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Life Insurance Questions

To find the answers you are looking for quickly and easily, click on one of the topics below. If you do not find the information you need, email your question to Gerber Life and one of our representatives would be happy to assist you.

About The Grow-Up® Plan

About the Term Life Plan

  • Term life insurance is one of the most popular types of insurance because it provides protection – and peace of mind – for a specified period of time, also known as a “term.” The rates for a term life insurance policy can be more affordable than many other types of insurance. The Gerber Life Term Life Insurance Plan is available for 10, 15, 20 and 30 year terms.

  • Absolutely not. With Gerber Life, the amount you agree to pay when your coverage starts is the same amount that you’ll pay throughout the duration of your term life insurance policy.

  • At the end of the term, there are two options: You can either choose to end the policy agreement or, if you decide your family is still in need of coverage, you can renew your policy agreement at the premium rate for your age at that time – with no physical exam. This is a large benefit for those whose health may have deteriorated during the policy term.

  • People regularly choose term life insurance because it is often one of the most affordable ways to protect a family from the unexpected death of a parent (the “insured”). Family left behind as “beneficiaries” would have money available to pay bills, final expenses or to plan for future expenses, such as a child’s education.

  • No medical exam is necessary for a term life insurance policy, in most cases. Coverage is dependent on answers to health questions. A physical may be necessary for cause and for term life insurance applicants age 51 and older who apply for more than $100,000 of coverage. In almost all other circumstances, Gerber Life’s customers will not need a medical exam for a Term Life Insurance Plan.

  • The financial stability of a company is a critical consideration when choosing insurance providers. You want to know that the company you choose will be there when you need the benefits of the policy. Gerber Life has a long history of being there when our customers need us most. In May 2017, A.M. Best, the impartial reporting firm that rates insurance companies on financial stability, management skill, and integrity awarded Gerber Life an “A” (Excellent) rating. This rating is the third highest awarded out of 13 possible categories. The rating refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, rates or practices of the company.

About the Whole Life Plan

  • A whole life insurance policy provides permanent coverage for your entire life, as long as you pay your monthly premium – compared to term life insurance, which protects you for only a specified period of time. Whole life policies build cash value; term life policies do not.

  • One of the key benefits of whole life insurance is the ability to secure coverage for your lifetime. You can lock in an affordable premium rate that will never increase for as long as you own the policy, making your payments predictable and easier to fit into your budget. Whole life insurance builds cash value, providing an extra financial safety net for the unexpected.

  • Each time that you pay your premium, the insurance company sets aside a small amount, which builds up over time as the policy’s cash value. The longer you hold the policy, the more cash value the policy builds. If a need arises, you could borrow* against the available cash value to help cover lost income, rent or mortgage or education costs, or other expenses. Or, if the policy is surrendered in the future, you would receive the available cash value.

    *policy loan interest rate is 8%.

  • The Gerber Life Whole Life Plan offers coverage from $25,000 to $150,000 to fit various needs and budgets. Choose an amount that works best for you. Find out how affordable your premium can be with a free quote.

  • No, the amount you pay when your coverage starts is the same amount that you‘ll pay throughout the life of your policy, unless you decide to increase your coverage or the frequency of your payments. The sooner you apply, the lower your premium rate, since premiums are based on your age when you apply and your policy starts.

  • You could borrow against the available cash value that has built up in the policy, as long as all premiums are paid. Interest accrues on all policy loans*.

    *policy loan interest rate is 8%.

  • That’s your choice. You could pay back the borrowed money plus accrued interest. Or, if you chose not to pay it back, then the money borrowed plus accrued interest will be deducted when the policy's death benefit is paid or when the policy is cashed in.

  • Our Waiver of Premium Rider is an extra safeguard you can purchase and add to your policy. It helps protect you and your family should you become totally disabled and unable to work. If your disability persists for at least six months and you’re under the age of 60, Gerber Life would pay your policy premiums and continue your whole life insurance coverage until you recover. Applicants for the Gerber Life Whole Life Plan who are 18 to 59 years old can buy this rider to add to the policy, at a separate premium cost.

  • No medical exam is necessary, in most cases. Coverage is dependent on answers to health questions. A physical may be necessary for cause or for applicants ages 51 and older who apply for more than $100,000 of coverage. In almost all other circumstances, Gerber Life's customers will not need a medical exam.

  • No. Once coverage begins and for as long as premiums are paid, Gerber Life cannot cancel your Whole Life insurance policy. You are the only person who has the option to cancel the coverage.

About the Accident Protection Plan

About the Guaranteed Life Insurance Plan

  • Guaranteed Life Insurance from Gerber Life is whole life insurance for adults between 50 and 80 years old. Approval is guaranteed, regardless of your health.

  • Whole life insurance does not have a specified time period of coverage. You can own the policy for a few years or for the rest of your life, as long as you pay the premiums. Whole life insurance also builds "cash value." Cash value is money that is set aside by Gerber Life for your policy, which can be accessed if needed. The longer you own the whole life policy, the more cash value you have in your policy.

  • Gerber Life offers a wide range of Guaranteed Life coverage options from $5,000 to $25,0001. Coverage is available in $1,000 increments. Our friendly representatives can help you determine the coverage that best suits you and your family.

    1 South Dakota residents, maximum coverage of $15,000.

  • If you qualify, Social Security will pay $225 toward your final expenses. That is just not enough – the average cost of a funeral can run as high as $10,0002. Guaranteed Life Insurance from Gerber Life can be a smart choice to help offset these high costs.

    2 NFDA 2015 General Price List Survey. National Funeral Directors Association.

  • Absolutely not. With Gerber Life, the amount you pay when your Guaranteed Life coverage starts is the same amount that you'll pay throughout the life of your policy. The only time your premiums may change is if you decide to increase your coverage or the frequency of your payments.

  • The Gerber Life Guaranteed Life Insurance policy comes with a graded death benefit limitation. It applies to the first two years of coverage when the policy is issued. If death occurs within the first two policy years for any reason other than an accident, all premiums plus 10% interest shall be paid to the beneficiary. If death is due to accidental causes within the first two policy years, the full death benefit shall be paid to the beneficiary.

    After the two-year Graded Period, if the insured dies for any reason, the full face amount of the policy shall be paid to the beneficiary. If the insured dies by suicide within two years from the Issue Date, the only amount payable will be the premiums paid for the policy plus 10%, less any debt against the policy.

  • Yes. Under current Federal law, the benefits are not subject to Federal tax if paid to a named beneficiary.

  • No medical exam is necessary for the Gerber Life Guaranteed Life Insurance policy. The only condition for becoming a Guaranteed Life policy owner is that you are between 50 and 80 years old. Your acceptance—regardless of your health—is guaranteed.

  • No. Once coverage begins, and for as long as premiums are paid, Gerber Life cannot cancel your Guaranteed Life Insurance. Only you have the option to cancel the coverage.

  • The Gerber Life "free look" feature gives you 30 days to examine and accept your Guaranteed Life Insurance whole life policy. If you decide that you no longer want the safety and coverage that your policy offers, simply return it for a full refund of all premiums that have been paid.

About the College Plan

  • There are three main differences between the Gerber Life College Plan and a 529 plan.

    1. 529 plans must be used for college expenses — or else penalties will be incurred. The Gerber Life College Plan can be used to pay for college expenses or anything else, once the policy reaches maturity.
    2. The value of your 529 plan may be impacted by the ups and downs of the economy, which presents an element of risk. The Gerber Life College Plan offers stable growth that isn't impacted by economic fluctuations.
    3. The Gerber Life College Plan is the only College Plan that also offers the additional benefit of adult life insurance.

  • The rate of return varies depending upon your specific policy, its duration, and your billing frequency. For further details about your specific policy's rate of return, please call us at 866-503-4487.

  • Unlike a standard bank savings account, the Gerber Life College Plan can guarantee how much money you'll have after 10 to 20 years (as long as premiums are paid) and can give you the added benefit of adult life insurance protection. So, should something happen to you — the full amount of your policy is paid as a death benefit to whomever you select as beneficiary.

  • The amount you'd get back depends on when you stop paying and surrender your policy. If you are past your policy's midway point (for a 10-year policy, the midpoint is about five years), you would get back all of the money you paid in.

  • The Gerber Life College Plan will generate some taxable income, Gerber Life Insurance will send you a statement (Form 1099) to file with your taxes.

About Gerber Life Insurance Company

About Purchasing Gerber Life Insurance

  • Gerber Life is a licensed insurance company in all 50 states, Washington D.C., Canada and Puerto Rico. It is important to note, however, that some Gerber Life policies are not available in all areas. To find out more, refer to the specific policies descriptions elsewhere on the site, or email your specific question. A customer service representative will reply within 24 hours.

  • The answer will depend on many factors and only you can determine what is right for you or your family members. For help, click here to learn more about the available options.

About Gerber Life eService

  • Gerber Life eService allows policy owners to manage their policies wherever and whenever they choose (with an internet connection, of course).

  • When you enroll in eService, you can:

    • Pay your premiums
    • Apply for a loan
    • Review your payment history
    • Update your contact information (phone, address, email)
    • Update your billing and payment preferences
    • Change your beneficiaries

About eService Enrollment

About eService Billing & Payments

About eService Features