An insurance policy or plan is actually a contract between a person called the policyholder and a company called the insurer. The policyholder is initially asked to pay a particular amount while making this contract. After the deal is sealed, the insurer is responsible for paying for all the dues and losses in case of accidents, injuries or any calamity falling upon the policyholder or its family.
Gerber Life Insurance proposes plans for both kids and adults depending upon their age and choice. Their offers can range from life policies to life insurance policies providing benefits to the entire family of an insurance holder. They offer numerous different policies having lucrative and attractive plans. Moreover, a few policies have this feature where the money would double as soon as the kid who is actually the bearer of this insurance reaches the age of eighteen. Payment would be made according to the plan:
- A few plans offer accidental coverage, fulfilling the loss that happened during an accident.
- Others only deal with deaths. The company would pay extra money to cope with the cost of burial and damage if it happened during an accident. If death didn’t happen, the company wouldn’t be paying for any losses.
Life Insurance Policies Available
- Term Life insurance is the cheapest one available. It provides a fixed amount for a period of time. You can consider it a replacement for the monthly salary of the deceased and can be used to pay college funds and other household dues. It entertains people of age group eighteen to seventy for around ten, twenty or thirty years. Amount varies from one hundred thousand dollars to one million dollars.
- Whole Life insurance, as the name suggests, never expires. The policyholder has to pay a particular amount of money called premium every month, and he would receive cash with increased value. This continues till he dies. It also allows the policyholder to take a loan with an interest rate of eight percent. It entertains people of age group eighteen to seventy with an amount varying from fifty thousand dollars to one million dollars.
- The guaranteed life insurance is mainly responsible for paying expenses after death like the cost of burial or some damage or if the person died without paying some debts. It is for people between the ages of fifty to eighty, and the cost ranges from five thousand dollars to twenty-five thousand dollars. Cost can increase if the policyholder keeps on paying the required and fixed premium and does it frequently.
- Accident protection insurance will pay for your needs in case the policyholder faces some injury rendering him disabled due to some accident or even death. It entertains people of ages between eighteen to sixty-nine with the amount varying from twenty-five thousand dollars to two lac fifty thousand dollars. Premiums are required to be paid frequently.
- The Grow-up plan is for kids of at least the age of fourteen days. The amount varies from five thousand dollars to fifty thousand dollars. The value doubles when the kid reaches the age of eighteen, and by twenty-one, he becomes the policyholder. He can either purchase more coverage for all the dues or pay premiums for the current one.
- The insurance college policy, also called the endowment fund, is for a particular span of time. By the end of these years, your child would receive the amount required to pay all his college dues. In case the policyholder dies, the amount is handed over to a beneficiary. The amount ranges from ten thousand dollars to one lac fifty thousand dollars.
Benefits of Gerber Life Insurance Policy
- When it comes to the application process, is quite simple, and the form can be filled out online. You can get your policy on the phone call too.
- The decision considering you qualified for a policy is generally very quickly made. Hence, it ensures no fuss and smooth commencement of events.
- The value of cash offered as the number of policies doubles as soon as the child reaches the age of eighteen.
- The Automatic deduction is a feature that takes the premiums from your account, and in this way, you can save a total of ten percent.
Life is highly uncertain; we do not know about our future. Given the circumstances, we should, as soon as possible, buy an insurance policy to secure the future of our loved ones. Gerber life insurance is the most recommended one. Easy plans, affordable premiums, less interest on policy loans, and quick activity are a few key features that convince the buyer to go for it.