1. 870 POINTS
    William Bridgers
    Specialist, LTCi, DI, Annuities, Life, Designs In Life, LLC, Utah
    Gerber Life is a "legitimate" life insurance company in that it is domiciled in the state of NY and is located at 1311 Mamaroneck Ave., White Plains, NY, 10605, 914272-4000, and is licensed to do business in all 50 states and Canada.  They list six product groups on their website, www.gerberlifeinsurance.com, including the only endowment life policy that is also an adult life insurance policy.  It's called the Gerber Life College Plan and has been their flagship policy for a long time.

    They are definitely a niche carrier, targeting the parent and grandparent market.  Their contracts have many guaranteed features that appeal to those that don't want to take any chances that their insurance might lapse or diminish in value over time.  I have worked with their service teams on a few occasions and they are knowledgeable and very customer-oriented.

    The have been rated "A", AM Best's third-highest financial rating, and "A-" by Weiss, which is their 3rd best rating as well.  Both of those ratings are within the "Excellent" range of both rating services.  That gives them a Comdex of "80", which means that 80% of all financially-rated carriers are ranked below them.

    If by "legitimate" you are referring to their contracts being of real value, or if can you trust a life insurance company that is also a baby food company, you may want to do more research.  From and industry point of view, they are legitimate.
    Answered on July 20, 2013
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