much your policy can grow in value.

Gerber’s whole life policy, 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. The Gerber Grow-Up Plan automatically includes a guaranteed insurability rider, allowing parents 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.

Gerber Life Insurance does not offer universal life, which means that indexed universal and variable universal are also unavailable.

Guaranteed: Anyone who qualifies for this type of policy and applies is guaranteed approval, hence the name guaranteed life insurance. A guaranteed life insurance policy could be a good choice for people who are 50 or older, or for applicants that have trouble getting approved for other types of life insurance due to age, health or other factors. Guaranteed life does not require a medical exam, and if the carrier does require a health questionnaire, it may be less comprehensive than the health questionnaires for other types of life insurance. Guaranteed life is a type of whole life policy, and it can build cash value over time from which you can borrow.

For seniors between the ages of 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 may 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 in a non-accidental death, your beneficiary receives the premiums paid, plus 10% interest.

Pros and cons of Gerber Life life insurance

PROS

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    Term life does not require a medical exam for those under 51 years old who are seeking less than $100,000 in coverage

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    For many applicants, the company boasts a policy approval time of about a minute

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    Life insurance for children and seniors offered

CONS

  • Close X

    Policyholders who prefer a digital experience may want to choose Fabric by Gerber Life, which only offers term policies

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    No universal policies available

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    Not included in the J.D. Power 2022 U.S. Individual Life Insurance Study

Gerber Life life insurance endorsements

Child life insurance rider: Adding a child life insurance rider to your existing Gerber Life term life insurance policy will provide life insurance coverage for your child for the duration of your policy. This can be an attractive option for those on a budget, as this rider may cost less than purchasing a separate whole life policy for your child.

Guaranteed insurability rider: The Gerber Life Grow-Up Plan includes a guaranteed insurability rider at no additional cost. This rider allows the policyholder to increase their life insurance coverage at certain ages or after certain life events (like marriage or childbirth), regardless of their medical history or risk factors.

For instance, let’s say that you purchased a Gerber Life Grow-Up Plan for your child when they were two months old. When your child turns 21, the insurance policy automatically transfers from your name into theirs. At that point, they have the option of increasing their coverage limit, with guaranteed acceptance and no medical exam. This is because of the guaranteed insurability rider attached to the Gerber Life Grow-Up Plan.

Gerber Life life tools and benefits

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.

Gerber Life customer satisfaction

Regarding the NAIC complaint index, the Gerber Life company as a whole fares well, receiving fewer complaints than average, with a score of 0.70. However, Gerber Life falls short in its individual life product, with an index score of 2.04. This data means the company gets more than twice the number of complaints about its individual life insurance offerings.

For financial strength, Gerber Life has an A (Excellent) rating with AM Best, showing that the life insurer has historically paid out claims and satisfied its financial obligations.

J.D. Power did not include Gerber Life in its 2022 U.S. Individual Life Insurance Study. This missing metric, coupled with Gerber Life’s above-baseline complaint index score regarding individual life, means that those with customer service at top-of-mind may want to do further research on the Gerber Life policyholder experience.

How to file a claim with Gerber Life

Filing a life insurance claim is typically a straightforward process. Gerber Life will ask for the policyholder’s name and the date they passed away. The company may also require you to send supporting documentation, such as a death certificate.

When you’re ready, you can file a claim with Gerber Life by calling 1-800-628-0560. The claims department is open Monday through Friday, from 8 a.m. to 7 p.m. ET. When you call, Gerber Life will send you a claims form. Once completed, you can mail it to:

  • Gerber Life Insurance Company
    Life Claims Processing Unit
    445 State Street
    Fremont, MI 49412

Gerber Life availability

Gerber Life life insurance is available in all 50 states and Washington, D.C. However, not all policies are offered in all states. If you’d like to know if a specific policy is available where you live, you may want to email Gerber Life’s customer service department. The company states that a representative will answer your question within 24 hours.

Other Gerber Life perks worth considering

In addition to a variety of life insurance options, Gerber Life Insurance offers a few other perks that you may want to consider when comparing life insurance quotes, including:

  • Accident protection insurance: Accident insurance for disabling injuries or death is available for adults between 18 and 69, and it does not require you to complete a medical exam or health questions to qualify. You and your spouse can apply for $50,000 to $250,000, or up to $500,000 combined, in coverage with on- and off-the-job 24-hour protection.
  • Life insurance learning hub: Life insurance can be difficult to navigate, but Gerber Life’s life insurance learning hub may help make it easier with its easily digestible articles regarding life insurance topics.

Gerber Life corporate sustainability

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. In 2021, over $1.3 million was donated to United Way and $300,000 for the local arts. The Western & Southern associates were also the largest Ride Cincinnati corporate team nationwide, with 192 cyclists participating which resulted in fundraising $152,000.

Not sure if Gerber Life is right for you?

If, after reading this Gerber Life Insurance review, you still aren’t sure if this company is a good fit, you may want to consider requesting quotes from the companies below:

Gerber Life vs. 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.

Learn more: AIG Insurance review

Gerber Life vs. Mutual of Omaha

Like Gerber Life, Mutual of Omaha offers term and permanent life insurance for all age groups, including accident protection insurance. It also offers universal life insurance, whereas Gerber Life does not.

Learn more: Mutual of Omaha Insurance review

Gerber Life vs. State Farm

State Farm won our 2023 Bankrate Award for best term life insurance company, thanks in part to its customer satisfaction and coverage options. It also earned the number one spot for overall customer satisfaction in the J.D. Power 2022 U.S. Individual Life Insurance Study. This company could be excellent for policyholders who value top-notch customer service.

Learn more: State Farm Insurance review

Is Gerber Life a good insurance company?

With licensed insurance agents on staff, Bankrate takes pride in providing accurate, relevant information to help you make educated decisions regarding your insurance needs — that’s why we’ve used our expert lens to review more than 100 insurance companies.

Based on our extensive Gerber Life insurance review, this company might be a good option, but it depends on your needs. Suppose you are a parent looking for a unique way to invest in your child’s college education. In that case, you may want to explore the Gerber Life Insurance College Plan. Additionally, Gerber Life’s Grow-Up Plan may be an easy way to secure your child (or grandchild) a children’s life insurance policy. However, if you want to purchase universal life insurance, you must shop elsewhere since Gerber Life doesn’t offer this type of policy. In the end, the best way to find out if Gerber Life is a good fit for you may be to request a quote.

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