Gerber Life submitted advertising materials in Georgia for its Guaranteed Life whole life insurance product targeting consumers ages 50 to 80 with guaranteed acceptance regardless of health.

The materials promote coverage amounts ranging from $5,000 to $25,000 with no medical exams or health questions required. Premiums are based on age, gender, and selected coverage amount, with rates locked in for life. The product also builds cash value that policyholders can borrow against.

According to the filing, the policy includes a graded death benefit limitation during the first two policy years. If the insured dies from non accidental causes during that period, beneficiaries receive 110% of earned premiums rather than the full death benefit. Full benefits are available immediately for covered accidental deaths and after the two year graded period for all covered causes of death.

Sample monthly premiums in the filing show a 50 year old male paying $22.50 per month for $5,000 in coverage and $108.86 per month for $25,000 in coverage through automatic payments. For a 50 year old female, premiums range from $17.69 per month for $5,000 in coverage to $84.79 per month for $25,000 in coverage.