Brand loyalty is common. If a person has good experiences with a company, he or she is likely to continue buying its products. There is no need to go shopping around. We understand this is only natural and makes sense in most cases. Nevertheless, blind loyalty to a brand name like Gerber Life Burial Insurance can have poor consequences when choosing your policy.
Companies will branch out from their core line of business. They often rely on their earlier reputation to convince people to purchase these other products. The new offerings might not have the same high quality. We suggest looking carefully at any burial insurance policy regardless of who sells it.
Gerber Life Burial Insurance
This company has no problem with brand name recognition. Seriously, Gerber is as American as apple pie. Anyone who has purchased baby food knows Gerber, but not everyone realizes this company is in other lines of business. Insurance happens to be one of those. The Gerber Life Insurance Company was created in 1967 to permit the parent company to offer young families life insurance products. Currently, they have nearly 3 million active policies and an A rating with A.M. Best. Among their insurance products is a burial insurance policy that is a guaranteed acceptance whole life insurance plan.
The primary features of Gerber’s guaranteed acceptance whole life burial insurance are straightforward:
- The benefits are not going to decrease.
- The premium charged is not going to change.
- This is an insurance policy that is not going to expire, provided you pay premiums regularly .
- There are no medical questions asked.
That last feature should perk up the ears of many senior citizens. Gerber is not going to ask health questions and they are not going to check medical history. Simply put, Gerber issues the burial life insurance policy to anyone who applies. Even if an applicant has AIDS, is on kidney dialysis, or has stage four cancer, that person can get a Gerber burial insurance policy.
You can purchase a minimum amount of $5000 and the maximum you are allowed is $25,000. There is a two-year waiting period before the benefit is paid. If an insured dies within that two-year period, Gerber refunds all premiums ever paid with 10% interest added on. An individual can receive the full death benefit during the waiting period if the cause of death was an accident.
There are other insurance companies that offer a guaranteed acceptance burial insurance product, but Gerber beats them. Why? The premiums Gerber charges are consistently lower than what their competition asks of the insured. When it comes to guaranteed acceptance burial life insurance, Gerber is, in our opinion, the best you can get.
The Pros and Cons of Guaranteed Acceptance Burial Insurance with Gerber
It is no secret in the insurance industry that people who are in poor physical health are attracted to the guaranteed acceptance burial insurance. The reason is that other types of whole life insurance have knockout questions in the health questionnaire which a person must complete. Those who are most likely to buy guaranteed acceptance insurance include:
- Those who have Cancer
- People with AIDS or HIV
- Anyone with congestive heart failure
- A person who has had a heart attack within the last year
The mandatory waiting period is there to protect the insurance company, and not the insured. The risk of having to pay a claim on someone who is unhealthy is simply too high to not have a 24-month delay in paying a full death benefit. This is where a guaranteed acceptance burial insurance policy might not be the best idea for you.
Health is a primary factor in any burial insurance product. Other types of burial insurance require a person to fill out a health questionnaire and the knockout questions, those medical conditions where if you answer “yes “you might get disqualified, can block a person from effectively applying.
But What if You Answer “no” to Those Same Questions?
You might discover that you are eligible to buy more coverage at a lower premium cost. Healthy people benefit because of their excellent physical condition. Anyone who is in the prime of health who decides to take a guaranteed acceptance burial insurance policy is making an expensive decision.
The Gerber Name Can Be Disarming When Selecting Burial Insurance
Gerber has brand recognition that is very positive. People have a favorable impression of the company because of the baby food products and it seems almost un-American not to look seriously at the Gerber Life Insurance burial insurance product. We certainly agree that anyone who is in poor health should give the Gerber policy serious consideration. On the other hand, if you are very healthy, why pay the Gerber premium when you might qualify for the same or better coverage at a lower cost?
It is true that other companies will have the health questionnaire, but if you are able to pass inspection then you can get immediate coverage in many situations. That is important for any senior citizen. Immediate coverage means that from the first day your policy is in effect, you have the death benefit you are paying to receive. If you, God forbid, should die one month later, you still get that death benefit. It’s a better situation than having to wait two years to get the full amount.
The Value of an Independent Agent
The Gerber Insurance Company will use an independent insurance agent to sell its product. In an insurance world that sometimes gets very complicated, that is good news for any consumer.
Other insurance companies will use a captive agent, one who is committed to selling only the product of that insurance company. That professional is still held to high ethical standards but only represents one company. Obviously, a captive agent is going to promote qualities of the company and brush over any problems. Many very reputable insurance companies will use captive agents in the brand name of the company many times sells the product.
But it isn’t the brand name that ultimately matters. It is the coverage and the price. Burial insurance must be enough to meet the needs of the insured. The premium must fit comfortably in anyone’s budget.
A captive agent will not bother to tell you about other insurance products and you’ll have to look around for yourself. Shopping for a burial insurance policy can be tedious. You can check the premium rates and the underwriting guidelines if you have enough time. Not everyone has that luxury. There are questions anybody will ask, and the answers are not simple to find. The answers are often buried in the underwriting guidelines and you would have to know where to look.
It’s a smart idea to ask an independent insurance agent to do the legwork. That insurance professional has the tools and the expertise to competently investigate insurance products on your behalf. Independent agents represent several companies will provide an array of options based on your needs. A final benefit of having an independent insurance agent is the relationship. An insured will many times look for other types of insurance and perhaps want riders placed on the existing policy. Working with an insurance professional who can represent several companies is a definite plus. This individual might be able to find the right burial insurance policy. the best home insurance, or the right accidental death and dismemberment product. A professional rapport between the agent and the insured can deliver benefits for years to come.
We are an Independent Insurance Agency and We Would Like to Help.
We believe you should be able to review several burial insurance options. These must be selected based on your stated needs and not our preferences.
Our first step in helping anyone is a one on one meeting over the phone. We ask people what type of coverage they will need. Then we ask about a person’s health only to see if knockout questions might disqualify them from applying for an insurance product.
We check the market for burial insurance that meets the client’s criteria. Then we will present the selection and answer any questions. The client makes the final decision and we then do everything possible to expedite the purchase.
We are proud of emotional intelligence that we show all our clients. While we do educate people on insurance policies, we will not preach sermons or lecture anyone. We seek to promote your best interests in all the work that we do. Our advice is intended to help. What is important is that we advise, we will not use pressure tactics to promote one insurance policy over another. While Gerber does have a good burial insurance policy, if we find one that is better and offers coverage at an affordable price, we will refer you to that company.
We want to be of service, and we want you to get the best possible burial insurance policy. We have an excellent reputation in the industry, and we have helped many people find exactly what they need at a premium they can easily afford. Please feel free to contact us at your convenience to find out more about how we can be of assistance.