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 2015, 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.