Gerber College Savings Life
The Gerber Life College Plan is a unique combination of adult life insurance and an endowment savings plan designed to help families prepare for the cost of higher education or other major life expenses. With guaranteed growth and a set payout amount, this plan provides a predictable way to save while also offering life insurance protection for the policyholder.
Apply Now for the Gerber Life College Plan
Lock in a guaranteed payout to help cover education costs or other major expenses, while protecting your family’s future.
Who Qualifies?
Parents, grandparents, or legal guardians can purchase the Gerber Life College Plan for themselves as the insured. The plan is available to adults ages 18–75, and in most cases requires only a simple health questionnaire—no medical exam. This makes it an accessible option for many families who want a guaranteed payout for future needs.
Key Benefits
- Guaranteed Payout: Select a maturity amount between $10,000 and $150,000, which is paid in full at the end of the policy term—no market risk involved.
- Life Insurance Protection: Provides coverage for the policyholder during the term, ensuring your family receives the full payout even if something happens to you before the policy matures.
- Cash Value Growth: The policy builds cash value over time, giving you access to funds through policy loans if needed before maturity.
- Flexible Use: While designed to help pay for college, the maturity benefit can be used for any purpose, such as buying a home, starting a business, or supplementing retirement savings.
- Affordable Premiums: Fixed monthly rates that never increase, making budgeting simple.
Why Choose the Gerber Life College Plan?
With the cost of higher education continuing to rise, families are looking for reliable ways to prepare. Unlike 529 plans or market-based investments, the Gerber Life College Plan offers guaranteed growth, so you’ll know exactly how much money will be available at maturity. Plus, it combines that saving strategy with life insurance protection, ensuring your loved ones are financially secure no matter what happens.
How It Works
- Choose Your Maturity Amount: Decide how much you want the policy to pay at the end of its term.
- Select Your Term Length: Common term options are 10, 15, or 20 years—timed to match your child’s college start date or other financial goals.
- Make Fixed Monthly Payments: Premiums remain the same for the entire term, making budgeting predictable.
- Receive Guaranteed Payout: At maturity, you receive the full payout tax-free, which can be used for any purpose.
Common Uses
- Paying for college tuition and expenses
- Funding a down payment on a first home
- Starting a business
- Paying off debt
- Creating a safety net for future needs
Financial Security You Can Count On
Gerber Life Insurance has been a trusted name for more than 50 years, with an “A” (Excellent) rating from A.M. Best. This financial strength ensures your guaranteed payout will be there when you need it most—providing peace of mind for you and your family.
Start Planning for Your Child’s Future Today
Lock in a guaranteed payout to help cover college costs or other major life goals—while protecting your family with life insurance coverage.
FAQs: Gerber College Savings Life
What is Gerber College Savings Life?
A life insurance policy designed to help families save for a child’s future while providing a death benefit. It builds cash value over time that can be accessed for college or other needs.
How does it help pay for college?
The policy accumulates cash value that you can access through withdrawals or policy loans. Some designs also target a guaranteed payout at a selected maturity date—useful for tuition timing.
Is this the same as a 529 plan?
No. A 529 is a tax-advantaged education account with qualified-expense limits and market exposure. This is life insurance with cash value, broader-use flexibility, different fees/guarantees, and different tax treatment.
What are the pros vs. a 529?
Pros include a death benefit, potential guarantees, and flexible use of funds (not limited to education). Trade-offs include policy charges and typically lower long-term growth than aggressive 529 investments.
What happens if my child doesn’t attend college?
You can keep the policy, use the cash value for other goals, or surrender it for its cash value (taxes/charges may apply). The death benefit remains in force while premiums are paid.
How are taxes handled?
Cash value grows tax-deferred. Withdrawals are generally taxable to the extent they exceed basis (premiums paid). Policy loans are typically not taxable if the policy stays in force—ask a tax advisor for your situation.
Will this affect financial aid?
Cash value may be considered a parent asset for FAFSA/CSS depending on ownership and school methodology. Confirm with your financial aid office.
Is medical underwriting required?
Juvenile coverage typically uses simplified underwriting (no exam in many cases). Eligibility, issue ages, and face amounts vary by policy form and state.
Can I change the premium or face amount later?
Adjustments may be available (subject to underwriting and policy rules). Changes can impact guarantees/cash value—request an updated illustration first.
Can I borrow from the policy?
Yes. Policy loans accrue interest and reduce cash value and death benefit if not repaid. Excessive loans can cause lapse; manage carefully around college years.
What riders are available?
Common riders include waiver of premium, guaranteed insurability, or term riders (availability varies by state and policy form). We’ll show options in your illustration.
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