An Introduction to Gerber Final Expense Insurance

An overview of Gerber Life Insurance Company
 

Gerber Life Insurance Company was launched in 1967 as the Gerber Products Company’s subsidiary. The latter is a subsidiary of Michigan-based Nestle. The company  has its headquarters in White Plains, New York. The firm has an excess of $33 billion worth of life insurance with around 2.9 million policies throughout Puerto Rico, Canada and the US.

What is Gerber Final Expense Insurance?

What is burial insurance, how much does it cost and do you really need it?

These are some common questions with respect to Burial Insurance, also referred to as Final Expense Insurance. These policies are whole life plans which have been created to last the lifetime of the insured.

For the majority of carriers, the age at which it is issued starts at 50. However, there are some carriers issuing such plans at a relatively younger age. The maximum issuance age is approximately 85 years old.

In the present market, funeral expenses are pretty steep and can average $ 10,000. If something unforeseen occurs, the deceased’s family may have to deal with a high funeral bill along with other associated costs, which may be difficult to cater to. It’s a sad fact that many mourning families don’t have adequate money to pay for the deceased’s funeral expenses and remaining bills.

With the Gerber Final Expense Insurance plan, your loved ones can have peace of mind. The plan can provide close to $25,000 to assist beneficiaries in paying for the following:

• ·         Left over debts
• ·         Medical bills
• ·         Funeral Costs

Here’s how Gerber can ease the hardship of dealing with final expenses

·         You won’t be turned down for securing a Gerber Final Expense Insurance policy

To obtain this policy with a guaranteed coverage of between $5,000 and $25,000, your age has to fall between 50 and 80 years. You don’t have to undergo any medical exams nor do you have to answer any health-related questions.

• ·         Your policy results in cash value

This policy ensures guaranteed coverage if you pay the premiums on time. In addition, it has cash value, which is the money set aside by Gerber Life for your future. You can amass more money if you hold the plan for a longer duration.

• ·         It’s a whole life policy which has graded death benefits

If you die within the first two years after starting the policy for any reason excluding accident, all premiums along with 10% interest is received by the beneficiary. On the other hand, if the death is due to an accident, the entire death benefit is paid.

Gerber final expense insurance carries a trusted name which has been associated with family care for the last 80 years. In June 2012, it received an “A” rating from A.M. Best, which is a reporting company that rates insurance firms on the grounds of management skill, integrity and financial stability.