Gerber Life Insurance Company is a competitive company when it comes to insuring children. And in fact, for older adults who have medical issues preventing them from getting Life Insurance elsewhere, Gerber is one of the options to consider.
Gerber has been around for a long time providing insurance for children. Gerber is one of the many companies we represent as well.
We carry Gerber, and find that it is very competitive for children and for older adults who are unable to qualify for other policies.
Their guaranteed issue life insurance is especially reasonable for that type of coverage if you choose to pay it monthly by automatic withdrawal from your checking account. As with other guaranteed issue policies, there is a graded period where the policy only pays for accidental death, then after two years it will pay the full death benefit for death by any reason. If death occurs in the first two years, it pays back all premiums plus 10%, which is a better sure return than you can get anywhere else.
Where the guaranteed issue Gerber policy might not be worth it is if the insured person lives so long that the policy pays less than the premiums paid in. However, this type of policy is usually purchased by those for whom life expectancy may be shortened due to illness or weight. In my opinion, the risk of not having any coverage would be worse than the choice to purchase a Gerber policy and not need it until many years later.
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Gerber has been around for a long time providing insurance for children. Gerber is one of the many companies we represent as well.
Hope this answers your question.
Their guaranteed issue life insurance is especially reasonable for that type of coverage if you choose to pay it monthly by automatic withdrawal from your checking account. As with other guaranteed issue policies, there is a graded period where the policy only pays for accidental death, then after two years it will pay the full death benefit for death by any reason. If death occurs in the first two years, it pays back all premiums plus 10%, which is a better sure return than you can get anywhere else.
Where the guaranteed issue Gerber policy might not be worth it is if the insured person lives so long that the policy pays less than the premiums paid in. However, this type of policy is usually purchased by those for whom life expectancy may be shortened due to illness or weight. In my opinion, the risk of not having any coverage would be worse than the choice to purchase a Gerber policy and not need it until many years later.