Guaranteed Life Insurance Questions

Guaranteed* Life Insurance from Gerber Life is whole life insurance for adults between 50 and 80 years old (50 and 75 in New York). The coverage can last a lifetime once approved, regardless of profession or health.

*Guaranteed coverage requires that applicant is a U.S citizen residing in the US or permanent legal guardian. Total limit of all combined Gerber Life Guaranteed life policies is $25,000.

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 borrowed against if needed.* The longer you own the whole life policy, the more cash value you have in your policy.

*Policy loan interest rate is 8%. Loans may impact cash value and death benefit.

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 2023 NFDA General Price List Study. 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. For applicants age 50-80 (50-75 in New York) who die (for any reason other than an accident as defined in the policy) within the first two years of coverage, the death benefit will equal 110% of earned premiums. The full death benefit amount is only payable after the first two years of coverage (one year in ND).

After the two-year Graded Period, if the insured dies for any covered reason, the full face amount of the policy will be paid to the beneficiary. If the Insured dies by suicide within two years from the Issue Date of the policy, or any shorter period as may be required by applicable law in the state where the policy is delivered or issued for delivery, the only amount payable by us will be the premium paid for the policy plus 10% interest, less any debt against the policy. Please refer to your policy contract for specific details regarding exclusions, limitations, benefits and shorter time frames that may vary by state.

Under current Federal law, the benefits are not generally subject to Federal tax if paid to a named beneficiary. Please consult your tax advisor; in some cases, estate or inheritance taxes may apply. Federally tax free under current tax law. Consult your tax advisor; in some cases, estate or inheritance taxes may apply.

No medical exam is necessary for the Gerber Life Guaranteed Life Insurance policy. If you are a U.S. citizen or legal alien between 50 and 80 years old and become approved, your coverage is guaranteed regardless of profession or health.

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.

After receiving your Guaranteed Life Policy you will have 30 days to examine and accept your Guaranteed Life Insurance whole life coverage. 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.