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Gerber Life Insurance Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
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Founded in 1967, Gerber Life Insurance is a financially separate affiliate of the Gerber Products Company and offers term and whole life insurance policies for both children and adults.

The company, which services over 3.3 million policies nationwide, holds an A.M. Best rating of A (Excellent) and a BBB rating of A+.
 
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How is Gerber Life rated?

Breakdown

4.5/5
Company Stability
4.5/5
Reputation
4.4/5
Policies & Coverage

Overall Rating: 4.5 / 5 (Excellent)

Gerber Life offers reliable, high-quality products backed by their company's outstanding financial stability.

Although their offering is limited in regards to flexibility and optional riders, they do provide dependable coverages for both children and adults, taking a traditional approach to life insurance that inspires confidence in their product.

Financial Strength

Key Details

Underwriter
Gerber Life Insurance Company
Marketshare
0.35%
Premiums Written 2019
$451,211,201
AM Best Financial Rating
A

Company Stability - 4.5 / 5

Gerber Life is licensed to provide life insurance products throughout the United States, Canada, and Puerto Rico.

The company services over 3.3 million policies, with more than $45 billion of life insurance in force.

Not surprisingly, Gerber Life has been awarded an A.M. Best rating of "A" (Excellent), the third highest score out of thirteen possible categories.
*The above information reflects the market share, premiums, and financial strength of the issuer of the Gerber Life life insurance policies: Gerber Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.59
NAIC Total Complaints 2017
17
*The NAIC complaint ratio (in this case 0.59) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Negative Reviews
7
Date Collected
2017-09-01

Reputation - 4.5 / 5

Although not yet accredited with the Better Business Bureau, Gerber Life Insurance Company maintains an A+ rating with the agency.

The complaints filed against the business have mostly been due to misconceptions about the types of policies purchased by their customers, and all seem to have been satisfactorily resolved by Gerber Life.

Gerber Life Policies

Gerber Life offers customers the following life insurance policies: Term, Whole Life.

Term Life Insurance

Minimum Age
18
Maximum Age
50
Minimum Death Benefit
$25,000
Maximum Death Benefit
$150,000
Available Terms
10 year
15 year
20 year
30 year

Policies & Coverage - 4.4 / 5

Gerber Life has insurance products available for people at every age and stage of life.

The company offers term, whole, universal, and guaranteed life insurance options for adults, as well as accident protection, senior life insurance, and child life insurance policies.

Gerber Life also extends a college savings plan and related resources to help parents make informed decisions about their children's future.

Flexibility and Available Riders

Flexibility & Available Riders - 0 / 5

Gerber Life offers a Payment Protection Option as an addition to their Grow-Up plan, which covers premium payments in the event the policyholder cannot meet the monthly premiums due to disability or death. However, Gerber Life falls short when it comes to offering optional coverages for their term and whole life insurance products, for which it remains among our bottom in regards to flexibility.

Additional Company Information

Homepage URL
https://www.gerberlife.com/home
Company Phone
(800) 253-3074
Headquarters Address
445 State St, Fremont, MI, 49412
Year Founded
1967

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Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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