Grow Up Product Brochure Gerber Life Insurance Company
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Summary
Grow-Up® Product BrochureChildren’s Whole Life InsuranceGive your Children and Grandchildren a Meaningful Gift that Lasts aLifetime with the Grow-Up® Plan • Child-size premiums–that never increase • Coverage doubles automatically during age 18 • Guaranteed future insurability for your child • Coverage available up to $50,000 for children 14 days to 14 years oldAn affordable way to help secure your child’s financial futureLife insurance coverage that protects and builds cash value!Coverage up to $50,000 with child-size premium ratesAs a caring parent or grandparent, you want to give the children in your life everyadvantage possible. The Grow-Up® Plan is a simple and budget-minded way to getthem started on the right path
Not FDIC Insured | Not Bank Guaranteed | Not a Deposit or Other Bank Obligation GU-AM (0620) It is whole life insurance protection that builds cash value to help your child or grandchild prepare for the Sample Monthly Premium Rates1 future. It has child-size premiums that never increase
You are the policy owner until the child reaches age 21, $10,000 $15,000 $20,000 $25,000 $35,000 $50,000 Age Coverage Coverage Coverage Coverage Coverage Coverage at which time the child becomes the policy owner
Under Coverage grows as your child grows 1 year $7.26 $10.88 $14.51 $17.44 $24.42 $34.89 During age 18, the Grow-Up® Plan policy amount 1 $7.54 $11.32 $15.09 $18.11 $25.36 $36.22 doubles automatically. For example, a $10,000 policy 5 $8.54 $12.80 $17.07 $20.56 $28.78 $41.12 doubles to $20,000, a $15,000 policy doubles to $30,000 and so on–with no increase in your monthly 10 $10.06 $15.08 $20.11 $24.17 $33.83 $48.33 premium. That’s right, double the coverage at the same 14 $11.54 $17.31 $23.07 $27.76 $38.86 $55.52 low premium–guaranteed! Payment protection — just in case Guaranteed future insurability for your child The Grow-Up® Plan offers optional payment protection at Regardless of health, occupation or anything else, an additional cost. The Payment Protection Option (PPO) your child or grandchild has the guaranteed right to Rider on the policy owner covers all premium payments purchase extra insurance as an adult–continuing the if the policy owner becomes totally disabled or dies before valuable legacy of financial protection you started. the child’s 21st birthday. The rider is available for purchase As an adult policy owner, your child will have up to while the owner is between the ages of 18 through 50, and four opportunities to buy additional insurance at ages completes a short application underwriting either approves 21, 25, 30, 35, 40, when he or she gets married or has or declines. In addition, the insured child must be no older a child. Each new policy can be up to the coverage than age 18 as of his or her last birthday
amount in force at age 18. For example, a child with You Can Depend on Gerber Life $50,000 of initial coverage will automatically receive double the coverage during age 18 and, by exercising • For more than 50 years, Gerber Life has been providing the guaranteed options, will be able to purchase up to budget-friendly life insurance so that children and $400,000 of additional coverage as an adult. adults can have greater financial protection. Founded in 1967 by the Gerber Products Company, we share a common heritage and values in caring for the millions See how the Grow-Up® policy can grow! of families who place their trust in us. Today, Gerber Life is a member of Western & Southern Financial$300,000 $250,000 Group, a worldwide industry leader in life insurance$250,000 $200,000 whose strength and stability fortify our $50 billion of$200,000$150,000 $150,000 life insurance in force. With Gerber Life, applying for$100,000 $100,000 a policy is easy and simple. You can count on us for $50,000 $25,000 $50,000 insurance plans for the entire family that offer the $0 reliability, flexibility and peace of mind you deserve
Coverage Coverage Purchase Purchase Purchase Purchase to start doubles additional additional additional additional • In December 2019, A.M. Best, the impartial reporting automatically during age 18 $50,000 policy $50,000 policy $50,000 policy $50,000 policy firm that rates insurance companies on financial stabil- at age 21 after marriage after birth at age 40 ity, management skill and integrity, awarded Gerber of child Life an “A” (Excellent) Rating.4 Childhood premiums that never increase The best news is the Grow-Up® Plan is affordable. Your premium is guaranteed to never increase, even when the coverage doubles during the year your child or grandchild is age 18. Because premiums are based on your child or grandchild’s age when you apply, the sooner you apply, the lower the lifetime premium will be
1Sample rates shown are for healthy children. Other coverage amounts and premium rates are available. Making annual or automatic monthly payments from your bank account will lower the premium. Please ask us for benefit amounts and premium rates not shown. Benefit amounts are subject to Gerber Life insurance limits. Rates shown do not include PPO Rider
2 This rating is the third highest awarded out of 13 possible categories. The rating refers to the overall financial status of the Company and is not a recommendation of the specific policy provisions, rates or practices of the Company
The Policy is sent with a 30 day free look period. The policy can be cancelled within the first 30 days and premium payment will be refunded. Please refer to the policy for limitations and exclusions that may apply. A Buyer’s Guide to Life Insurance and a Policy Summary are sent with all policies. You can get them without applying for insurance by writing us. The following notice applies to applicants in the states of AZ, CA, CT, GA, IL, ME, MA, MN, MT, NJ, NV, NC, OH, OR and VA: To approve your insurance and service your policy, we may collect or disclose information about you, as permitted by law, which may include certain disclosures made without your prior authorization. You have the right to access and correct personal information that we have about you. You may also receive a detailed notice on Gerber Life’s Information Practices, upon request
Additional information or a state-specific application is available. Policy Form ICC12-GPP and Policy Form Series GPP-12. In New York: Policy Form GPP-19-NY
Coverage and benefits are subject to Gerber Life insurance limits. Gerber Life Insurance is a trademark. Used under license from Société des Produits Nestlé S.A. and Gerber Products Company. Copyright ©2020 Gerber Life Insurance Company, White Plains, NY 10605
Grow-Up® Product Brochure Children’s Whole Life Insurance Not FDIC Insured Not Bank Guaranteed Not a Deposit or Other Bank Obligation GU-AM (0620) Give your Children and …
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Frequently Asked Questions
Is gerber life insurance a good deal?
Term life insurance with Gerber Life is just not a good option. Only one rider available. There’s one rider (a guaranteed insurability rider) available for one policy (the Grow-Up Plan meant for children). Besides that, there’s not much shoppers can do here to customize their plans. The Breakdown Policy Details 5.1
What are the premiums for gerber life insurance?
Gerber Life Whole Life insurance offers coverage amounts from $50,000 to $300,000* with relatively affordable monthly premium rates, so you can find a policy that fits your budget. Keep in mind that your policy’s cash value continues to accumulate as long as premiums are paid.
Can you cash out a gerber life insurance policy?
You must complete a Gerber Life insurance cash out form to get your cash. Borrowing against the cash value of your policy will reduce the policy’s coverage amount until the loan is paid back. The policy loan interest is 8%. About Gerber Life Gerber Life offers insurance policies for both children and adults.
What type of insurance is gerber life insurance?
The Gerber Life Grow-Up ® Plan is a children’s whole life insurance policy that can provide lifelong insurance protection for your child or grandchild, as long as premiums are paid.