People purchase life insurance for any number of various reasons. While some people are in good health and are therefore able to easily qualify for this coverage, there are others who may not be quite as fortunate. Even if you have a health condition or work in a risky occupation, it does not mean that life insurance isn’t attainable for you. One way to go about getting the protection you need may be through a no exam life insurance policy.
Before moving forward with a purchase, though, it is important to make sure that you are going with the proper type and amount of coverage, and that the insurance company you plan to purchase through is strong and stable financially, and that it has a good reputation for paying out its claims. One carrier that meets these factors is Gerber Life Insurance Company.
The History of Gerber Life Insurance
Gerber Life Insurance Company – which is an affiliate of Gerber “the baby food” Company – has been in existence since 1967. Headquartered in White Plains, New York, Gerber’s parent company, Gerber Products, is a subsidiary of Nestle. (Gerber Life Insurance Company has its headquarters in Fremont, Michigan).
Although nobody likes to think about it, accidents can and do occur. Therefore, it is important for both parents and their children to be protected with the coverage that life insurance can provide. By providing affordable, industry-leading child life insurance plans, in addition to other adult life insurance coverage, Gerber Life Insurance Company strives to provide its customers with the comfort and the peace of mind that they deserve.
Today, Gerber Life Insurance Company has more than $33 billion of live insurance coverage in force, and the company has more than 2.9 million policies that cover insureds in the United States, as well as in Canada and Puerto Rico.
Gerber Life Insurance Company Insurer Ratings and Better Business Bureau Grade
Gerber Life Insurance Company’s financial strength has garnered its high ratings from the insurer rating agencies. This includes a grade of A (Excellent) from A.M. Best Company. (This grade is as of May 2017).
In addition, even though Gerber Life Insurance Company is not Better Business Bureau (BBB) approved, the company has been given a grade of A+ by the BBB, which is on an overall grade scale of A+ to F.
Over the past three years, Gerber Life Insurance Company has closed out a total of 81 customer complaints – of which 21 were closed out within the past 12 months. Of the 81 total complaints, 49 of them had to do with problems with the company’s product and/or service, while 16 were related to advertising and/or sales issues, 11 had to do with billing and/or collection issues, and the remaining 5 were concerning delivery issues.
No Exam Life Insurance Offered By Gerber Life
There are several no exam life insurance policy options that are offered via Gerber Life Insurance Company. Because there is no exam required – which includes no blood and urine sample taken by a paramedical professional – the approval for this type of coverage can be much faster than that of a fully underwritten life insurance policy. (In some cases, an applicant may even be approved for coverage on the same day they apply).
One of the no exam life insurance policies that are offered through Gerber Life is the Gerber Grow-Up Plan. This is a whole life insurance policy – meaning that it offers both death benefit protection, as well as a tax-deferred cash value component – that is available to applicants who are between the ages of 14 days and 14 years. Protection starts at $5,000, and this cannot be decreased. Likewise, the policy cannot be canceled, other than for the non-payment of the premium.
The premium is very affordable – frequently as little as just $1 per week. As long as premiums are paid, this plan will continue to accumulate cash value over time. Therefore, the policyholder can opt to borrow or withdraw these funds in the future for use with college tuition, a down payment on a home, or any other need that he or she sees fit.
When the child / insured turns age 18, the amount of the coverage on the Gerber Grow-Up plan will automatically double, with no increase in the cost. And, the child has the option to keep the policy as they move into adulthood.
For children who are older, Gerber offers the Young Adult Plan. Applicants for this plan may be between the ages of 15 and 17. This is also a whole life insurance policy, and there is no medical examination required for approval.
For adults, Gerber offers a no medical exam term policy, as well as no medical exam permanent policy alternatives. The Term Life policy offers coverage options that range from $25,000 up to $150,000 with premiums of as low as $8 per month. In most cases, there is no medical examination needed for applicants who are between the ages of 18 and 50 and who are applying for coverage of up to $100,000.
This term life insurance policy can be purchased in a variety of time lengths, including 10 years, 15 years, 20 years, or 30 years. And, a guaranteed premium rate is locked in for the duration of the policy.
For those who are seeking permanent life insurance protection, Gerber Life offers a whole life insurance policy option. This policy covers the insured for the rest of his or her life (as long as the premium payments are made).
Coverage may be purchased that ranges between $25,000 up to $150,000 – and for those who are between 18 and 50, and who are applying for protection of up to $100,000, there is no medical exam required.
While life insurance underwriters will still review an applicant’s health question with no exam coverage, there are also options available for those who have adverse health issues. One such option is a guaranteed life insurance plan. The Gerber Life Guaranteed Life Insurance Plan offers valuable whole life insurance that can help with covering one’s funeral and/or other final expenses, such as burial costs, unpaid debt, and uninsured medical costs.
For applicants who are between the ages of 50 and 80, acceptance is guaranteed – regardless of health history. The amount of death benefit coverage can range from a low of $5,000 up to $25,000. And, once approved, the plan will remain in force, as long as the premium is paid.
Because this is a whole life insurance policy, the Gerber Life Guaranteed Life Insurance Plan also builds up cash value on a tax-deferred basis. The policyholder is allowed to borrow or withdraw these funds for any reason. The application for this policy can be completed in just minutes, and approval can occur on the very same day.
Other Products and Services Available
Gerber Life Insurance Company also offers other life insurance coverage options, as well as accident protection. With Gerber’s Accident Protection Insurance Plan, individuals can choose a coverage amount of either $20,000, $35,000, $50,000, $75,000 or $100,000.
The Accident Protection plan is available to anyone who is between the age of 19 and 69 at the time of application. And, acceptance is guaranteed. Once approved for this policy, the amount of the premium will not increase – even as the insured gets older, and even if he or she contracts an adverse health condition in the future.
How to Get the Best Premium Rates on No Exam Coverage with Gerber Life
For those who are seeking the best premium rate on no exam life insurance coverage through Gerber Life Insurance Company – or for that matter, from any life insurance carrier – it is typically best to work in conjunction with a life insurance agency or brokerage that is independent. That way, they can show you comparisons of policies and rates from many different insurance providers – and from there, you can then determine which one will be the best for you, and for your budget.
If you are ready to move forward, we can help. We work with many of the top no exam life insurance companies in the marketplace today, and we can provide you with all of the key details that you need. We can do this for you quickly and very easily, all from your computer. When you are ready to begin this process, just simply take a moment to fill out the information needed on the quote from today.
Should you find that you still have any additional questions or concerns, our experts are here to assist you. Please feel free to reach out to us directly via telephone, toll-free, by calling 800-277-3098.
Even though the purchase of life insurance coverage may be a bit overwhelming, it is important that you lock in your protection, as well as your peace of mind. Doing this can be much easier when you are working with an ally on your side. So, contact us today – we’re here to help.