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Considering a burial insurance policy by Gerber Life Insurance? If so, make sure you read this piece. In this Gerber Life burial insurance review, we will thoroughly evaluate their final expense plan. By the end, you will know if Gerber Life’s burial insurance is right for you. In addition, feel free to check out about why we selected Gerber to be among the best burial insurance companies.
Shopping for burial insurance doesn’t have to be hard. Fortunately for you, we can make this really easy on you. Feel free to check out our other reviews if you are considering another company for your burial insurance. You will notice that we provide you with the most complete detailed reviews on the web. Our review articles always include a quick review and a long review. The quick review is pretty basic with our general thoughts on the company and their program. In contrast, the full review is far more detailed. It covers literally every aspect and leaves nothing to the imagination.
Our Quick Gerber Life Burial Insurance Review
Widely considered one of the most recognizable brands in America, Gerber is a pretty massive company. Their life insurance division, Gerber Life, has a rich history of providing all sorts of life insurance products to children, adults and seniors. In particular, their burial insurance program is very straightforward and easy to understand.
They only have one kind of policy. They offer nothing else other than guaranteed issue final expense. Basically, this is a final expense policy that has no health questions and does not require a medical verification of any kind. They issue the policy to everyone no matter what. The only real question is, should you go with a guaranteed issue policy or not? If yes, Gerber Life is probably the best company you can go with depending on who you buy from. Obviously, we highly recommend you let us help you get a Gerber policy if in fact a guaranteed issue plan is your best bet. With that, most applicants should not get a guaranteed acceptance life insurance policy. Please read the full review if you want to fully understand why we say this.
At the end of the day, Gerber Life offers an unbelievable value. Their guaranteed issue burial insurance is unquestionably the best on the market. However, you should only buy it once you know for certain that you can’t qualify for a burial insurance plan that has health questions.
In 1928, Gerber held a contest to find a face to represent their baby food. An artist drew a simple sketch of herself as a baby. Her submission went on to become the official trademark of Gerber. Today, the Gerber baby is one of the most widely recognized images in America.
Gerber is the undisputed leader in baby food. What most people aren’t aware of is that they do life insurance as well. Gerber Life Insurance Company is their official name.
Gerber Life insurance company is actually one of the largest purveyors of direct marketed life insurance in the USA. Gerber was founded in 1927. In 1967, they formed Gerber Life Insurance Company. This allowed them to offer a line of life insurance products aimed at young families.
Presently, Gerber Life has an “A” rating with A.M. Best. They have almost three million policies in force. Gerber has over $2 billion in assets under management. They are very stable financially which is critical for an insurance company. They are definitely an insurance company you can rely on to follow through on their promise to pay.
Gerber has a robust life insurance product offering. However in this article, we will be focusing on their burial insurance plan. Their burial insurance is a guaranteed acceptance life insurance plan.
The Full Gerber Life Review
Here you will find our complete review of Gerber Life’s final expense program. Since Gerber only has one option, its fairly straightforward. With that, we offer you our professional opinion about this plan given your options within the marketplace. If you have any questions or concerns about this content, please call us at 1-800-644-2926.
Gerber Life’s “Guaranteed Issue” Whole Life Burial Insurance
Choice Mutual Grade= A
Quick facts on this plan
- It will never expire
- The price will never change
- The benefits cannot decrease
- No health questions or medical checks
This final expense insurance is a guaranteed acceptance whole life policy. Guaranteed acceptance is also commonly referred to as guaranteed issue. Both labels mean the same thing.
On a side note, burial insurance is also commonly called final expense or funeral insurance. If you don’t fully understand what exactly burial insurance is and how its different, read this. Gerber’s guaranteed issue plan is whole life, so it will never expire. The monthly price will forever remain the same. The benefits never decrease. These policies won’t ever change in anyway.
Being guaranteed issue, they do not ask ANY health questions or check your medical history. They issue the policy to all who apply. You could literally have stage four cancer, be on dialysis, be on a transplant list, have HIV or AIDS, or have Alzheimer’s. There is simply no reason they would deny anyone. Everyone gets approved.
Because everyone is accepted without going through some sort of underwriting process, there is a two year waiting period. This is mandatory and cannot be avoided. It’s important to note, ALL insurance companies that offer guaranteed issue burial insurance impose a two year waiting period.
For example, AARP and Colonial Penn both have guaranteed acceptance burial insurance. They both have the same two year waiting period. There are over a dozen companies that offer guaranteed issue burial insurance. Every single one has a two year waiting period.
Insider Tip: Never buy guaranteed acceptance final expense insurance from AARP or Colonial Penn. Their prices are much higher than many other companies (especially Gerber). Why pay more for the exact same product, when you could get it much cheaper from many other insurance companies?
The waiting period lasts exactly two years. During this time, Gerber will not pay the death benefit if you should pass away. If you do pass away during the first two years, they will refund ALL the premiums you have ever paid to them. They will also add on 10% interest. 10% isn’t a ton, but it’s certainly better than nothing. You certainly can’t lose any money with this plan.
It is possible for Gerber to pay out the death benefit during the waiting period. If you were to pass away from an accident, they would pay the death benefit in full. Believe it or not, this is standard procedure for nearly every life insurance company.
As you can probably imagine, they get some very unhealthy applicants who apply for this plan. The two year waiting period is a very necessary safeguard. Without it, they would have many people sign up who have only a short time left to live. Their losses would be catastrophic. Their balance sheet would be in the red in no time.
The minimum face amount you can purchase is $5,000. You can get a maximum face amount of $25,000. Probably the best thing about this guaranteed issue plan by Gerber is the price. There are over a dozen insurance companies on the market that offer guaranteed acceptance burial insurance. The only difference among them all is what they charge for the insurance.
Presently, Gerber Life and Mutual of Omaha have the lowest rates out of them all. Gerber and Mutual of Omaha are extremely close in price. In most cases, they are less than two dollars difference in their pricing. These rock bottom prices make it possible for anyone, regardless of their health, to get some final expense coverage.
Most other companies that offer guaranteed issue burial insurance have much higher premiums. In all honestly, we really don’t blame them. No health questions or medical checks inevitably leads to a lot of applicants with very serious health problems. However, Gerber Life has premiums that are absolutely low enough to make it possible for anyone to get some quality coverage at an affordable price.
When is Guaranteed Issue Right For Me?
This is the question that must be answered. Guaranteed issue is not right for everyone. Do not get hung up on the fact that they don’t ask health questions or check your medical history. Sure it may sound easy to apply, and that is certainly true. However, there is a price you pay for this “convenience”. There are two drawbacks to a guaranteed issue burial insurance policy.
First, there is the aforementioned waiting period. Nobody is protected during the first two years. This is an obvious problem that really needs no explanation. The second and biggest drawback to a guaranteed acceptance policy is the monthly price. The price on a guaranteed issue policy is absolutely going to be higher compared to a policy that does have health questions.
The key thing to determine is, which one should YOU go with? The answer to that question is decided by your health. For starters, if your health is such that you would say no to all the health questions on an underwritten burial insurance, you should absolutely do it.
You will pay less, and you will get immediate protection. That is what you stand to gain by not defaulting to a guaranteed issue plan. A burial insurance with health questions will always cost less and have immediate protection. Who wouldn’t want that if they could qualify for it?
If your health would cause you to say yes to some health questions, it may be still be appropriate to go with an underwritten plan. However, depending on which questions you answered yes to, it may be in your best interest to go with the guaranteed issue policy. It’s going to come down to your overall health profile.
There are so many different health issues people endure, and tons of different medications. Time is also a major part of this equation. How long you have been afflicted by a condition, and how long you have been on medications are both factors that are considered.
This may sound complicated, but it’s honestly easy work for an experienced agency like ourselves. Speaking plainly, this is one of the major advantages of working with an experienced independent agency like Choice Mutual. We can quickly assess your health situation, and advise you accordingly.
we can quickly determine if guaranteed issue is right for you or not.
Because we are independent, we have many insurance companies to choose from that might have a good burial insurance for you.
This whole situation is very similar to going to your doctor. When you see your doctor, you just tell him what problems you are dealing with. Part of his job means he will always ask you some questions to gather information. He doesn’t expect you to know what treatments you should pursue. He is the professional in his field, and its his job to know what treatment would best suit you!
It’s the same with us. It’s our job to know everything about all the burial insurance companies out there (and we do). It’s our job to know their underwriting guidelines, and what health issues they accept. It’s our job to know if you, based on your health, would qualify or not. It took many years, and thousands of applicants to get to this level of understanding. For us, its like riding a bike now.
In general, those with very major health issues are the ones who are truly best served by a guaranteed acceptance final expense plan. There are some health conditions where a guaranteed issue policy is their only option. Here are some examples of different health issues that would warrant a guaranteed issue policy:
- Congestive heart failure
- Alzheimer’s or dementia
- Heart attacks or full blown strokes within the last year
- You require assistance with daily activities due to a disease
- You are receiving home health care due to a disease
- You are on oxygen (except for sleep apnea)
- You currently have cancer
- HIV or AIDS
- You have had or are awaiting a bone marrow or organ transplant
There are other scenarios where we would recommend that you go with a guaranteed issue plan, but that list covers most of them. We can’t write out every situation, for the list would be massive. As we said, an experienced independent agency like us can easily guide you on what route you should go.
Quick help: NEVER make the mistake of assuming your health issues mean you SHOULD get a guaranteed issue plan. 90% of our customers are NOT best served by this kind of policy. Before you do anything, speak with one of our agents. We can provide you with hassle free unbiased guidance about what you should do. Don’t run the risk of paying more, and having a waiting period when you could be qualifying for a cheaper plan that has immediate benefits! Fill out the quote form or call us. We will be in touch shortly to help guide you.
Again, your health is the only factor that determines if you should go with a guaranteed issue policy. If you can qualify for a plan with health questions, it will be best for you, your pocketbook, and your family. We urge you to allow an agent to assess your situation and advise you properly. You will save time and money by doing so.
Gerber Life Summary
Gerber Life’s guaranteed issue burial insurance is easily the best guaranteed acceptance policy on the market. Gerber is a well respected and financially sound company that can be trusted. If your health should warrant a guaranteed acceptance policy, don’t make the mistake of going elsewhere.
If guaranteed issue is indeed right for you, we genuinely recommend you get it from Gerber (hopefully through us). Here is why we say that. Take note, we are fully aware that Mutual of Omaha in many cases is 50 cents to a dollar cheaper than Gerber. Having said that, there is incredible value in working with a professional independent agency. With Mutual of Omaha’s guaranteed issue plan, you can’t have an agent. With Gerber, you can. More specifically, with Gerber you can work with a reputable, experienced independent agency like Choice Mutual.
To sign up for Mutual of Omaha’s guaranteed issue burial insurance, you have to get it by dealing directly with the insurance company. You cannot buy it from an agent or agency.
Mutual of Omaha actually has another final expense plan called “Living Promise”. It’s a wonderful whole life burial insurance plan, and it has health questions. Their Living Promise plan is far superior to their guaranteed acceptance plan if you can qualify for it.
Living Promise would be cheaper, and it would have immediate day one coverage. There would be no waiting period. We sell this Living Promise plan regularly. If you were to ask us to help you get Mutual of Omaha’s guaranteed issue burial insurance, we couldn’t assist you. Mutual of Omaha only allows it to be sold directly by them without the use of an agent.
Going back to our original point, the lack of an independent agent is very problematic. In the future, your situation will change. More than likely, you will have further life insurance needs. For example, many people add coverage down the line. Guaranteed issue might be your best option now, but in the future that might not be the case. You might even want to get coverage on your spouse or someone in your family. There are many reasons why people have future life insurance needs.
Ask yourself: “Whenever I have a life insurance need, do I want to get the best price from the best company?”
Of course you do! This is why having a relationship with an independent agency is so valuable. Be it today, tomorrow, or the next day, we can always fulfill our promise to do right by you. We don’t serve the insurance companies. We serve YOU!
Do you value quality relationships? If you do, you won’t get that by dealing directly with a customer service rep at Mutual of Omaha.
Because we are independent, we have access to all the top rated burial insurance companies on the market. Furthermore, we have literally helped thousands of families with their burial insurance. We have encountered virtually every health issue you could imagine. At this point in time, we have seen it all.
The freedom to choose from any insurer is what allows us to always do what is best for you. Our experience is what allows us to know which of the insurance companies would be your best fit.
Is that package worth 50 cents or a dollar to you? If so, welcome home. Choice Mutual will be the last burial insurance relationship you will ever need.