- There are no exams or health questions (acceptance is guaranteed).
- The policy lasts forever and has a fixed rate.
- Flexible payment options include ACH, credit card, or mailing in a money order or check.
- 24-month waiting period for any natural cause of death.
- Much lower prices are available with other providers.
- No options above age 80.
AM Best’s Financial Strength Rating (FSR) is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores range from A++ to D-.
Moody’s Investors Service rates the creditworthiness of companies. The Moody’s Rating Scale has 21 possible scores ranging from “Aaa” (highest mark) down to “C” (lowest mark).
S&P Global Inc. issues credit ratings on a scale from “AAA” (highest rating) to “D” (lowest rating).
The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.
The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB seeks and uses information directly from businesses and from public data sources. BBB assigns ratings from A+ (highest) to F (lowest). If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.
How Does Gerber Life Final Expense Insurance Work?
Gerber Life’s final expense insurance is guaranteed issue life insurance with no health questions or medical exams. You are guaranteed approval. Like all guaranteed life policies, there is a two-year waiting period. If you die (except accidental death) within the first 24 months of the policy, Gerber Life will only refund 110% of your premiums.
When you die, Gerber will pay your loved ones the death benefit as a tax-free cash payment. There are no restrictions on how they spend the money, meaning the funds can be used for expenses other than funeral costs.
Since it’s a whole life policy, it will last your entire life, the rate will never increase and it builds cash value.
How Much Does Gerber Guaranteed Acceptance Burial Insurance Cost?
The cost of final expense insurance typically depends on your age, gender, state of residence, and health. However, Gerber Life burial insurance guarantees acceptance, so your health or tobacco habits do not affect the price. Below is a table with some sample premiums.
| Age & Gender | $5,000 | $10,000 | $25,000 |
|---|---|---|---|
| Female age 50 | $18 | $34 | $85 |
| Male age 50 | $23 | $44 | $109 |
| Female age 55 | $23 | $44 | $109 |
| Male age 55 | $29 | $58 | $143 |
| Female age 60 | $26 | $51 | $126 |
| Male age 60 | $32 | $64 | $158 |
| Female age 65 | $32 | $63 | $155 |
| Male age 65 | $43 | $85 | $212 |
| Female age 70 | $38 | $76 | $187 |
| Male age 70 | $50 | $99 | $247 |
| Female age 75 | $55 | $108 | $269 |
| Male age 75 | $70 | $140 | $347 |
| Female age 80 | $89 | $176 | $440 |
| Male age 80 | $124 | $247 | $617 |
| Source for monthly prices: Choice Mutual quote calculator. Rates are calculated at a non-tobacco rating, rounded to the nearest dollar, and are valid as of 08/07/2024. | |||
Should You Buy Gerber Life Final Expense Life Insurance?
Gerber Life guaranteed acceptance final expense insurance is a competitively priced no health question policy. If you happen to have very high-risk health conditions such as AIDS/HIV or dementia, then Gerber’s guaranteed acceptance policy is a good option.
However, most seniors needing insurance to cover funeral costs don’t need to resort to a guaranteed issue policy from Gerber Life, AIG, AAA, or USAA.
The primary drawbacks to a guaranteed issue policy are the two-year waiting period and the fact that it’s generally the most costly type of life insurance. The truth is that most people can qualify for a plan that asks questions about health. That usually leads to a policy with no waiting period and a lower price.
For most people who need burial insurance, Mutual of Omaha’s senior life insurance would be a better option.
Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.
- Gerber Life. https://www.gerberlife.com/about
- Western & Southern Financial Group Inc. https://www.westernsouthern.com/
- A.M. Best. https://ratings.ambest.com/CompanyProfile.aspx?BL=0&ambnum=7299&AltNum=14937299&AltSrc=3
- BBB. https://www.bbb.org/us/mi/fremont/profile/life-insurance/gerber-life-insurance-company-0372-15002380
- Trustpilot. https://www.trustpilot.com/review/www.gerberlife.com
- Google. https://www.google.com/search?q=gerber+life+fremont+MI&client=firefox-b-1-d&sca_esv=9267af3241730e66&sca_upv=1&ei=VOKsZqenD8WlkPIPxK-GwQU&ved=0ahUKEwinoYiEuNaHAxXFEkQIHcSXIVgQ4dUDCBA&uact=5&oq=gerber+life+fremont+MI&gs_lp=Egxnd3Mtd2l6LXNlcnAiFmdlcmJlciBsaWZlIGZyZW1vbnQgTUkyCxAuGIAEGMcBGK8BMgYQABgWGB4yBhAAGBYYHjILEAAYgAQYhgMYigUyCxAAGIAEGIYDGIoFMgsQABiABBiGAxiKBTILEAAYgAQYhgMYigUyCBAAGIAEGKIEMggQABiABBiiBEj8ElDGBFiVEXABeAGQAQCYAY0BoAGeCKoBAzUuNbgBA8gBAPgBAZgCC6ACwgjCAgoQABiwAxjWBBhHwgILEAAYgAQYkQIYigXCAgUQABiABJgDAIgGAZAGCJIHAzMuOKAHrVU&sclient=gws-wiz-serp#lrd=0x881940eb19895789:0xb568aa499238f0b,1,,,,
- Yelp. https://www.yelp.com/biz/gerber-life-insurance-company-fremont
- Facebook. https://www.facebook.com/gerberlife/
- NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=70939&REALM=PROD&COCODE=70939&REALM=PROD
- BBB Score & Accreditation. https://www.bbb.org/us/mi/fremont/profile/life-insurance/gerber-life-insurance-company-0372-15002380
