![]() ![]() Though Gerber Life Insurance shares the “trusted logo of the wholesome smiling baby,” the complaint states, its products are “the financial equivalent of junk food.” The insurance company continues to use the Gerber baby logo, under a licensing agreement. in 2018, when their parent company, Nestlé, sold it to Western & Southern Finance Group of Cincinnati for $1.55 billion. ![]() But since 1967, Gerber has also sold insurance. Most consumers are probably more familiar with Gerber baby foods, accounting for more than 80% of sales in the U.S. “We disagree with the allegations and stand behind our products and services,” he stated in an email, and the company has a “long heritage of providing protection for families.” Marques said the company does not comment on the specifics of pending litigation. “Gerber Life has convinced hundreds of thousands of well-meaning but unsophisticated parents and grandparents to pour their often meager savings into risky plans that provide little if any value,” the complaint states, “putting all their eggs into the wrong basket.” Josephine Loguidice, an Ocala, Florida woman who signed up for Gerber plans for seven grandchildren, filed a class action lawsuit against the White Plains company April 24 in U.S. Gerber Life Insurance Co., whose products are associated with the trusted baby food brand and memorable baby face logo, has been accused of marketing plans for building nest eggs for children that actually lock in financial losses. The electronic applications will also be updated for New York on. The updated paper applications, application kits and marketing material will be available for download on the Agent Portal and FormsPipe on. Updated Applications and Marketing MaterialĪll applications and marketing material have been updated to reflect the new policy form numbers listed above. A cover letter stating there is an updated policy form number will be included in the policy kit for any prior version of the application. Please Note: Any applications signed on or after will be issued with the new policy and premium rates. For a list of policy form numbers and product state availability, click here. New Policy Form Numbers New YorkĮffective, the policy form number for the Grow-Up Plan in New York will change. ![]() Any paper applications signed on or after will be issued with the new premium rates. Paper Applications signed prior to must be received in the home office by in order to obtain the old rates. Electronic applications submitted on the Gerber Life Agent Portal on or after will be issued with the new rates. New PremiumsĮffective, premiums for the Grow-Up plan will increase. Gerber Life announces changes to the Gerber Life Grow-Up Plan effective. ![]()
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