Term Life Insurance Questions

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.