Gerber Life Insurance Reviews 2020

Products

  • Term
  • Whole
  • Final expense
  • Guaranteed

You may be familiar with Gerber life insurance as they are one of the few companies specializing in life insurance for children. However, you may be surprised to learn that Gerber also offers life insurance for adults. 


Gerber life insurance policies for adults

  Death benefit payout range Age range Exam required?
Term $100K-$300K 18-70 Depends
Whole $50K-$300K 18-70 Depends
Guaranteed $5K-$25K 50-80 No

Table created for illustration purposes only. Information available at GerberLife. Data effective 12/3/19.

Gerber term life insurance

Term life insurance is one of the most common types of life insurance. Gerber offers coverage ranges from $100K to $300K, which could help cover any debts accrued.1 However, if you are looking for a larger amount to supplement your income, you may want to consider another provider.

Gerber offers the ability to quickly apply online for its adult term life insurance policy and, in most cases, a medical exam isn’t required. On the flip side, Gerber requires an exam if you are 51 or older and are looking to get more than $100K in coverage.2

Gerber offers 10-, 20-, or 30-year term policies to meet your needs.

Gerber whole life insurance

Gerber’s whole life policy can provide up to $300K in protection with the added benefit of building cash value in the policy. The longer you own the policy, the more your cash value builds. You have the ability to borrow against the available cash value, if needed—or you may be able to use those funds to pay your policy’s premium.  As a note: The current interest rate on borrowing from the cash value is 8%. Consult a licensed life insurance agent to determine the best option for you. 3

Similarly to Gerber’s term life insurance, Gerber’s whole life insurance policy does not require a medical exam in all cases, but coverage is dependent on answers to health questions. Also, those who are 51 years of age and older applying for more than $100K in coverage are required to take a medical exam along with answer the health questions. In some cases they may also require your medical history.

Gerber guaranteed issue life insurance

Gerber offers guaranteed whole life policies for lower coverage amounts of $5K-$25K. These policies are commonly used to cover final expenses.

Gerber guaranteed issue whole life policies are available only to those 50 to 80 years old. But its main advantage is that the policy doesn’t require a medical exam or health questionnaire—it’s guaranteed. You may also easily apply for this type of policy online. And it accumulates cash value similar to the whole life policy.5


How much does Gerber life insurance for adults cost?

While Gerber may not have the cheapest rates in town, they still offer affordably-priced policies that may not require a medical exam or a health questionnaire.

20-year term life insurance for healthy 30 year old

Death benefit payout Monthly male premium Monthly female premium
$100K $23 $19
$200K $41 $33
$300K $60 $46

Sample quotes based on GerberLife.com and are for illustration purposes only. Actual quotes may vary. Rates are based on discount given by Gerber for paying via automatic monthly payments. Data effective 12/3/2019.

20-year term life insurance for a healthy 50 year old

Death benefit payout Monthly male premium Monthly female premium
$100K $63 $46
$200K $120 $86
$300K $178 $127

Sample quotes based on GerberLife.com and are for illustration purposes only. Actual quotes may vary. Rates are based on discount given by Gerber for paying via automatic monthly payments. Data effective 12/3/2019.


Why you should consider Gerber

Pros

  • No exam options available
  • Online applications available

Cons

  • Limited coverage amounts
  • Term options limited to 10,20,30

No medical exam options

If you are a senior looking for no medical exams and no health questionnaires, then Gerber could be the right choice for you. Since Gerber’s guaranteed issue policy has a lower coverage amount, it’s very handy for taking care of any final expenses.

If you are younger, you may be able to get up to $300K in coverage with no medical exam. However, you may have to complete a health questionnaire or provide your medical history.

Online quotes and applications

Gerber allows you to apply online for term life insurance or guaranteed issue life insurance. If you are looking to avoid talking to an agent and would prefer to apply online, then Gerber could be right up your alley. However, if you are looking for a traditional whole life policy, you may need to speak directly with an agent.

You can also get a quote quickly and easily online so you can get an idea of what your premiums would be for each policy. Gerber also does a great job of giving you some basic information about each of their policy types right on their website.


Bottom line: Gerber is a solid choice for no exam life insurance

Gerber is a solid choice for those looking for no medical exam life insurance.

It may be that Gerber is the best company for you. However, it is important to know all of your options, this is where speaking with a licensed life insurance agent can be beneficial. They can find the right policy for your individual situation.

If Gerber has what you need and sounds like the right company for you, get a quote today.

Need help understanding more about life insurance? Check out these other pages: 


Sources

1. Gerber Life Insurance, “Gerber Term Life Insurance
2. Gerber Life Insurance, “Gerber Term Life Insurance
3. Gerber Life Insurance, “Gerber Whole Life Insurance
4. Gerber Life Insurance, “Gerber Whole Life Insurance
5. Gerber Life Insurance, “Gerber Guaranteed Life Insurance

Leave a Comment