Class Action Lawsuit Filed against Gerber Life Insurance Company (2024)

FAQs

What is the lawsuit against Gerber life insurance? ›

Gerber Life Insurance class action lawsuit overview:

Gerber Life Insurance Co. has made unsolicited and illegal telemarketing calls promoting its life insurance policies, according to a class action lawsuit filed Jan. 23 in New York federal court.

Yes. If you decide to cancel the policy, you'll receive the accumulated cash value that has built up over time, minus any outstanding debt against the policy. The same is true after your child becomes the policy owner.

In 2007, Nestlé acquired the company with Gerber Products. Nestlé announced on September 17, 2018, that it would be selling the Gerber Life Insurance Company to Western & Southern Financial Group for $1.55 billion.

Gerber Life has an A rating from AM Best and about $62 billion in life insurance policies in force. Gerber Life ranks below some other companies our team has reviewed due to its primary focus on children's policies and lower available policy limits.

The lawsuit claims that Gerber misrepresents the Grow-Up Plan because death insurance policies for children are unpopular. The College Plan, according to the complaint, is an endowment life insurance policy in disguise, not a college savings plan.

On March 17, 2023, Perrigo issued a voluntary recall of certain lots of Gerber Good Start SoothePro powdered infant formula out of an abundance of caution due to the potential presence of the bacteria Cronobacter. The recalled product was manufactured at Perrigo's Gateway Eau Claire, Wisconsin facility.

The Gerber Life Insurance College Plan is an individual endowment life insurance policy with an adult life insurance benefit that provides a guaranteed* payout of $10,000 up to $150,000 when it matures in 10 to 20 years.

The Grow-Up^® Plan's coverage amount doubles when your child is 18 years of age – so a $25,000 policy becomes $50,000 – at no extra cost. And it also guarantees your child the option to purchase additional life insurance coverage as an adult, regardless of future health or occupation.

With a 4.1 out of 5 star overall rating, Gerber Life Guaranteed Life Insurance has helped families everywhere secure protection against costly final expenses. In fact, 81% of customers would recommend the policy to their family and friends.

The allegations against Gerber claim that their baby foods contain dangerously high levels of toxic heavy metals such as lead, arsenic, cadmium, and mercury. These metals are known to be harmful, particularly to infants and young children, whose developing bodies and brains are more susceptible to these toxins.

Who is the parent company of Gerber Life Insurance? ›

Today, Gerber Life is a member of Western & Southern Financial Group Inc., one of the strongest life insurance groups in the world. With $65 billion of life insurance in force as of December 2023, you can count on us.

For new or existing claims, please call Customer Service at 1-800-628-0560. Gerber Life Customer Service Representatives are available Monday through Thursday 8 a.m. to 9 p.m. (ET), Friday 8 a.m. to 7 p.m. (ET) and Saturday 9 a.m. to 5 p.m. (ET).

No cash value: Term life insurance does not accumulate any cash value over time. Canceling your policy means you won't receive a payout. Partial refund: However, if you cancel in the middle of your payment cycle, you might get a small refund for any unused portion of your premium.

Gerber guaranteed life insurance also builds cash value each year that premiums are paid. Burial insurance policy amounts range from $5,000-$25,000, and are usually correlated to the average cost of a funeral in the policy holders area.

Gerber Lawsuit – Toxic Baby Food and Autism (Updated for August 2024) The Gerber baby food case is an important lawsuit that is currently ongoing involving allegations that the company's baby foods contain harmful levels of toxic heavy metals.

The cash value of your policy is the accumulated amount of money that Gerber Life sets aside each time you pay your premium after the initial policy years. That means that the longer you hold your policy, the longer the cash value builds.

Creditors typically can't go after certain assets like your retirement accounts, living trusts or life insurance death benefits to pay off debts. These assets go to the named beneficiaries and aren't part of the probate process that settles your estate.

Unclaimed life insurance policy proceeds are turned over to the state in which the insured is last known to have resided (often with interest) after a certain number of years have passed, following state laws on unclaimed property.