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Gerber Life Insurance Review


Rating: 7.8 / 10 (Very good)
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Founded in 1967 and headquartered in White Plains, New York, Gerber Life Insurance is an affiliate of Gerber Products Company offering term and whole life insurance policies for both children and adults. The company, which services over 2.9 million policyholders nationwide, holds an A.M. Best rating of A (Excellent) and a BBB rating of A+.

How is Gerber Life rated?

Breakdown

9/10
Financial Strength
8/10
Customer Experience
7/10
Policies
6/10
Flexibility

Overall Rating: 7.8 / 10 (Very good)

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 2016
0.35%
Premiums Written 2016
$414,154,458
AM Best Financial Rating
A

Financial Strength - 9 / 10

Gerber Life is licensed to provide life insurance products throughout the United States, Canada, and Puerto Rico. The company services over 3.3 million policyholders and manages more than 45 billion in life insurance policies. 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 financial strength of the underwriter of the Gerber Life life insurance policies: Gerber Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAICS Complaint Ratio 2016
0.7
NAICS Total Complaints 2016
20
*The NAICS complaint ratio (in this case 0.7) is a ratio of the number of complaints a company received to the its 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

Customer Experience - 7.5 / 10

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. Because we feel that Term Life insurance is a superior choice for most customers, we've focused our review on the Gerber Life Term Life policy.

Term Life Insurance

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

Policies - 7 / 10

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 & Available Riders

Flexibility - 6 / 10

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 companies in regards to flexibility.

Additional Company Information

Homepage URL
Company Phone
(800) 253-3074
Headquarters Address
445 State St, Fremont, MI, 49412
Year Founded
1967

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