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Gerber Life Final Expense Insurance Review


ConsumersAdvocate.org Rating: 4.3 / 5 (Excellent)
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Gerber Life Insurance is a life insurance company that is a financially separate affiliate of the Gerber Products Company. Gerber Life was founded in 1967 and offers various life insurance products, such as term and whole life policies for children and adults. The company services over 3.3 million policies nationwide, holds a BBB rating of A+, and an A rating with the A.M. Best.
 
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How is Gerber Life rated?

Breakdown

4.3/5
Policy Features
4.3/5
Qualifications
4.3/5
Financial Strength
4.3/5
Customer Experience

Overall Rating: 4.3 / 5 (Excellent)

Gerber Life's final expense product is a whole life insurance policy that is both flexible and reliable. The coverage is easily accessible as long as you fall within the age requirement. Policies are also backed by a 30 day return policy. Gerber Life's guaranteed life insurance program is perfect for customers with delicate health, and is suitable for those who want to accumulate cash value throughout the years.

Gerber Life Policy Features

Policy Features - 4.3 / 5

Gerber Life offers final expense insurance through their guaranteed life insurance program, which offers a minimum coverage of $5,000 and can be increased up to $25,000. This maximum does not apply to South Dakota residents, who have a lower maximum coverage of $15,000. The plan's premiums are fixed, and will not change unless the customer decides to increase coverage maximums or the frequency of payment.

The plan also mentions a graded death benefit limitation that is active through the first two years of the insurance's activation. This limitation states that if the person insured dies during the first two policy years, the beneficiary will not receive the full death benefit, but rather all premiums plus 10% interest. However, if the death was accidental, the beneficiary gets the full death benefit. After the graded period passes, the beneficiary is paid the full face amount of the policy.

Policy Coverage Maximum

25000

Expenses Benefits Help Cover

  • Caskets
  • Funeral
  • Flowers
  • Cremation
  • Post-Funeral Reception

Types of Insurance Products

  • Whole Life
Types of Premiums
Fixed
Restrictions on Benefit Usage
No
Accidental Death Coverage
Yes
Cash Value Accumulates
Yes

Gerber Life Qualifications

Qualifications - 4.3 / 5

Gerber Life's guaranteed life insurance age requirement ranges from 50 to 80 years old. The insurance has no disqualifying factors, and as long as you meet the age requirement, you are guaranteed acceptance into the plan. There are no questionnaires to fill or medical exams to go through, which makes the insurance a great option for customers with severe sicknesses or who would be denied final expense insurance otherwise.
Age Range
50-80
Medical Exam Required
No

Gerber Life Financial Strength

Financial Strength - 4.3 / 5

There is no listing for Gerber Life on Moody's or Standard & Poor's websites, but the company has an A with A.M. Best. This denotes excellence in Gerber Life's financial strength, and the website shows that the score has been maintained since 2014.
Year Founded
1967
Company Type
Underwriter
A.M. Best Financial Rating
A

Gerber Life Customer Experience

Customer Experience - 4.3 / 5

Gerber Life Insurance maintains an A+ with the Better Business Bureau, but it is not accredited by the agency. Although there is a total of 8 negative reviews and 79 complaints on record, Gerber Life has addressed all of them in a polite and professional manner. Also, the company’s NAIC 2017 complaint score ratio of 0.59 speaks highly of the company, since it is much lower than the national average of 1.00.
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
8
NAIC Complaint Ratio 2018
0.59
NAIC Total Complaints 2017
17
Date Collected
2018-07-26

Company Profile

Full Name
Gerber Life Final Expense Insurance
Company Website
https://www.gerberlife.com/
Headquarters
445 State Street, Fermont, MI, 49412

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