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Recommended Reading: P& c Insurance Digital Transformation Need Help Choosing Were Here To Help Lets check out Gerbers average rates for term life insurance. Life insurance is actually more affordable than most people think 44 percent of millennials overestimated the cost of life insurance by five times. Within the same study, 61 percent said they dont buy life insurance or more of it because they have other financial obligations. You must make sure your death doesnt bring a financial burden to add on.Īccording to the 2018 Insurance Barometer Study by LIMRA and LifeHappens, 35 percent of households would feel the financial impact of the loss of the primary wage earner within one month. The time after a loved ones death can be overwhelming and confusing. No one is ever prepared for a loved one to leave them. No health questions, no medical exam, no hassle Shopping For Life Insurance In addition to helping protect your family financially, this whole life insurance also benefits you by building cash value and by not requiring answers to health questions or a medical exam. Guaranteed-acceptance insurance, such as the Gerber Life Guaranteed Life Plan, can help reduce the financial burden that your loved ones may have to bear. If you were no longer here, would your family be able to cover your final expenses and any debt you leave behind? Quick Facts About Guaranteed Life Insurance An exam is required for ages 51 and older who apply for more than $100,000 of coverage. Most people will not have to take a medical exam and many will get a decision on the application in minutes. Term life: Terms of 10, 20 or 30 years are available for $100,000 to $300,000 of term life insurance coverage for adults. The rate of return varies depending on the policy. Typically a policy would insure a parent, and the maturity date would be timed to coincide with a childs high school graduation. The product is an endowment life insurance policy, which pays out a lump sum on a certain date or when the insured dies, whichever comes sooner. » MORE: Should you buy life insurance for children?Įndowment life insurance: The Gerber Life College Plan is pitched as a college savings plan that doubles as adult life insurance.

Parents or grandparents can purchase this for teens ages 15 to 17. Gerber also offers a whole life policy for teens. The coverage amount doubles at age 18, and the child becomes the policy owner at age 21. Parents, grandparents and legal guardians can apply when children are between 14 days and 14 years old. Whole life for children: The Gerber Life Grow-Up Plan is a whole life insurance policy for children with coverage options of $5,000 to $50,000. ABC Family Paid Programming – The Gerber Life Grow-Up Plan (2003)

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