Gerber Life Insurance
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UPDATED: Aug 20, 2020
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Company Overview:
Company History: The Gerber Life Insurance Company was founded in 1967. The company started with initial resources of $4,970,250 and a common capital stock of $1 million. As of 1994 its ultimate parent company was the Sandoz Corporation. In 1996 Sandoz Corporation and Ciba-Geigy merged to create the second largest pharmaceutical company on the planet, the Novartis Corporation. The Novartis Corporation ultimately became the parent of the Gerber Products company. In 2007 Nestle purchased all the shares of stock of the Company from Novartis. Today, Gerber Life Insurance Company is a financially separate affiliate of Gerber Products and a subsidiary of the Nestle Group.
Principle Sales Methods: Direct marketing.
Life Annuity Business: Gerber Life sells Individual Whole, Term, Burial Expense and AD&D insurance for adults, plus child and young adult policies. The company currently has over $40 billion of life insurance in force with over 3 million customers. Gerber Life offers a guaranteed life insurance plan which you cannot be turned down if you are between 50 and 80 years old. In 2009 Gerber life was named one of the Top 50 Performing Life and Health Companies in the US by the Ward Group.
Special Business: Gerber Life sells Child (to age 12) and Young Adult Whole Life insurance policies.