Gerber Guaranteed Issue Life Insurance Review – Pros & Cons

Gerber-Guaranteed-Issue-Life-Insurance-Review

Welcome to our Gerber Guaranteed Issue life insurance review! 

Gerber Life also provides life insurance products for adults and seniors…but they may not be your best choice.

In this article, we will evaluate the guaranteed issue life insurance plan of Gerber Life Insurance Company. After we are done with Gerber reviews, you will know if Gerber Life’s guaranteed issue final expense plan is right for you.

GERBER BURIAL INSURANCE FUNERAL FUNDS 5-STAR RATING
First-day Coverage
Ease of Approval★★★★
Coverage Amount
Pricing
Riders

FOR EASIER NAVIGATION:


IS GERBER GUARANTEED ISSUE LIFE INSURANCE FIRST-DAY COVERAGE?

No. Gerber guaranteed issue life insurance policy comes with a two-year waiting period since they don’t ask health questions and approves every applicant regardless of their medical condition.

This Gerber guaranteed issue life insurance review would examine the pros and cons of Gerber guaranteed issue life insurance.

PROS OF GERBER GUARANTEED ISSUE LIFE INSURANCE

Simple underwriting process – Gerber has no medical exam and no health questions to answer. This makes the underwriting quicker. Approval only takes several minutes instead of several weeks.

Simple application process – you will only need to provide personal information and beneficiary information on the application. It can be made over the phone or via email.

Flexibility – the death benefit is not tied to a funeral home. The death benefit payout is flexible and can be used by the beneficiary to pay final expenses or use it for any purpose they see fit.

Lifetime Coverage – Gerber guaranteed issue life insurance is a whole life policy which means that you are covered your entire life. The policy won’t expire as long as you pay the premium, your policy will remain in force for the duration of your life.

CONS OF GERBER GUARANTEED ISSUE LIFE INSURANCE

Higher Pricing – Gerber guaranteed issue life insurance is more expensive because they don’t ask health questions and therefore must charge more to accept the risk of insuring people who don’t qualify for plans that offer lower rates because they ask health questions.

2-Year Waiting period – Gerber guaranteed issue burial insurance requires a two-year waiting period before the full death benefits are paid out for a health or medical-related death. This policy does pay for accidental death from the very first day.

Limited benefit amount – burial insurance with Gerber has a maximum death benefit amount of $25,000. If you need more than $25,000 to cover your medical bills, debts, and end-of-life expenses, Gerber is not right for you.


GERBER BURIAL INSURANCE PRODUCT

A guaranteed issue life insurance policy from Gerber life provides life insurance protection, even if you had been declined for life insurance in the past. Approval is guaranteed regardless of health condition.

GERBER GUARANTEED ISSUE BURIAL INSURANCE FEATURES
Issue Age50 to 80 years old
Coverage Amount$5,000 to $25,000
No Medical Exam Everyone Accepted
No Health QuestionsEveryone Approved
Guaranteed ApprovalYes
Level PremiumPrice Never Increases
Level BenefitCoverage Never Decreases
Lifetime CoverageLast Until Age 121
Builds Cash ValueBorrow Emergency Money


GERBER BURIAL INSURANCE RIDERS

Unfortunately, Gerber Guaranteed Issue Life Insurance does not have any additional benefits or riders on their burial insurance plan. So, if you want to have an accelerated death benefit rider, critical illness, or terminal illness rider you are out of luck.


WHEN DOES GERBER BURIAL INSURANCE MAKES THE MOST SENSE?

Gerber guaranteed issue life insurance review: Is Gerber guaranteed issue life insurance right for you?

You must consider all your options before you settle for burial insurance like Gerber Life’s guaranteed issue life insurance. This plan can be simple and easy to apply, but it is not right for everyone.

Gerber guaranteed issue life insurance is the ideal coverage for senior citizens and adults who cannot medically qualify for life insurance coverage. Gerber life for seniors can help pay for the remaining medical debt, burial cost, and other final expenses.

It is always cheaper to apply for life insurance that asks health questions than a guaranteed life insurance policy.

You should only consider Gerber guaranteed issue life insurance if you have these high-risk conditions:

  • You have a chronic or terminal illness
  • You have organ or tissue transplant
  • You are currently on dialysis because of late-stage renal disease
  • You currently have cancer
  • You have been diagnosed with Alzheimer’s disease or dementia
  • You have HIV or AIDS
  • You are in a nursing home or hospice


GERBER UNDERWRITING GUIDELINES

Gerber Life doesn’t ask any health questions or require a medical exam. If you can pay the premium, they will approve your application regardless of your medical condition as long as you are between the ages of 50 and 80.


GERBER PRICING EXAMPLES

FEMALE AGE
$5,000
$10,000
$15,000
$20,000
$25,000
50
$17.69
$34.47
$51.24
$68.02
$84.79
55
$22.60
$44.27
$65.95
$87.63
$109.31
60
$25.99
$51.06
$76.13
$101.20
$126.27
65
$31.76
$62.61
$93.45
$124.30
$155.15
70
$38.23
$75.53
$112.84
$150.15
$187.46
75
$54.54
$108.17
$161.79
$215.42
$269.04
80
$88.64
$176.37
$264.09
$351.82
$439.54
MALE AGE
$5,000
$10,000
$15,000
$20,000
$25,000
50
$22.50
$44.09
$65.68
$87.27
$108.85
55
$29.43
$57.93
$86.44
$114.95
$143.46
60
$32.40
$63.89
$95.38
$126.87
$158.35
65
$43.04
$85.16
$127.28
$169.40
$211.52
70
$50.05
$99.18
$148.32
$197.45
$246.58
75
$70.22
$139.52
$208.82
$278.12
$347.42
80
$124.12
$247.32
$370.52
$493.72
$616.92

*Pricing for illustration purposes only and are subject to change without notice.


GETTING APPROVED FOR GERBER BURIAL INSURANCE

Applying for burial insurance with Gerber is straightforward. You can be approved by phone or via your computer with a licensed agent.

  • Your independent agent will pre-qualify you over the phone and will assist you in filling out your e-application. Your agent will ask you basic information such date of birth and social security number.
  • Your agent will ask your beneficiary information
  • You will be required to submit your payment information
  • You will need to provide a voice signature or email signature
  • They will verify your payment options
  • After you make your first premium payment, your policy is active
  • You will receive your policy in the mail within 5-10 business days on average after you pay your first premium.

The entire application process can be completed electronically in several minutes. To make your application quicker, have your important information readily available such as social security number, beneficiary, and payment information.


THE BEST PAYMENT OPTION

PAYMENT METHODRECOMMENDED?
Savings AccountBest way to pay
Checking AccountBest way to pay
CashNot recommended
Money OrderNot recommended
Cashier's CheckNot recommended
Debit CardNot recommended
Credit CardNot recommended
Direct ExpressNot recommended
PAYMENT FREQUENCYRECOMMENDEDACCEPTED BY
MonthlyRecommendedAll Companies
QuarterlyNot RecommendedSome Companies
Semi-annuallyNot RecommendedSome Companies
AnnuallyNot RecommendedSome Companies


GERBER LIFE INSURANCE COMPANY OVERVIEW

Gerber Life offers insurance through all 50 states, Puerto Rico and Canada. Their headquarters is located in Fremont, Michigan, with additional offices in Toronto and Ontario, Canada. They have more than $45 billion of life insurance in force which helps provide financial security through over 3.3 million policies.

Gerber Life Insurance Company was created in 1967 as a subsidiary of Gerber Products Company (the baby food people). It is one of the biggest direct-marketing life insurance companies in the U.S. Their mission is to be the brand parents trust to help them achieve financial security and protection for their families. They sell insurance policies directly to consumers, and there is no middleman. You can get Gerber Life Insurance quotes online, and applications are available through a simple system.


Financial Rating:

Gerber Life Insurance Company has high rating levels with multiple rating services. A.M. Best, the industry’s authority on insurance companies’ financial stability, gives “An Excellent” rating to Gerber Life. It means the company will have no difficulty paying insurance claims or meeting financial obligations in the future. Although Gerber Life Insurance Company is not Better Business Bureau approved, the company has been given a grade of A+ by the BBB.

Gerber is perhaps the most recognizable brand in juvenile life insurance…but they may not be your best choice.

We hope our Gerber Guaranteed Life Insurance Review answered all your questions. We also have reviews on MassMutual, Colonial Penn, Lincoln Heritage, Lumico, TruStage, Mutual of Omaha, and AARP.


HOW CAN FUNERAL FUNDS HELP ME?

The reality is that inexperienced and less knowledgeable insurance agents will cost you loads of money by selling you overpriced burial and final expense policies.

Getting an affordable burial or final expense policy doesn’t have to cost an arm and a leg.

Our job at Funeral Funds is to be the most knowledgeable burial insurance expert available. By doing so, we can knock it out of the park and get you the most accurate quote and affordable rates.

Once we know more about your age and health history, we can accurately give you burial insurance quotes from the final expense companies that best fit you.

With access to all the best final expense insurance companies, we will help you understand your best options, given your current age, health, and financial situation.


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