Gerber life insurance-Who are They?

You are probably familiar with Gerber the company who makes baby food, and you might think it is a little bit funny that they are also in the life insurance business as well.  The Gerber life insurance company is actually a subsidiary of their parent company Gerber Products Company based in Michigan.

They got into the life insurance market in the late 60s, and have grown into one of the largest providers of life insurance in North America. In fact they have over $30 billion in life insurance policies, serving over 3 million clients.

 

 

Who does Gerber Life market to?

This life insurance company not only offers many types of life insurance products, they also offer health insurance product such as Medicare supplement policies to Medicare eligible seniors, but they sell accident protection insurance as well.

I think most consumers in North America will be familiar with Gerber life insurance from the postcards, they send out to parents and grandparents offering life insurance for their children. One of their main competitor’s is Globe life insurance, and the child life insurance market.

List of Gerber Life Insurance Products:

Life Insurance for Kids:

life insurance for kids

  • The Grow-Up Plan- Gerber offers a permanent also called whole life insurance policy for children. The maximum face amount is $50,000, however the coverage will double when your child turned 18-granted they still have the policy in effect. Your child can even increase their coverage as an adult at affordable rates.
  • Gerber Life College Plan-This is a life insurance and a college savings program rolled into one plan. A great feature of this program is that it’s the only college savings program that includes life insurance for adults. The guaranteed payout on this program is up to $150,000 with a minimum payout of $10,000. One of the incredible benefits that Gerber is offering, is your student does not even have to use the funds for college expenses.

 

Life Insurance for Adults:

life insurance for adults

  • Term Life Insurance-Gerber’s temporary or term life insurance products have a face amount ranging from $25-$150,000 for adult ages up to 70. The terms are 10, 15, 20 or 30 years. If you are concerned about a medical exam, Gerber does not require a medical exam for their term life insurance policy.  Also the life insurance premium is guaranteed for life of the policy.
  • Whole Life Insurance-if you don’t already know, Whole-Life Insurance is essentially permanent life insurance coverage. So it is going to be more expensive than temporary term life insurance coverage. Gerber’s whole life option offers a life insurance policy with a face amount up to $150,000. Also, no medical exam is required as part of the application if you’re under 50 and in pretty good health.
  • Guaranteed Life Insurance- This is Gerber’s “Final Expense” or “Burial Insurance” offering for seniors. This is a Whole Life Insurance policy that offers seniors up to $15,000. There are NO health questions to answer and no medical exam required. As long as your 50-75 years of age, you are good to go with Gerber. Also remember that this is a whole life insurance policy that builds up cash value, that you can get a loan against in case you need cash in an emergency situation.

 

Gerber Health Insurance Products:

gerber health insurance

  • Accident Insurance-Gerber offers a accident policy that will cover accidental death and certain accidental injuries, up to $100,000 24/7.
  • Medicare Supplements-Gerber offer Medicare supplemental policies to Seniors who are eligible for original Medicare part a and part B.