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Gerber Guaranteed Issue Burial Insurance Review
Are you looking for a burial insurance policy to cover your final expenses? The Gerber Guaranteed Issue Burial Insurance product is a great choice for those who have more serious health conditions because all applicants are automatically approved. Gerber has been selling insurance since 1967 and has several different insurance products available. Gerber Life Insurance company is headquartered, in White Plains, New York and is one of the largest providers of life insurance in the US. Gerber has over 3 million life insurance policies in force. This review will be focusing on their Guaranteed Issue Life Insurance product which is mainly used to cover your final expenses for burial.
Gerber Guaranteed Issue Burial Insurance Plan Highlights:
-Issue Age is 50-80 years old
-Face amounts of $5000 to $25,000 are available (Max. face amount in South Dakota is $15,000)
-Easy application – No health questions
-Approval is guaranteed regardless of health
-Builds cash value so you can borrow against it in an emergency
-Payment options including checking, savings, credit cards and direct express
-Most policies issued in 3-5 days
-Smokers get the same rates as non-smokers
-No Medical Exams
Why choose the Gerber Guaranteed Issue Burial Insurance plan?
There are levels of approval when choosing burial insurance. Sometimes this type of insurance is also called funeral insurance, final expense insurance, whole life insurance, and senior life insurance. The first level of coverage is preferred or also called level coverage. Preferred coverage is for those in good health and they have coverage from day one. The next level is coverage often called Graded, Graded plans phase in the death benefit over a two year period for people with some health issues that prevent them from qualifying for preferred coverage. Some clients have even more serious health problems which means they are declined for coverage with many companies. Thankfully, that is where the Gerber Guaranteed Issue Insurance plan comes in. Gerber and a handful of companies offer coverage for those who need it the most- people with serious health concerns who are turned down elsewhere. This is reason the Gerber Guaranteed Issue is poplar because Everyone is approved.
Gerber Guaranteed Issue
The Gerber Guaranteed Issue Insurance plan is great option for many individuals who can’t qualify for preferred coverage. Guaranteed Issue = Approved! Unfortunately, this plan has a 2 year waiting period which is why Assurance Life ONLY offers the plan when we can’t find one of our many carriers to offer you preferred Coverage.(this doesn’t happen very often) With access to 25 different life insurance companies, MOST of our clients qualify for preferred/level coverage.
What is guaranteed in this plan? Two things. First, your monthly payment with never change so your rate is guaranteed to not change. Second, this type of policy is a guaranteed issue plan so EVERYONE is guaranteed acceptance. Once again, no health questions and no medical history checks. This makes this plan very unique compared to other burial insurance companies since EVERYONE IS APPROVED.
So what does a 2 year waiting period mean? It simply means if the insured’s death occurs within the first two policy years for any reason other than an accident, all the premiums will be paid back with additional 10 percent. That is a better rate of return than most banks! After two years, the Gerber Guaranteed Issue plan pays out the entire death benefit to your beneficiary.
Gerber Sample Rates
Sample monthly rates on Gerber Guaranteed Issue Burial Insurance Plan. Rates are for male ages 50-80. Face amounts from $5,000 to $25,000. Rates subject to change.
Why Assurance Life?
Assurance Life specializes in helping individuals find the RIGHT burial insurance plan for your individual needs. Our goal is always to find the best plan and the cheapest life insurance coverage around. Since we partner with over 25 different burial insurance companies, we can always save you money and find you the best coverage based on YOUR health. Let us help you make this important decision. Preparing for your final days can be mentally exhausting and often times very confusing with all the different options. Let Assurance Life help you in your journey with your funeral insurance. We do this everyday. We know what you need! ** Gerber just raised their prices in Dec 2017. However, still one on lowest price carriers for this type of coverage.
Why it is important to use an independent broker?
This one is very important when looking for no medical exam burial insurance. Using an independent agent saves you a lot of money and can save you a lot of time during the buying process. Most independent agents like Assurance Life have access to many burial insurance companies that they work with. This is important because each burial insurance company will view your health conditions differently. So finding the right plan and right company based on your individual health situation is critical. This assumes you like to save money and want the right policy for your needs. Buying direct from one insurance company is often Not in your best option. They will only have one plan available to choose from and only one price. Plus, one company means one set of rules when it comes to underwriting. You need an independent agency with multiple funeral insurance companies working for you to find the most coverage at the lowest price. This is the best way to find an guaranteed issue life insurance policy with no medical exam. We hope you enjoyed our Gerber Life Insurance review. You can call us at 800-527-0810 and one of our licensed agent will assist.