How Can Cash Value Be Used?

If, however, you live longer than the period of coverage, you receive the policy’s face value which, at that point, would equal its cash value. Gerber College Plans come with face values between $10,000 to $150,000, and are priced according to your health, since you’re the one who’s insured for the length of coverage.

The Gerber Life College Plan is an individual endowment 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.

It takes at least 10 years for the whole life insurance policy to build enough cash value.

Yes. You can borrow from the cash value, as long as premiums are paid, by taking a policy loan. Policy loans are subject to 8% interest rate and may impact cash value and death benefit. You can also surrender the policy and receive the available cash value.

1. If you need immediate cash, you can borrow against your policy’s cash value by taking a policy loan.
2. When your child automatically becomes the policy owner at age 21, your child will gain the valuable whole life insurance protection as well as the accumulated cash value.

You can borrow as soon as you’ve built up a little cash value. With whole life policies, it may take several years to build up anything beyond negligible cash value.

Simply let your insurer know and they will pay you the life insurance policy’s net cash value. The net cash value is the “actual” surrender value of the policy. You will typically find it listed separately in your life insurance statements.

The cash value of your policy is the accumulated amount of money that Gerber Life sets aside each time you pay your premium. That means that the longer you hold your policy, the longer the cash value builds. Best of all, the cash value of your policy as well as the policy never expires.

To calculate the cash surrender value of a life insurance policy, add up the total payments made to the insurance policy. Then, subtract the fees that will be changed by the insurance carrier for surrendering the policy.

Peggy Mace, Certified Senior Advisor (CSA)®PRO. CEO, Outlook Life, Inc, Most of the U.S. If there is any cash value in your Gerber life insurance policy, and if you own the policy and are entitled to receive the cash value, then you should be able to cash in your Gerber life insurance policy.

As long as premiums are paid, you can borrow against the available cash value that has built up in your Gerber Life Whole Life Policy. *policy loan interest rate is 8%.

You can cancel your Gerber life insurance policy by contacting Gerber Life Insurance Company’s customer service center. They can be reached by phone at their toll free phone number of 1-800-704-2180. Or you can mail them at Gerber Life Insurance Co, 445 State St, Michigan, 49412 to request the cancellation.

Gerber Life has top ratings from AM Best and S&P.