Colonial Penn vs Gerber Life Insurance

  • YEAR FOUNDED
    1968
  • CURRENT CEO
    James Prieur
  • AVAILABLE
    47 States
  • ADDRESS
    399 Market Street Philadelphia PA, 19106
  • TOP AWARDS

    Children's Scholarship Fund Philadelphia (CSFP) Corporate Citizen of the Year

  • PROS
    • No Exam and No Health Questions for the Guaranteed Issue Whole Life Insurance
    • The death benefit does not decrease over the life of the policy but remain fixed as long as one continues to make premium payments
    • Your premium is fixed for the life of the policy
  • CONS
    • Online application unavailable for all plans
    • Low coverage amounts
    • No living benefit for Guaranteed Issue plan
  • YEAR FOUNDED
    1967
  • CURRENT CEO
    Keith O’Reilly
  • AVAILABLE
    All 50 States
  • ADDRESS
    Gerber Life Insurance Co. 445 State Street Fremont, MI 49412
  • TOP AWARDS

    Top 50 Performing Life and Health Companies (2009) by The Ward Group

  • PROS
    • Many policies to choose from.
    • Medical exams not required.
  • CONS
    • Not your best savings option.
    • A child rider might provide the same protection.
    • Only one rider mentioned on its website.
SOURCEColonial PennGerber
JD PowerN/AN/A
BBBN/AA+
AM BestA-A
Moody'sBaa1N/A
FitchBBB+N/A
Standard & PoorBBB+N/A
Comdex Score6280
SOURCEColonial PennGerber
Total Assets $30 billion(CNO Financial Group)$33 billion
Life Insurance in Force $3.2B$52 billion
Colonial PennGerber
Guaranteed Acceptance Life InsuranceGrow-Up® Plan
Permanent Whole Life InsuranceGerber Term Life Insurance
Renewable Term Life InsuranceGerber Life Whole Life insurance
Gerber Life Guaranteed
Accident Protection Insurance
Gerber Life College Plan
Colonial PennGerber
Colonial Penn Guaranteed Issue Whole Life InsuranceGrow-Up® Plan
Colonial Penn Patriot Program Whole Life and Term LifeGerber Term Life Insurance
Gerber Life Whole Life insurance
Gerber Life Guaranteed
Accident Protection Insurance
Gerber Life College Plan
Colonial PennGerber
No riders availableWaiver of premium
Jonathan Holloway
October 13, 2019
John Holloway is a licensed life insurance agent and co-founder at NoExam.com
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