Products Your Veteran and Military Clients Won’t Want to Miss
Serving in the military is a proud and noble profession that can provide many benefits to service members while serving in active duty. However, when service members leave the military, some may find that they are lacking important insurance benefits, including health insurance, life insurance and more. While we celebrate our active-duty military and veterans every day, the month of May is reserved to recognize their collective efforts and sacrifices for our country. As we acknowledge the service of our military, past and present, it’s important to remember that many veterans could be lacking important life insurance protection to help protect themselves and their families, or they may be underinsured and need a way to fill gaps in coverage.
If you have prospective clients who are also veterans, Gerber Life Insurance Company has numerous whole life insurance options that can provide them with the important coverage they need, that offer simplified underwriting in many cases1 or are guaranteed issue.2
Gerber Life Whole Life Insurance
– Issue Ages: 18-70
– Coverage Amounts: $25,000 to $1,000,0003
– Offers simplified underwriting and quick decisions in certain cases1
– Guaranteed premiums, death benefits and cash value accumulation4
Gerber Life Simplified Senior Life
– Issue Ages: 50-80
– Coverage Amounts: $25,000 to $100,000
– Offers simplified underwriting and quick decisions in certain cases1
– Guaranteed premiums, death benefits and cash value accumulation4
For veterans who are looking for only a small amount of coverage and may not want to go through underwriting, Gerber Life’s guaranteed issue life insurance solution could be an option for them. Our Gerber Life Guaranteed Life product may work for veterans since coverage is guaranteed, regardless of health.2 Keep in mind though that Gerber Life’s Guaranteed Life product is not intended for people with questionable life expectancy since there is a Graded Death Benefit limitation.5
Gerber Life Guaranteed Life
– Eligible issue ages 50 to 80 (50 – 75 in NY)
– Face Amounts from $5,000 to $25,0006
– Guaranteed premiums, death benefits and cash value accumulation4
– No medical exam or underwriting and no health questions to complete
– Low face amounts to fill gaps in coverage or to have initial coverage in place where none exists today
With Gerber Life Guaranteed Life, you will be able to offer your veteran clients with unique situations an option to help secure protection and coverage for themselves and their loved ones.
1 Gerber Life will search databases for prescription history, motor vehicle records and medical information in order to provide an almost instant decision (within a minute) for most of the digital and telephone applications submitted during normal business hours.
2 Guaranteed coverage for Guaranteed Life requires that applicant is a U.S. Citizen residing in the U.S. or permanent legal resident. Total limit of all combined Gerber Life Guaranteed Life policies is $25,000.
3 Age 50 and above, minimum face amount must be over $100,000.
4 Policy will remain in force, premiums are guaranteed not to increase, and the death benefit and cash value are guaranteed as long as payments are made on time and within the Grace Period specified in the policy. The cash value and death benefit will be reduced by any outstanding loans. The policy loan interest rate is 8%.
5 Our guarantee to accept all applicants ages 50 to 80 (50 to 75 in NY) is made possible by a Graded Death Benefit limitation. It applies to the first two years of coverage when the policy is issued. If death occurs within the first two policy years for any reason other than an accident, 110% of earned premiums will be paid to the beneficiary. If death is due to accidental causes within the first two policy years, the full death benefit will be paid to the beneficiary.
6 $15,000 in South Dakota.