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Colonial Penn vs Gerber Life Insurance

Colonial Penn and Gerber are two solid life insurance companies. Rest assured you can't make a bad choice if you have narrowed it down to Colonial Penn and Gerber. See our side by side comparison below to see how these two companies stack up. We have included financial ratings, current leadership, assets, and premium in force for both Colonial Penn and Gerber.
  • 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.

Compare Other Options

1st place trophy
1st

Health IQ is a unique life insurance brokerage that gets you special rates if you live an active lifestyle. If you exercise a few times per week, you can qualify for lower rates. Click below to get an accurate quote.

2nd place trophy
2nd

AIG, also know as American International Group, has been in business since 1919. AIG's strong financial rating, product selection and competitive pricing earns it the #2 spot.

3rd place trophy
3rd

Banner is a subsidiary of Legal & General, and have been in business since 1836. They hold an A+ financial rating and have some of the most competitive rates. This earns them the #3 spot.

SOURCE Colonial Penn Gerber
JD Power N/A N/A
BBB N/A A+
AM Best A- A
Moody's Baa1 N/A
Fitch BBB+ N/A
Standard & Poor BBB+ N/A
Comdex Score 62 80
SOURCE Colonial Penn Gerber
Total Assets $30 billion(CNO Financial Group) $33 billion
Life Insurance in Force $3.2B $52 billion
Colonial Penn Gerber
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 Penn Gerber
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 Penn Gerber
No riders availableWaiver of premium
Jonathan Holloway
January 1, 1970
Jonathan is a licensed life insurance agent at NoExam.com that writes about insurance, personal finance, lifestyle, and sports. See our pages on term life insurance, life insurance rates and life insurance companies for more.
Disclaimer: We make every attempt to make sure our information is up to date, but since things change often it is best to double check the data. This review is an opinion. Clicking on links may result in NoExam.com being compensated.