Gerber Life Insurance: Everything You Need To Know

Shawn Plummer

CEO, The Annuity Expert

Do you have a family? If so, then you know that it’s essential to have life insurance. But what about Gerber’s life insurance? Is that something you should consider? This guide will discuss everything you need to know about Gerber life insurance. We will talk about the different policies they offer, the benefits of each policy, and how much coverage you can expect to receive. We will also discuss the cost of Gerber life insurance and how it compares to other types of life insurance. So if you’re considering purchasing a policy, read this guide!

Note: We are an independent licensed insurance agency representing Gerber Life Insurance Company (among 25 other life insurance companies) and provide a non-biased review of the products.

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About Gerber Life Insurance Company

The Gerber Products Company, well-known for its baby food and world-famous Gerber baby, launched Gerber Life Insurance Company in 1967 to offer life insurance to young families. Currently, Gerber Life has over $50 billion of life insurance in force. In 2019, Gerber Life Insurance Company sold 283,000 new life insurance policies.

For over 50 years, Gerber Life has provided budget-friendly life insurance so that children and adults can have more excellent financial protection. Today, Gerber life is trusted by millions of families. In December 2021, we were again awarded a rating of “A” (Excellent) by A.M. Best.

Gerber Life Insurance Company offers term, whole, accidental death, and guaranteed issue policies. They specialize in insurance for young children. This means they offer protection for your child in case something unexpected happens, or you want to save money for their future.

You may not know that Gerber designs life insurance for all family members. Examples include:

Pros And Cons

  • You may not need a medical exam for some whole life insurance or term life policies.
  • Policies available will guarantee you coverage, no matter your health history.
  • You can get discounts on some plans if you sign up for automatic payments.
  • Low coverage limits compared to other life insurance companies
  • Expensive premium rates
  • Some plans are not available in all states

Gerber Life Insurance Plans

Gerber’s life insurance policies are designed for both children and adults. These policies include whole life, term life, accidental death, and guaranteed issue policies.

Gerber Life Insurance Company has life insurance for children of all ages. In addition, it has options for parents who want to save for their children’s college education. There are seven different plans to choose from.

Any outstanding loans will reduce the cash value and death benefit. The policy loan interest rate is 8%.

Accident Protection

Between 18 and 69, you may apply for accident protection insurance from Gerber Life Insurance Company. This will provide coverage if you die or become disabled in an accident. You don’t need a physical exam to get the insurance, and your approval is guaranteed. You can apply online, and your coverage will begin as soon as you make your first premium payment.

Accident protection insurance is available in all states.

Guaranteed Life

You can qualify for guaranteed life insurance if you are between 50 and 80 years old. You can get $5,000 to $25,000 of whole life insurance, and your acceptance is guaranteed. In South Dakota, the maximum amount of coverage you can get is $15,000. There are no medical exams or health questions to answer.

Some of your monthly premiums are set aside to be saved. This money is called the cash value of your policy. Over time, this value can grow. Then, if you need the money, you can borrow it.

Guaranteed Life policies are $25,000. Gerber Life Insurance Company will not issue insurance for any proposed insured when a POA or Guardianship exists on the proposed insured, except legal guardians of children. South Dakota residents, maximum coverage of $15,000.

Term Life Plan

Gerber’s term life insurance provides coverage for a period, such as 10, 20, 30, or even 40 years, for applicants ages 18 to 70. Your beneficiaries will get the death benefit if you die during that time. Term life policies are usually more affordable than other types of life insurance. Your premium rate is locked in for the duration of the policy as long as premium payments are made on time.

Gerber’s term insurance offers up to $300,000 of coverage. In most cases, you don’t need to have a medical exam. However, if you are over 51 and apply for more than $100,000 coverage, you will need a physical exam.

Whole Life

Whole life insurance policies are permanent life insurance that lasts until you die. Gerber’s whole life insurance offers $25,000 to $1,000,000 coverage for adults between 18 and 70 years old (age 50 and above coverage starts at $101,000). In addition, your policy may gain cash value over time, and you can borrow against the policy to cover unexpected expenses or supplement your retirement income.

No medical exam is necessary in most cases. However, coverage depends on answers to health questions, and a physical is necessary for cause and for applicants age 51 or older or who apply for more than $300,000 of coverage.

Life Insurance for Children 

Gerber Life Insurance Company is known for its life insurance policies for children. It has three different plans:

  • Children Grow-Up Plan: The Grow-Up Plan provides whole life coverage ($5,000 to $50,000) for your child or grandchild from 14 days to 14 years. The coverage amount doubles when the child turns 18, so $50,000 becomes $100,000 at no additional cost. You are the policy owner of the plan until the child turns 21. After that, the child is the policy owner, and they can choose to continue paying premiums or surrender the policy for its accumulated cash value.
  • Gerber Life Young Adult Plan: The Young Adult Life Insurance Plan is for teens between 15 and 17 years old. It is a permanent whole-life policy that lasts the rest of your life. If the child turns 18, the value of the policy doubles. With this plan, you can get $5,000 to $15,000 worth of coverage. You are the policyholder until the child turns 21 years old.
  • Gerber Life Insurance College Plan: The Gerber Life Insurance College Plan is an endowment life insurance policy that helps you save for college. If you pay your premiums, you will get a guaranteed payment of $10,000 to $150,000. If something happens to you, your beneficiary will receive the total amount of your policy. Read more about various college savings plans to know your options.

Gerber Life Insurance Riders

Some insurance companies let you add riders, or extra coverage, to your policy. This lets you customize your policy to fit your needs. For example, you may be able to add coverage for additional family members or get access to your death benefits early if certain conditions are met.

Gerber Life Insurance Company offers several rider options:

  • Whole life has Accelerated Death Benefit and Disability Rider
  • Simplified Senior Life has Accelerated Death Benefit
  • Grow Up has a guaranteed purchase option and Payment protection option
  • Gerber Life College Plan has an additional policy rider

The Grow-Up Plan rider is a life insurance policy that your child can use to buy more coverage when they turn 21. This rider is included with your policy at no additional cost. In addition, your child can get this coverage without having to take a medical exam.

Your child has 90 days after turning 21 to buy life insurance. After that, they can buy up to 10 times the original coverage amount, up to a maximum of $100,000 in insurance.

Customer Service

Policyowners can contact Gerber directly by phone or online. The customer service phone number is 800-253-3074, and their website is www.gerberlife.com.

Complaints

Every year, the National Association of Insurance Commissioners (NAIC) releases a report that shows how many complaints they received about different companies. This number is called a complaint ratio. It tells you how many complaints the NAIC received for every 100,000 people who bought insurance from that company.

Gerber Life Insurance provides good customer service.

The NAIC set 1.0 as the industry standard. A complaint ratio below 1.0 is better-than-average, while a ratio above 1.0 is worse-than-average. Gerber Life Insurance Company’s complaint ratio for 2020 was 0.40, which is better than the industry standard.

Financial Strength

AM Best is the credit rating agency that issues ratings on how financially strong companies are. The ratings show how likely companies are to meet their financial, contractual, and policy obligations. A high rating means that a company is in good financial shape and likely to be able to pay out claims if they need to.

For over 50 years, Gerber Life has provided budget-friendly life insurance so that children and adults can have greater financial protection. Today, Gerber life is trusted by millions of families. In December 2021, we were again awarded a rating of “A” (Excellent) by A.M. Best.

Gerber was not included in the J.D. Power 2020 U.S. Life Insurance Study. The study ranked 23 major life insurance companies based on their product offerings, prices, and customer interactions.

The Cost Of Gerber Life Insurance

Gerber Life offers life insurance products designed for young families with children. Gerber Life may be a good option if you are looking for coverage that can help protect your children and save money for their college education.

However, Gerber Life’s policies may be more expensive than other life insurance companies policies. Additionally, the coverage limits are relatively low. With a maximum coverage of just $300,000, a Gerber Life policy will probably not be enough to fully provide for your family’s needs if you pass away.

Consider American General Life Insurance (AIG) if you want a life insurance policy with a high coverage amount. They offer term, whole, and universal life policies, as well as multiple riders, so that you can choose the best coverage. For example, they have a chronic care rider and a living benefit rider.

Gerber Life Insurance

AgeAmountPolicyFemaleMale
35$300,00020-Year Term$54.50$67.00
45$300,00020-Year Term$90.75$122.25
55$300,00020-Year Term$147.75$227.75
65$300,00020-Year Term$257.75$385.25
Disclosure: These are sample rates for illustrative purposes. Rates can change at any time.

The Competition

AgeAmountPolicyFemaleMale
35$300,00020-Year Term$13.96$16.05
45$300,00020-Year Term$29.60$33.09
55$300,00020-Year Term$66.03$79.09
65$300,00020-Year Term$207.47$283.18
Disclosure: These are sample rates for illustrative purposes. Rates can change at any time.

Before Buying Life Insurance

Gerber Life Insurance

Before comparing companies, decide the type of policy you want. Calculate how much coverage you’ll require and how long your coverage should last. Ensure that the insurers you’re looking at offer the coverage you need. When comparing competitive rates, ensure you’re getting quotes for the same amount of coverage. Also, double-check that the policy’s medical criteria are appropriate for you.

To purchase life insurance, compare quotes from multiple companies. The research is just like when you are shopping for car insurance. You want to find the policy with the cheapest rates. That’s because the insurance is mainly for death benefit planning. Make sure to purchase life insurance from a company with an A.M. Best rating of “A-” or better.

You can get a significantly cheaper rate for life insurance for final expenses or whatever else if you shop around. In addition, you can almost certainly acquire coverage with no waiting period.

The most significant disadvantage of Gerber is that coverage is limited and expensive. However, if you work with an independent agency, you can save up to 70% on your life insurance.

When you contact a representative, they cannot go through other insurance providers to show you one that can provide you with a better price. Instead, an independent licensed insurance agent such as The Annuity Expert will search the market for you to determine which insurance carrier offers the best rate and coverage for your specific needs.

Final Thoughts

Gerber Life is a good option for life insurance coverage if you are younger than 51 and do not want to take a medical exam. However, its coverage amounts are not as high as some other companies, so be sure to shop around. Additionally, Gerber Life premiums are more expensive than rates at other insurers. If you are willing to go through a medical exam, you may be able to find better rates and coverage elsewhere. So, before deciding on Gerber Life, make sure to compare all of your options. Ready to apply for Gerber life insurance? Inquire below!

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Need Help Getting Life Insurance Coverage?

If you have a preexisting medical condition and want to buy life insurance, you will need help from an expert. This person can help ensure you get coverage, so you don’t get declined.

Warning: Applying for life insurance without a medical exam can be risky. If you get declined coverage, it could be at least two years before you can get any life insurance.

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Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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