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The Grow-Up ® Plan is a whole life insurance policy for a child that builds cash value. You’re the policy owner until your child reaches age 21. At that time, your child becomes the policy owner and is guaranteed lifelong insurance protection, as long as premiums are paid. Plus, your child has the option to buy additional coverage as an adult, regardless of health or occupation. Option to purchase additional insurance is through the Guaranteed Purchase Option Rider included on all standard issue policies.
After the initial policy years, e ach time you make a monthly premium payment for your child’s Grow-Up ® Plan, Gerber Life sets aside a small amount of that money. Over time, this becomes the cash value of your policy. This money is available for you to borrow against if you ever have the need for ready cash. As an adult, your child will have the option to turn in the policy and receive the available cash value. Click here to learn more about cash value.
The cost of a Grow-Up ® Plan varies based on the amount of coverage you choose, your child’s age at the time of your application, and the state where you live. Scroll below to get a free quote instantly.
No! With the Grow-Up ® Plan, your premium is guaranteed to stay the same for your child’s lifetime. In other words, your child will get more coverage at a better value.
Yes. You can borrow against the cash value, as long as premiums are paid, by taking a policy loan. Policy loans are subject to 8% interest rate and may impact cash value and death benefit. You can also surrender the policy and receive the available cash value.
No, there is no obligation to buy additional insurance. As long as premiums are paid, your child’s existing whole life insurance coverage will continue automatically. As an adult, your child is guaranteed the option to buy additional life insurance at our standard age-based rates should they want greater protection, no matter their health or occupation. Guaranteed option to purchase additional insurance is through the Guaranteed Purchase Option Rider included on all standard issue policies.
Once coverage begins, and as long as the premiums are paid, Gerber Life cannot cancel the insurance for any reason. Only you (or your child at age 21) can cancel the Grow-Up ® Plan.
Yes. If you decide to cancel the policy, you’ll receive the accumulated cash value that has built up over time, minus any outstanding debt against the policy. The same is true after your child becomes the policy owner.
You can pay your monthly premium by mail, by phone, or online using a checking/savings account or a credit/debit card. You can save 10% on your Grow Up premium by setting up automatic payments from your checking or savings account. You can also set up automatic payments to make managing your policy even easier through our eService platform.
You can apply for a Grow-Up ® Plan policy online, by mail or by phone. Applying online is quick and easy – just provide some basic information about you and the child you want to insure, and choose your coverage amount. Your application will be reviewed by our underwriting team and you will be notified as soon as it’s approved. You may be contacted by our underwriters if any additional information is needed to approve your application.
To apply for a Grow-Up ® Plan policy for another child, please complete and submit a new application. You can do this by filling out the form at the bottom of this page and following the easy instructions.
Yes. A child’s parent, grandparent or permanent legal guardian may apply for the Grow-Up ® Plan – a parent’s signature is needed only where required by law. The person applying is the policy owner until the child reaches age 21.
You should select the state that you live in when filling out the application.Policies issued in 2008 or earlier double on the anniversary date after the insured reaches age 21. Policies issued in 2009 or after double on the anniversary date after the insured reaches age 18.
Term life insurance is one of the most popular types of life insurance because it provides protection for a specified period of time – a "term” – and can cost less than other types of life insurance. Our Gerber Life Term Life Policy is available for a duration of 10, 20 and 30 years, choose the duration that works best for you and your family.
The amount you agree to pay when your coverage starts stays the same throughout your policy's term as long as premiums are paid.
At the end of the term your policy coverage ends. If you decide your family is still in need of coverage, you can renew your policy agreement at the premium rate for your age at that time – with no physical exam. This is a large benefit for those whose health may have changed during the policy term.
Term life insurance is popular because it’s one of the most affordable ways to protect your family financially after the loss of a parent or family provider. Term provides coverage for just the number of years you select, so it costs less than other types of life insurance. Family left behind as “beneficiaries” would have money available to pay bills, cover final expenses, or pay for future expenses such as a child’s education.
No medical exam is necessary in most cases. Coverage is dependent on answers to health questions. A physical may be necessary for cause or for applicants ages 51 and older who apply for more than $100,000 of coverage. In almost all other circumstances, Gerber Life’s customers will not need a medical exam.
A.M. Best, the impartial reporting firm that rates insurance companies on financial stability and ability to meet financial obligations, has awarded Gerber Life an “A+” (Superior) rating, most recently in January 2024. It refers only to the overall financial status of the company and is not a recommendation of specific policy provisions, rates or practices of the company. This rating is the second highest awarded out of thirteen possible categories.
Whole life insurance provides permanent life insurance coverage for your entire life, as long as you pay your monthly premium, and builds cash value over time. By comparison, term life insurance offers protection for only a specified period of time and typically does not build cash value.
After the initial policy years, each time that you pay your premium, the insurance company sets aside a small amount, which builds up over time as the policy’s cash value. The longer you hold the policy, the more cash value the policy builds. If a need arises, and as long as premiums are paid, you could borrow against the available cash value* to help cover lost income, rent or mortgage payments, education costs, or other expenses. Or, you can turn in the policy later on and receive the available cash value. *policy loan interest rate is 8%. Loans may impact cash value and death benefit.
The Gerber Life Whole Life Policy offers coverage from $25,000 to $300,000** to fit various needs and budgets. Choose a coverage amount that works best for you. Find out what your premium rates can be with a free quote. **Higher coverage amounts available up to $1 million for those who qualify. Call one of our friendly representatives for rates, 1-800-425-7542.
No, the amount you pay when your coverage starts is the same amount that you‘ll pay throughout the life of your Gerber Life Whole Life Policy. The sooner you apply, the lower your lifetime premium rate, since premiums are based on your age when your policy starts.
As long as premiums are paid, you can borrow against the available cash value that has built up in your Gerber Life Whole Life Policy. *policy loan interest rate is 8%. Loans may impact cash value and death benefit.
That’s your choice. You could pay back the borrowed money plus accrued interest, to make your policy whole. Or, if you chose not to pay it back, then the money borrowed plus accrued interest will be deducted when the policy's death benefit is paid or the policy is cashed in.
A medical exam is not necessary in most cases. Coverage is dependent on answers to health questions. A physical may be necessary for applicants who are age 51 and older and apply for more than $100,000 of coverage.
No. Once coverage begins and for as long as premiums are paid, Gerber Life cannot cancel your Whole Life insurance policy. You are the only person who could cancel the coverage.
This individual policy, available to you and your spouse, provides cash benefits in the event of a covered death or disabling injury as the result of an accident — 24 hours a day, anywhere in the world.
You can choose your coverage amount – from $50,000 to $250,000. Your coverage starts as soon as we receive payment for your first premium.You can pay by credit or debit card, check or money order. Premium payments that are automatically withdrawn from a bank account will receive an additional discount.
Monthly premiums are just $26.13 for $250,000.00 of coverage. Or choose $150,000.00 of coverage for only $15.68 a month. A $50,000 policy is just $5.23 a month.
No. Once you apply for accident protection insurance, your premium is guaranteed never to go up due to age or health.
This policy is available to anyone ages 18 to 69. No medical exam is required and there are no health questions to answer. Acceptance is guaranteed regardless of health.
Guaranteed* Life Insurance from Gerber Life is whole life insurance for adults between 50 and 80 years old (50 and 75 in New York). The coverage can last a lifetime once approved, regardless of profession or health. *Guaranteed coverage requires that applicant is a U.S citizen residing in the US or permanent legal guardian. Total limit of all combined Gerber Life Guaranteed life policies is $25,000.
Whole life insurance does not have a specified time period of coverage. You can own the policy for a few years or for the rest of your life, as long as you pay the premiums. Whole life insurance also builds "cash value." Cash value is money that is set aside by Gerber Life for your policy, which can be borrowed against if needed.* The longer you own the whole life policy, the more cash value you have in your policy. *Policy loan interest rate is 8%. Loans may impact cash value and death benefit.
Gerber Life offers a wide range of Guaranteed Life coverage options from $5,000 to $25,000 1 . Coverage is available in $1,000 increments. Our friendly representatives can help you determine the coverage that best suits you and your family. 1 South Dakota residents, maximum coverage of $15,000.
If you qualify, Social Security will only pay $225 toward your final expenses. Guaranteed Life Insurance from Gerber Life can be a smart choice to help offset these high costs.
Absolutely not. With Gerber Life, the amount you pay when your Guaranteed Life coverage starts is the same amount that you'll pay throughout the life of your policy. The only time your premiums may change is if you decide to increase your coverage or the frequency of your payments.
The Gerber Life Guaranteed Life Insurance policy comes with a graded death benefit limitation. It applies to the first two years of coverage when the policy is issued. For applicants age 50-80 (50-75 in New York) who die (for any reason other than an accident as defined in the policy) within the first two years of coverage, the death benefit will equal 110% of earned premiums. The full death benefit amount is only payable after the first two years of coverage (one year in ND). After the two-year Graded Period, if the insured dies for any covered reason, the full face amount of the policy will be paid to the beneficiary. If the Insured dies by suicide within two years from the Issue Date of the policy, or any shorter period as may be required by applicable law in the state where the policy is delivered or issued for delivery, the only amount payable by us will be the premium paid for the policy plus 10% interest, less any debt against the policy. Please refer to your policy contract for specific details regarding exclusions, limitations, benefits and shorter time frames that may vary by state.
Under current Federal law, the benefits are not generally subject to Federal tax if paid to a named beneficiary. Please consult your tax advisor; in some cases, estate or inheritance taxes may apply. Federally tax free under current tax law. Consult your tax advisor; in some cases, estate or inheritance taxes may apply.
No medical exam is necessary for the Gerber Life Guaranteed Life Insurance policy. If you are a U.S. citizen or legal alien between 50 and 80 years old and become approved, your coverage is guaranteed regardless of profession or health.
No. Once coverage begins, and for as long as premiums are paid, Gerber Life cannot cancel your Guaranteed Life Insurance. Only you have the option to cancel the coverage.
After receiving your Guaranteed Life Policy you will have 30 days to examine and accept your Guaranteed Life Insurance whole life coverage . If you decide that you no longer want the safety and coverage that your policy offers, simply return it for a full refund of all premiums that have been paid.
