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Reviews.com rates Gerber life insurance a 3.5 out of 5 based on riders, coverage, customer satisfaction, and more.
Gerber Life Insurance offers protection for children, young adults, adults, and seniors
Gerber Life Insurance Company awarded an excellent “A” rating from AM Best
Consumers shopping for life insurance want to know their family is protected by a company they can trust. A familiar household name for over 50 years, Gerber Life Insurance Company provides both term and permanent life insurance policies for children, adults, and seniors.
Gerber Life Insurance reviews vary by state with some National Association of Insurance Commissioners (NAIC) complaints. However, with a positive financial score, a convenient user-interface and suitable coverage options for children, a Gerber Life insurance policy may be a great choice for families.
Gerber Life Insurance Overview
Reviews.com Score:
3.5
In business since:
1967
AM Best: AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
A
J.D. Power: J.D. Power scores are based on surveys for customer satisfaction and product quality.
N/A
Recently awarded an A rating by AM Best and located on Forbes list of America’s Best Insurance Firms in 2021, Gerber Life Insurance is considered a reliable name with over 50 years in the industry and over $59 billion in life insurance policies in force as of December 2020.
As a member of Western & Southern Financial Group Inc., Gerber Life offers flexible policy options perfect for a growing family, particularly ones with young children. Gerber Life offers coverage that can expand as children become adults and even offers a college savings plan.
PROS
Positive rating from AM BestAwarded an “A” (Excellent) rating by AM Best in December 2020.
Convenient online policy management portalEasily manage your policy and pay your premiums through their online eService platform.
Easily receive a free quoteConsumers can easily receive a free quote online or by calling Gerber Life directly.
Large selection of policies availableChoose from a variety of plans and coverage types for children, adults, and seniors.
CONS
No Universal policy options availableUnlike some of its competitors, Gerber Life does not offer universal life policies.
Mixed customer service reviews availableGerber Life was not listed on J.D. Power’s life insurance review for satisfactory customer service.
Claims cannot be filed onlineTo file a claim, consumers must call a dedicated claims phone number and request a claim form.
Product availability varies by statePer Gerber Life Insurance’s disclosures, not all Gerber Life products are available in all states.
Gerber Life Insurance Highlights
Coverage & Riders
Customer Experience
Before You Buy
Gerber Life offers a variety of riders. AWaiver of Premium rider can be added to whole life insurance policies may be available on other policy types depending on the death benefit amount and a consumer’s age at time of purchase. The rider will waive the cost of premiums and keep a policy in force in the event a named insured becomes totally disabled.
Gerber Life also offerschild riders on term life policies. Once the term is over, the coverage through the child rider also ends so some consumers may find more value in a whole life policy for their children.
Guaranteed Purchase Option riders are also available through the Gerber Life Grow-Up® Plan and gives a child several opportunities to buy additional coverage throughout their adulthood at a standard adult premium rate with no medical exam required.
Despite a positive financial rating from AM Best, Gerber Life was not part of the 2020J.D. Power study of customer satisfaction among life insurance companies.NAIC shows that Gerber Life had a higher-than expected complaint index for individual life policies in 2018 at 1.37 and 2019 at 1.54 with complaints coming out of several different states. The complaint index was lower in 2020 at only 0.89 with 7 total complaints.
Gerber Life Insurance offers several policies that do not require any prior medical exam including both term and whole life policies.Medical exams may be required based on answers to basic health questions, especially if applicants have pre-existing conditions. Medical exams may also be required for applications of over $100,000 in coverage or for adults 51 and older.
The Gerber Life Grow-Up® Plan is an affordable alternative for parents who want to purchase coverage for their children. This policy is a whole life plan that is available to kids 14 days old to 14 years old that they will later take ownership of as an adult. This plan provides coverage for life and includes a guaranteed purchase rider that allows the insured several opportunities to buy additional coverage throughout their adulthood at a standard adult premium rate with no medical exam required. Plus, it builds cash value and coverage automatically doubles when a child turns 18. This policy is a great way to lock in a low monthly premium that will be unaffected by age.
Gerber Life also offers insurance for young adults (between 14 and 18 years old). Like the Grow-Up® plan, rates are locked in at a young age, coverage automatically doubles when the insured turns 18, and the policy builds cash value. This coverage guarantees that a young adult can have permanent insurance regardless of any future changes in their health or occupation. Up to $50,000 in coverage can be purchased with a minimum coverage of $5,000.
Gerber term life insurance is insurance designed to provide coverage for a specific number of years —10, 20, or 30. This type of coverage is great for young couples who just got married, purchased a home with a mortgage, or have decided to start a family and need to protect their financial future. Available coverage ranges from $100,000 to $300,000 and in some cases, a medical exam is not required depending on coverage amount, age and prior health. The premium will also be locked in for the duration of the term.
For consumers who want a peace of mind for life rather than coverage for a specific duration of time, Gerber whole life policies are available in amounts from $50,000 to $300,000. Whole life policies build cash value that can be borrowed against for future expenses and as long as premiums are paid, the monthly rate will be locked in for life. Gerber whole life policies are available for adults aged 18 to 70. For over $100,000 in coverage or for applicants over age 51, a medical exam is required.
Gerber guaranteed life insurance is a whole life policy specifically available for seniors aged 50 to 80. Coverage is guaranteed regardless of prior health and no medical exam is required. Coverage is available from $5,000 to $25,000 and is designed to cover burial expenses, unpaid debt, and outstanding medical bills. This policy will also build cash value.
Gerber’s accident protection insurance provides coverage in the event of an accidental death or a covered disabling injury which can help families cover medical costs, lost wages, and other expenses arising from an unexpected accident. Available coverage for an individual between 19 and 69 years old varies between $20,000 and $100,000 with no medical exam is required. Coverage is also available regardless of pre-existing health conditions or occupation. Premium rates are locked in and there is no waiting period for coverage to start.
The Gerber college plan is another great option available for children. This plan is specifically designed to provide a benefit up to $150,000 when the policy matures (depending on policy duration) to cover college expenses or other out-of-pocket costs while also doubling as a life insurance policy.
Gerber Life Insurance vs. The Competition
Provider
Reviews.com Score
J.D. Power*
AM Best
Available Policies
Gerber
3.5
N/A
A
Term life insurance Whole life insurance Guaranteed life insurance Accident protection insurance Whole life policies for children College savings plans
Globe
4.6
810
A++
Term life insurance Whole life insurance Final expense insurance Accidental death insurance Mortgage protection insurance Cancer insurance ICU insurance Hospital insurance Coverage for children
Protective Life
4.2
754
A+
Term life insurance Whole life insurance Universal life insurance Retirement policies
New York Life
4.2
802
A++
Term life insurance Whole life insurance Universal life insurance Variable universal life insurance Long-term care policies Retirement policies
Globe Life Insurance has an A++ rating and is among the top of customer satisfaction according to J.D. Power. While Globe Life offers standard term and whole life policies, they also offer policies that provide coverage for financial expenses arising from a variety of health issues including cancer and critical illness. Gerber Life may offer better options to consumers who are specifically looking for life insurance coverage for families.
Gerber Life Insurance vs. Protective Life Insurance
Unlike Gerber Life, Protective Life Insurance offers universal life insurance coverage for consumers looking for tax-deferred cash value growth and flexible options. Protective also offers much higher coverage amounts for term policies. However, Gerber is a better option for families who want more options for coverage for their children. While Gerber was not on the J.D. Power customer satisfaction list, Protective Life rated below the industry average.
Gerber Life Insurance vs. New York Life Insurance
New York Life Insurance is another company with a high customer satisfaction rating and has been an industry leader for 175 years. New York Life may be a better option for consumers who want to sit down with a professional to speak in-depth about their unique financial needs, including retirement and investment options. Gerber Life may be a better option for consumers who are more focused on ensuring basic financial protection for loved ones.
The Grow-Up® Plan is a whole life policy for children that builds cash value, doubles coverage when the child turns 18, and guarantees coverage for life at a locked in premium.
The Gerber Grow-Up® Plan builds cash value. When an insured child becomes an adult, they will have the option to continue the policy or cash it in for the cash value.
Gerber Life Insurance has been providing life insurance coverage to individuals since 1967 and is a financially secure company with an “A” (Excellent) rating from AM Best.
Methodology
We evaluated Gerber Life insurance based on riders, coverage, resources, financial strength and customer satisfaction to determine Reviews.com scores and create our best life insurance reviews. To compare life insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:
Number of Riders: The more riders a life insurance company has, the higher it scores in our Reviews.com methodology.
Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each life insurance company’s financial stability.
Coverage: Life insurance companies scored higher if customers can convert term to whole and if they offered multiple options under different types of life insurance policies.
Resources: Reviews.com compared website functionality for life insurance companies based on ability to receive online quotes, submit online claims, and read information on different policies available.
Jessie has been writing professionally for over a decade with experience in a variety of different topics and industries. She currently resides in the beautiful Outer Banks where she works as a freelance writer and marketing professional full-time. With a bachelor’s degree in history, she is extremely passionate about studying the local culture and teaching others about the history of the area.
