Gerber Life Insurance Company
Frequently Asked Questions
Q: What is guaranteed issue life insurance?
A: Guaranteed issue life insurance provides life insurance coverage to applicants with health or lifestyle issues that may prevent them from qualifying for a traditional term or whole life insurance policy with a medical screening.
Q: Do I need a medical exam to qualify for coverage?
A: No, you will not need to complete a medical exam to qualify for a Guaranteed Acceptance policy from the Gerber Life Insurance Company.
Q: Will my rates ever increase in the future?
A: No, will Gerber’s Guaranteed Acceptance policy, your life insurance premiums will never increase, regardless of any changes to your age, health, or lifestyle.
Q: How much life insurance coverage can I buy?
A: Gerber Life’s Guaranteed Acceptance policy offers $5,000 to $25,000 of coverage to applicants between the ages of 50 and 80.
Q: Can my life insurance policy be canceled for any reason?
A: The life insurance company cannot cancel your life insurance policy for any reason if your premiums are paid, regardless of any health or lifestyle changes. If you decide to cancel your policy, you can do so at any time without penalties or fees.
Q: What do I need to know before buying a life insurance policy?
A: Before shopping for life insurance, we recommend reviewing your coverage needs and your budget to determine how much coverage you afford. Keeping your policy affordable could prevent you from falling behind on payments and losing coverage in the future.
Q: How much life insurance do I need?
A: Everyone’s need for life insurance is different and some people need more life insurance protection than others. Guaranteed issue policies are not designed to provide a replacement income, they were created to leave money behind for final expenses and burial costs.
Q: Who should I list as my beneficiary?
A: A life insurance policy’s beneficiary can be an individual(s), a trust, a business, a charity, or an estate. The beneficiary listed on your life insurance policy will receive the death benefit from your life insurance policy when you pass away.
Q: Does the policy pay out in the case of suicide?
A: During the first two years of your life insurance policy; suicide, whether sane or insane, is not covered. If the insured’s death is ruled a suicide during this period, the insured’s beneficiary will receive a refund of all the premiums paid into the policy plus 10% interest.
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What Is Whole Life Insurance?
The Gerber Life Insurance Company offers guaranteed acceptance whole life insurance to applicants until the age of 80. These policies provide fixed coverage and level rates that is designed to last for your lifetime.
A Guaranteed Life Insurance policy from Gerber Life also builds a cash value overtime by setting aside a small portion of your premiums each month. This amount can be borrowed from in the future (policy loan rate is 8%).
What our clients say
Wonderful and intuitive attention
This message is for your entire staff. Thank you all for the wonderful and intuitive attention I received during this experience. I so appreciated knowing what to expect and what was expected of me during the entire process. Kudos to you all!
Attentive and professional
A great thanks to Cliff who has been attentive and professional throughout the process.
The process was effortless
Jason and his team provided me outstanding service. From my initial e-mail requesting insurance quotes to my physical to getting me the best quote possible, the process was effortless.Thanks JRC.