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finder.com's rating: 3.5 / 5
★★★★★
Bottom line: Gerber has several options for insuring children, but getting life insurance for your child might not be right for you unless you’ve exhausted other savings and investment plans or child riders.18 to 70
Issue Age
$10,000 to $300,000
Coverage
Depends on policy
Medical Exam Required
Policies | Term, whole |
---|---|
Coverage maximum | $300,000 |
Term lengths | 10, 20 or 30 years |
Medical exam required | Depends on policy |
Available states | Not all plans available in NY |
Issue age | Not listed |
Riders |
Accelerated death benefit rider Guaranteed insurability rider Payor benefit rider Waiver-of-premium rider |
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Review by
Megan Shepherd is an insurance editor at Finder, committed to delivering precise, informative content to help readers evaluate their insurance coverage options. A licensed insurance agent in health, life, disability and general lines of coverage, Megan's expertise is also seen on CarInsurance.com and backed by more than four years of providing guidance in the industry. She earned her BS at the University of Texas at Dallas and enjoys tuning up her backhand on the tennis court.
Gerber life insurance specializes in permanent policies designed to support parents and children as they grow, at an affordable rate.
It also offers term life insurance with wide coverage levels, if you prefer. You can access info easily on Gerber’s website, and run a quote in less than five minutes.
You’ll have a wide variety of no medical exam policies, but if you’re looking to build cash value that you can use toward your child’s education, a savings or 529 plan might reap bigger rewards.
Using Gerber’s online quoting tool, we pulled sample rates for a $150,000, 20-year term policy based on a healthy, nonsmoking man and woman.
Age | Man | Woman |
---|---|---|
20 | $27.13 | $20.88 |
30 | $32.25 | $25.63 |
40 | $49.88 | $38.88 |
50 | $91.25 | $66.00 |
Gerber doesn’t disclose any specifics about its rating classes on its website, which is common but suggests less transparency than insurers who do detail this information.
However, any of the following lifestyle and health factors could lower your chance of paying low rates:
You can contact Gerber life insurance by phone at 800-704-2180. Otherwise, you can start the quote process online by following these steps:
A child’s life insurance policy may not give the best protection, even with a college savings feature.
You may get a better investment return from a high-interest savings account or 529 plan. Plus, standard policies offer child riders that extend your benefits to your kids until they’re age 25.
At that point, you often can convert them to individual policies. It’s worth checking out life insurance with child riders to score the most value.
You can find a wider mix of policy types with other companies, but it’s not unusual for Gerber to specialize in whole life insurance. You will find a small term life policy in the mix.
Gerber has a term life option that’s comparable to other companies, with coverage ranging from $25,000 to $300,000, terms for 10, 20 or 30 years and payments from $15.42 monthly.
Gerber offers traditional and unique whole life plans with coverage up to $150,000 and options for a growing kid’s needs. You also can build cash value and borrow from it at 8% interest, a typical rate for this policy.
Its whole life plans include:
Yes. Gerber’s guaranteed life insurance serves as burial insurance for seniors ages 50 to 80. You can buy $5,000 to $25,000 in coverage — and loved ones can use the funds to cover your funeral and end-of-life expenses.
Gerber’s website doesn’t give much info about its policy add-ons, but the few it does mention includes unique options and free living benefits:
Founded in 1967, Gerber life insurance has been in the industry for over 50 years, proving it has a long-standing financial history and the likely ability to pay out claims. Gerber is accredited with the Better Business Bureau with an A+ rating, as of October 2020, signaling good customer support.
AM Best also awarded an A rating, suggesting Gerber’s ability to pay future claims. Also, customers on many review sites say that Gerber’s online application is easy to navigate.
However, Gerber settled a lawsuit in August 2020 for over $1 million due to claims violations and delayed payouts. At first, people were denied accidental death and dismemberment (AD&D) claims for their children and were asked to give unnecessary documentation.
Some people sued to receive benefits. Since the lawsuit centered around its death and dismemberment policies, you might think twice before choosing Gerber’s AD&D policy.
Gerber specializes in child and young adult life insurance, not a typical focus for most life insurance companies.
Its college savings policy is unique on the market, though it may not return as much as other investments like 529s. Gerber also offers guaranteed-approval whole life policies, ideal for high-risk applicants.
However, Gerber’s policies may not have cheap premiums. Based on our sample quotes, a $150,000, 20-year term policy for a 30-year-old man costs $32 a month. That’s almost double the average $17 a month for the same policy with $250,000 in coverage.
If you’re looking to insure a child or teen or don’t qualify with other companies, Gerber might be worth a quote. But you might keep shopping if you want highly rated service.
See how Gerber stacks up to other companies’ coverage, cost and benefits. Tap the Compare box to see up to four companies side by side.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry. Gerber receives three and a half out of five stars for fewer than average policy customization options and a higher than average number of customer complaints.