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Family Plan Term Life Insurance Questions

  • Term life insurance is one of the most popular types of life insurance because it provides protection for a specified period of time – a "term” – and can cost less than other types of life insurance. Our Gerber Life Family Plan Term Life Policy is available for a duration of 10, 20 and 30 years, choose the duration that works best for you and your family.

  • To apply for a Family Plan term life policy you must be a U.S. citizen (or permanent legal resident) and between the ages of 18-70.

  • With the Family Plan term life policy you can get coverage starting at $100,000 up to $2,000,000 for ages 18-55 (ages 56-70 can get up to $500,000).

  • As a general rule of thumb, 5-10 times your annual income is a good starting point. If your family has greater financial needs (for example, a large mortgage, or future college tuition costs) you might consider more coverage. Also consider what works with your budget.

  • The premium (or cost) you pay for life insurance depends on a number of factors: how much coverage you get, the term (duration of coverage), your age, gender, and health, for example. Click here to get your quote.

  • With our Family Plan Term Life policy, the amount you agree to pay when your coverage starts stays the same throughout your policy's term as long as premiums are paid.

  • At the end of the term your policy coverage ends.  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 changed during the policy term.

  • Term life insurance is popular because its one of the most affordable ways to help protect your family financially after the loss of a parent or family provider. Term provides coverage for just the number of years you select, so it costs less than other types of life insurance, like Whole Life. Many parents choose Term insurance because they want the most amount of coverage for the lowest cost.

  • In many cases a medical exam is not needed. Coverage is dependent on answers to health questions. However if applying more than $1,000,000 in coverage or if older than 55 and applying for more than $500,000 in coverage, a medical exam will be needed.

  • A.M. Best, the impartial reporting firm that rates insurance companies on financial stability and ability to meet financial obligations, has awarded Gerber Life an “A+” (Superior) rating, most recently in January 2024. It refers only to the overall financial status of the company and is not a recommendation of specific policy provisions, rates or practices of the company. This rating is the second highest awarded out of thirteen possible categories.



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