Insurance for Families

Things to consider when choosing life insurance

The many options available for family life insurance can create a need for someone to help you understand the different choices and terminology. Gerber Life takes the guesswork out of family life insurance with articles that answer such questions as, "How does life insurance work?" and "How do I get life insurance?" Whether you're looking for a policy for an infant, child, adult or senior, we've got you covered when it comes to comprehensive information about life insurance.

  1. Who Needs a Life Insurance Policy?

    Who Needs a Life Insurance PolicyWhen you were younger, you may have not considered a life insurance policy. But now that you have dependents, it’s important to consider who will take care of them if you die. Answer the following questions to determine if a life insurance policy is a wise investment for your future.

    • If you are in a relationship where you and your partner both work, if something happens to one of you, can your family survive on one salary?
    • If your spouse doesn’t work and would need to find a job, would she or he be able to afford childcare costs? Is there a way you can make sure your spouse won’t need to join the workforce?
    • Families and couples can live much more frugally than a single person or a single parent with children. Could your spouse afford your home?
    • Would your spouse be able to afford funeral costs of $6,500 (the national average, according to the National Funeral Directors Association), up to $10,000 or more?

    These are all compelling questions to consider, and the answers can show you exactly why you need a life insurance policy.

  2. Protect Your Child: Term Life Insurance

    Protect Your Child with Term Life InsuranceThe premise behind term life insurance is that it protects your loved ones by replacing your income in the event of your death. Children have no dependents, so typically, child term life insurance is not the best investment choice.

    However, when you purchase term life insurance for yourself and your spouse, you are really purchasing it for the security and well being of your children. In many cases, if it was just you and your spouse, you could survive if something happened to one of you. Term life insurance is about securing your spouse’s future at the same standard of living in the event of your death and, most importantly, protecting and caring for your children financially even after you are gone.

  3. Guaranteed Life Insurance Makes a Safe Financial Choice

    Guaranteed Life Insurance a Safe Financial ChoiceEveryone likes a good guarantee in life, right? Guaranteed life insurance, sometimes called guaranteed acceptance life insurance, carries no financial risks.

    If you have put off purchasing life insurance until after the age of 50, you may think it’s too late. But that’s not the case.  A life insurance company, such as Gerber Life, will insure you with a guaranteed whole life insurance policy between $3,000 and $15,000 if you are between the ages of 50 and 75..

  4. Different Types of Life Insurance Plans

    Types of Insurance PlansLife insurance plans—just like families—come in many different shapes and sizes. It helps to understand the basic types of life insurance policies before you select the one that will best fit your budget and protect your family in case anything should happen to you.

    Term Life Insurance Plans

    The most basic—and most affordable—life insurance plan is term life insurance coverage. You purchase this coverage for a specific period of time. If you die while the term life insurance is in force, your beneficiary will receive the full amount of the policy. If you ever stop paying into the plan, you will lose any coverage, and the money you paid in.

    Whole Life Insurance Policy

    When you purchase a whole life insurance policy, you will pay set premiums through the life of the policy. Your insurance company will invest the money and whenever you pass, your beneficiary will receive the full amount of the policy. You may also receive dividends from your investment in a whole life insurance policy.

    Gerber Life has a variety of life insurance plans to fit your family’s needs. Contact us for more information on life insurance plans.

     

  5. Debunking One of the Biggest Life Insurance Myths

    Family Insurance PlansThere are many people (and you might even be one of them) who view family insurance plans as entirely unnecessary. After all, the only person that really needs a life insurance policy is the person who “brings home the bacon” – right? Wrong.

    Congratulations! You’ve just stumbled upon one of the biggest myths in all of life insurance. This is one that’s been around for quite some time, and the closer you look at it, the more mystifying it becomes as to how anyone could ever think it to be remotely accurate.

    While it’s true that it’s critical to have a life insurance policy on the head of the household who’s responsible for bringing in the majority of the income, there’s just as great a value in a family insurance plan that covers your spouse or children – even if none hold a job.