Gerber Life Insurance Reviews – Can You Do Better?

gerber life insurance reviews

You got to give it to Gerber life.  They have a great marketing team. However, is Gerber Life insurance worth it? We will cover Gerber Life’s credit rating, the Gerber Life company history, and their unique life insurance products.

We are constantly evaluating all the life insurance companies operating in the United States to see competitive advantages they have.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

Gerber Life Insurance will even be one of the options for the rates displayed that you can view depending on the parameters and coverage amount you are searching for.

You can do this easily by using our rate engine directly below.

Gerber Life Insurance Company does have some unique products that you cannot find anywhere else. If you are considering purchasing life insurance with Gerber Life Insurance, do not move forward without reading this review.

Gerber Life Insurance History

The Gerber Life Insurance Company has been protecting children and family with life insurance since 1967.  Gerber Life Insurance Company is located in Fremont, MI and is a financially separate affiliate of the Gerber Products Company. Yes, you read that correctly the baby food company with the iconic baby on the jar.

Just as their affiliated baby products company help parents feed their children, Gerber Life provides financial security for families nationwide. The Gerber companies share the common goal, “to help parents raise happy, healthy children.”

Gerber Life Insurance has over $45 billion of life insurance in force through over 3.3 million policies!  While Gerber Life is often associated with children, many are surprised to learn that adults can get Gerber life insurance as well. Today, Gerber offers a life insurance solution for just about every age and stage of life.

The Gerber Life Insurance Company Credit Rating

AA +

Good Life Protections Grade Report of Phoenix Life Insurance Company
Gerber Life Insurance Company and Overall Product Grade Report

Gerber Life is rated an “A” (Excellent) by A.M. Best.  A is an investment grade rating.  Gerber Life can be viewed as being in excellent financial health with the ability to meet its ongoing life insurance obligations.

Gerber Life’s A.M Best rating relates only to the overall financial standing of the Gerber Life Insurance Company and is not a recommendation of specific policy provisions, rates or company practices. The “A” rating is the third highest out of the thirteen possible categories.

Gerber Life Insurance Company not accredited by the BBB, but has received a rating of A+, which is their top rating.  While every business has complaints, Gerber Life has done an excellent job at keeping them few and far between.

Gerber Life Insurance Solutions

Gerber Life offers term life insurance, whole life insurance, and accidental death insurance for people of all ages, but no universal life insurance options surprisingly.  Many people associate Gerber life insurance with children due to its iconic branding.  However, Gerber life insurance can be good for adults as well.

Gerber Life Term Life Insurance

Term life insurance is a cost-effective way of securing temporary death benefits at high amounts.  Gerber Life’s term insurance is an affordable solution for replacing your income or covering your mortgage.  Also, Gerber life insurance can provide dollars for college expenses if you pass away prematurely before reaching your savings goal.

Gerber Life offers term life insurance in 10-year, 20-year, and 30-year term options.  Your monthly premium is guaranteed to remain fixed for whichever term period you select.  Oddly, Gerber Life does not offer a 15-year term option. Additionally, there is no savings component or cash value associated with Gerber term life insurance.

Gerber Life offers term coverage from $100,000 to $300,000 without the hassle of a medical exam in many cases.  Not only does Gerber Life offer no-exam term life insurance, but some can even get an instant decision on their term life insurance application within minutes of applying.

Gerber Life Whole Life Insurance

Gerber Life whole life insurance is a form of permanent life insurance. Whole life insurance is designed for permanent life insurance needs like final expenses and burial costs or estate planning.  Gerber Life Insurance also offers an endowment contract that can be used for college planning.

Whole life insurance provides lifelong death benefit protection with the most guarantees of any life insurance policy.  Gerber whole life insurance policies have guaranteed cash value accumulation, guaranteed level premiums, and guaranteed death benefits.

Gerber Life Whole Life Insurance Snapshot

  • Guaranteed Premiums
  • Guaranteed Cash Values
  • Guaranteed Lifetime Death Benefit
  • No Medical Exam for Qualified Applicants
  • No Dividend Payment

Unfortunately, none of Gerber Life Insurance’s whole life policies pay dividends, which can limit the cash value growth. Gerbers whole life cash value grows tax-deferred and can be accessed through tax-advantaged loans in a pinch.

You can cash out a Gerber Life Insurance whole life policy if you no longer want or need the coverage as well.  You will receive the cash surrender value upon surrendering your Gerber Life Insurance.  However, there may be tax implications to surrendering a life insurance policy so you may want to consult a tax advisor beforehand.

Gerber whole life offers no-exam coverage for up to $300,000 in death benefits for many applicants.  Adults ages 18-70 can apply for Gerber Whole Life Insurance

Gerber Life Grow-Up Plan

The Gerber Life Grow-Up Plan is merely a whole life insurance policy that is marketed towards covering your children.  That’s it.  The Gerber Life Grow-Up Plan the same guarantees that all whole life policies have, guaranteed lifetime death benefits, guaranteed tax-deferred cash value accumulation, and guaranteed level premiums.

A child’s parent, grandparent or permanent legal guardian may apply for the Grow-Up Plan. The applicant will be the owner of the policy until the child reaches age 21.  At that point, the policy transfers ownership to the now-grown child.

You can purchase a Gerber Grow-Up Plan once your child is 14-days old until they are 14-years old.  Gerber also offers a version of the Grow-Up Plan for young adults age 15-17.  Once your child turns 18, they would need to purchase an individual adult policy at that point.

The Gerber Grow-Up Plan offers lifetime death benefits from $5,000 to $50,000 with no medical exam in many cases.  The Gerber Life Grow-Up plan has one unique feature where the death benefit doubles on your child’s 18th birthday at no additional cost. When your child turns 21, they can decide if they want to cash out their Gerber Life insurance policy or keep their Gerber Life Grow-Up plan at their childhood premiums.

So is the Gerber Life Grow-Up Plan good or bad?  That depends on if you believe in having life insurance on your children. No one can ever envision something terrible happening to their child, but the unthinkable can and does sadly occur. Parents who purchase life insurance on their children usually share the following motivations:

Top Reasons Why Parents Purchase Life Insurance on Their Children

  • Concern that their child won’t qualify for life insurance as an adult
  • Concern that their child won’t afford life insurance as an adult
  • A desire to aid their child financially in the future
  • Peace of mind for the unthinkable
  • To cover final expenses and burial costs

The Gerber Life College Plan

The Gerber College Plan is an endowment contract. The primary purpose of the Gerber College Plan is to build cash value for a long-term savings goal, like college.  The cash value grows in the policy and is paid out when it equals the death benefit in either 10 or 20 years. Additionally, the plan provides a death benefit if the insured dies before the endowment matures.

Endowment contracts used to be popular savings vehicles, but this type of life insurance is rarely used anymore due to tax-law changes in the 1980s.  However, Gerber Life still offers one marketed as a college savings solution.

You can use this Gerber Life insurance to pay for college expenses or to pay for anything really. This offers some flexibility compared to other college savings accounts, like 529 plans, that lose their tax advantages if spent on non-college expenses.

So is Gerber Life Insurance a good investment?  That depends on your risk tolerance. The Gerber College Plan is not affected by swings in the stock market. That being said, you do pay for that security in the form of lower returns relative to other college savings options.

The Gerber Life College Plan Pros vs. Cons

Gerber College Plan Pros

  • Predictable – guaranteed payment when the policy reaches maturity
  • Safe – No investment risk to principal
  • Flexibility – money can be used for anything
  • Simplicity – life insurance included

Gerber College Plan Cons

  • Potentially a low rate of return versus other college savings options
  • High monthly premiums compared to other life insurance options
  • Cash payout is taxable

So is the Gerber College Plan worth with? In unique circumstances possibly, but most people would likely be better served purchasing a more affordable term life insurance policy to cover their children’s college expense and save in a dedicated college savings account, like a 529 plan.

Gerber Life Guaranteed Life Insurance

Gerber Life has an insurance solution for just about every age and situation. The Gerber Life Guaranteed Life Insurance is a guaranteed-issue whole life policy.

These types of policies are designed to provide life insurance protection regardless of your health or lifestyle.  Gerber’s Guaranteed Life is a popular option to cover funeral costs and other final expenses.

In order to qualify for Gerber Guaranteed Life Insurance, you need to be between the ages of 50 and 80-years old.  You read that right. You cannot be denied for this Gerber’s Guaranteed Life.  Gerber will not ask you a single health question, and there is no medical exam.

Instead of medical underwriting, Gerber issues this policy with a modified death benefit. The way the Gerber Guaranteed Life policy works is that accidental deaths receive the full death benefit at any time during the policy.

During the first 24 months, medically-related deaths receive a return of all premiums paid plus 10% as the death benefit.  In month 25 and beyond, the full death benefit is paid for both medically-related and accidental deaths.

You can choose death benefits ranging from $5,000 to $25,000.  The Gerber Guaranteed Life whole life policy also has guaranteed death benefits, guaranteed level premiums, and guaranteed cash value accumulation.  The cash value grows tax-deferred and can be accessed in a pinch through tax-advantaged loans.

Gerber Life Accident Protection

What is accident protection insurance? Accident protection insurance pays your loved ones a lump-sum death benefit if you or your spouse in the event of accidental death or you experience a covered disabling injury from an accident as well.

Gerber’s Accident Protection have level premiums guaranteed never to go up due to your age or health. Gerber makes accident protection available from the ages 19 to 69. There is no medical exam to apply, and you can purchase between $20,000 to $100,000 of benefit.

Accidental death coverage can be useful if you otherwise cannot purchase traditional life insurance due to your health or the cost.  Additionally, accidental death coverage can be a cost-effective way to protect someone in a high-risk occupation, such as a trucker driver, where the risk of accidental death is more considerable.

How to Get Gerber Life Insurance?

Adults can get Gerber life insurance through an independent life insurance agent either for themselves or their children. An agent will review your needs assist you with the Gerber life insurance application either on paper or electronically through email.

We suggest that you work with an independent life insurance agent. An independent agent can  compare multiple companies in order to find you the best quote. That is why working with an expert in the life insurance market is a good idea. So, if you are looking for a Gerber Life quote, contact us today. That’s what we’re here for.

Gerber Life Rates

We have included some sample Gerber Life final expense insurance quotes to illustrate just how great Gerber’s final expense insurance is.  Please note that you need to qualify for these rates based on your health, lifestyle, and other factors.

Sample Gerber Life Insurance Quote: Guaranteed Issue (Age 55)

Death BenefitMaleFemale
$ 7,000$ 40.83$ 31.27
$ 10,000$ 57.93$ 44.27
$ 15,000$ 86.44$ 65.95

Please note that these Gerber Life Insurance quotes are for the standard non-tobacco health class. 

The Final Word on Gerber Life

Thank you for reading our Gerber Life insurance review. Gerber Life is a household name that has a strong track record of serving its policyholders  The Gerber Life Insurance Company phone number is 1-800-704-2180, or you can visit them on the web to find out more information.

Today, Gerber Life offers life insurance, accidental death, and college savings solutions to the public.  We view Gerber Life’s life insurance is a reliable option in general. Gerber is an easily recognizable household name, which offers policyholders a sense of security.  As far as their products are concerned feel that their guaranteed issue whole life product is their best value and use it within our own agency.

If you have a pre-existing medical condition or are looking strictly for term life insurance, there may be a better option out there for you depending on the circumstances. Additionally, if you are looking for cash value accumulation, there may be better savings vehicles out there for you.

Give one of our veteran agents a call or request a free no-obligation quote today. A simple phone call could potentially save you thousands of dollars on your life insurance.