The Gerber Life Guaranteed Life Insurance is whole life insurance for adults between 50 and 80 years old. Below we will list each pro and explain why it might benefit you. Gerber is a well respected and financially sound company that can be trusted. Everyone can qualify for this product as long as you fall within the age range and enter into a legally binding contract. Mutual of … This entry was posted in Companies. The Gerber Guaranteed Life Plan is guaranteed issue meaning there are no medical exam hoops to jump through, no underwriting or health questions on the application. Your premiums will never increase, so you can budget for what’s ahead with that in mind. This is a company that you can put your faith into and trust that your beneficiary will receive the necessary funds to cover your burial and final expenses. You can apply online (or by phone) in minutes for a lifetime of coverage — and your acceptance is guaranteed. Since there are no health questions on the application, you are under no obligation to tell your insurance agent or the carrier anything about your current or past health standing. Guaranteed issue life insurance is a type of life insurance policy that has no underwriting and is guaranteed to anyone regardless of health. The Gerber Guaranteed Issue Life Insurance Plan is a whole life policy that offers lifetime protection and builds cash value. Plus, unlike term insurance, your Gerber Life Guaranteed Life Insurance policy builds cash value that you can use if needed. By signing up you agree to occasionally receive email from Gerber Life. The guaranteed issue product is available in almost every state and provides agents with another guaranteed issue … It applies to the first two years of coverage when the policy is issued. The Gerber Life Guaranteed Life Insurance policy comes with a graded death benefit limitation. Guaranteed Life Insurance from Gerber Life is a whole life insurance policy for adults between 50 and 80 years old. The best guaranteed issue life insurance companies are Gerber, AIG, and Great Western. For the price you pay, guaranteed issue policies don’t offer much coverage. If your health should warrant a guaranteed acceptance policy, don’t make the mistake of going elsewhere. We would love to earn your business by helping you make this decision and comparing rates from the top insurance carriers in the country. To compare guaranteed acceptance life insurance rates for your exact age and requested policy amount, use the complimentary quoting tool on the side of this page. About Gerber Life Insurance Gerber is a great option for life insurance so there are very few drawbacks when choosing Gerber Life Insurance. It is available for those ages 50 to 80 and offers coverage amounts ranging from $5,000 to $25,000. This is the 3rd best rating available and far superior to many carriers that also feature guaranteed issue products. Your decision today will help your child be better equipped for adult responsibilities tomorrow. So let’s dive in and learn about the Gerber Life guaranteed issue product. Each rate shown is a quote based on information provided by the carrier. And if you have any questions along the way, our dedicated customer service representatives are happy to help. Our Gerber Life College Plan representatives can help you choose the best way to plan for college. You can pay by direct billing, debit, credit, or ACH (preauthorized checking). Today, Gerber Life is licensed to sell life insurance throughout the United States, Canada, and Puerto Rico. Gerber Life Insurance has been around since 1927 and is best known for its children whole life insurance policies. This plan features a two-year graded death benefit with 10% interest if death occurs from natural causes within the period. This is why we include information about the carriers, their ratings, application process, customer service and more in our reviews. Important featu… They use the terminology “budget minded” for this product. A portion of the funds from your premium payment will go into a cash account that can be borrowed against and used to pay premiums for a period of time. By getting a free, instant quote now, you can get an idea of how much your monthly premium will be for life. The goal of this Gerber guaranteed life insurance review is to help you decide if Gerber is the right fit for you. Gerber Life Guaranteed Life Insurance provides valuable whole life insurance protection to help cover final expenses, such as medical bills, burial costs and unpaid debt. Bookmark the permalink. For example, an adult child can own the policy on their father, but the father is the insured. State requirements vary somewhat. You may be aware of guaranteed issue life insurance products offered by companies like Colonial Penn and Gerber Life, who frequently advertise their guaranteed issue life insurance products on daytime television. Anyone denied life insurance because of advanced age will still qualify for Gerber life insurance for seniors. The Graded Death Benefit of a policy is a period of time when the death benefit paid is restricted If death occurs from natural causes (not accidental) during your policy’s first two years. The information needed is very basic and relates to the insured, the owner and the beneficiary. Guaranteed Life Insurance from Gerber Life can be a smart choice to help your family cover the cost of your final expenses. With the Gerber Life’s Guaranteed Life policy, if death occurs in the first two years your beneficiary will receive all premiums paid plus 10%. The only difference among them all is what they charge for the insurance. There are also term and whole life policies for adults, though the death benefits are quite small, with a maximum of $300,000. Gerber’s Guaranteed Issue Life Insurance is a final expense life insurance policy. Features of guaranteed issue life insurance include: Unsubscribe at any time. Credit card debt, medical bills and funeral costs can be very costly. If you’re between 50 and 80 years old, your life insurance acceptance is guaranteed with this policy, regardless of your health history.1 There are no medical exams to complete or lengthy health questionnaires to fill out. Policies are expensive for the amount of coverage you receive 3. The Gerber Guaranteed Life Plan is guaranteed issue meaning there are no medical exam hoops to jump through, no underwriting or health questions on the application. Answer 4 easy questions to get your free quote immediately. When selecting a guaranteed acceptance policy, the cost will always be one of the key determining factors. The plan is also a whole life insurance plan meaning that the coverage will last for your entire life. Today, Gerber Life has more than $33 billion in life insurance in force and over 2.9 million policies throughout the United States, Puerto Rico and Canada. National Funeral Directors Association. For as little as $1 a week, you can give your child a lifetime of life insurance protection with plans starting at $5,000. These premiums, however, are fixed and will never increase on you. Is Gerber Guaranteed Life Insurance is Right for You? Their guaranteed acceptance policies are almost identical, to Gerber Life’s. It helps protect your family from the financial burden of your final expenses. The three main benefits of guaranteed issue life insurance are that there is no required medical examination, no medical questions to answer, and … Sign up for news and tips, exclusive offers, and much more. Except their prices are higher. As a whole life insurance policy, a portion of each premium you pay is set aside as the cash value of your policy. You can secure a small amount of coverage to cover the basics, or a larger amount to take care of greater expenses your family may face down the road. All rates shown include a $1.00 policy fee and a discount for ACH payment. We understand you want to give your child every advantage. What’s the value of life insurance for parents and the elderly? Children ages 15-17 can be insured by our Young Adult whole life insurance plan. We have an “A” (excellent) rating from the highly regarded independent reporting firm, A.M. Best. The only time your premiums may change is if you decide to increase coverage or the frequency of your payments. You will likely have a waiting period before your beneficiaries would qualify for the death benefit Because of this, Guaranteed Issue life insurance should almost always be your last resort for securing life insurance. Guaranteed Life Insurance from Gerber Life is a whole life insurance policy for adults between 50 and 80 years old that does not require a medical exam or ask health questions – your acceptance is guaranteed.1 Plus our Guaranteed Life Insurance builds cash value that you can borrow from if you ever need help with unexpected expenses. Guaranteed issue insurance through Gerber is a great plan, with competitive rates. You may be delighted to know that this amount is currently not subject to federal income tax when paid to your beneficiary. Sign up now to receive our monthly newsletter (which includes articles and tips for your Gerber family) as well as other important product information from Gerber Life. Gerber Guaranteed Issue Product Review Gerber Life Insurance Company has been around since 1927 and has an A (excellent) rating, according to A.M. Best. As long as you continue to make premium payments, your policy will be in-force. It’s a smart option for those wanting to stay one step ahead of costly final expenses. View our privacy policy. Below we will cover Gerber’s guaranteed issue product, including pros, cons, and alternative choices. However not every policy is perfect, and we do have one potential setback. Currently, Gerber has assets under management of more than $2 billion with the majority of the company’s portfolio in high-quality investments. That predictability can have great value as you budget for the years ahead. There are millions of people who have trusted their family’s financial planning to Gerber and we strongly feel that you cannot go wrong. All content on this site has been written by life insurance experts & licensed life insurance agents. Gerber Life Insurance Company Ratings Policy face value amounts range from $5,000 to $25,000 and are sold in $5000 increments. Gerber Life provides a wide range of Guaranteed Life Insurance coverage amounts, from $5,000 to $25,000*. In fact, the average cost of a funeral alone can run as high as $10,0003. Remember that you can also borrow from the cash value of your policy (policy loan interest rate is 8%), giving you an extra financial tool for unplanned expenses. 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 … Get a free quote today to see how a policy can fit into your budget. A 50-year-old male can get the same policy for $38 per month. Gerber might immediately remind you of baby food. Their guaranteed issue policy is … By comparison, term life insurance policies don’t build cash value. Complete a few more simple questions about yourself and then choose your coverage amount – between $5,000 and $25,0002 – and apply. Example, an adult child can own the policy will have a graded death benefit with 10 % interest death... 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