Nestlé agrees to sell Gerber Life Insurance Co. to Western & Southern Financial Group (2024)

FAQs

What happened to Gerber Life Insurance? ›

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.

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.

In 1967, executives at Gerber Products decided to offer a line of life insurance products aimed at young families. Today, the Gerber Life Insurance Company is one of the largest purveyors of direct-marketed life insurance in the United States.

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.

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.

Coverage Automatically Doubles During Age 18

On the policy's anniversary date during the year that your child turns 18, the coverage will automatically double at no extra cost. This means, for example, that if you originally bought a $25,000 Grow-Up^® policy, it would double into a $50,000 policy, and so forth.

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.

Rates start at $15.42 a month and stay locked for the entire term. You choose a coverage amount that fits your needs and budget, from $100,000 to $300,000.

No, Nestlé does not own Hershey. Hershey is its own company, and it's one of the largest chocolate manufacturers in the world. However, Nestlé is a major player in the food and beverage industry, with a diverse portfolio that includes chocolate products among many others.

Does Nestlé own Coca-Cola? ›

No. The Coca-Cola Company does not own Nestle.

As a result of the successful conclusion of the regulatory process, Nestlé completed its acquisition of Gerber, the iconic US baby food brand, on 31 August, with effect on 1 September 2007.

USA Life Insurance Company, Inc., an affiliate of Prosperity Life Group, will acquire National Western in an all-cash transaction valued at approximately $1.9 billion. The merger was completed in July 2024 with its stock being delisted from the Nasdaq.

Western & Southern has been serving families and businesses just like yours with our diverse range of life insurance, annuities and investments.

Western & Southern companies are led by John F. Barrett, Chairman, President & CEO of Western & Southern Mutual Holding Company, Western & Southern Financial Group, Inc., The Western and Southern Life Insurance Company, and Western-Southern Life Assurance Company.

North Carolina Insurance Commissioner Mike Causey announced today the North Carolina Department of Insurance has entered into a voluntary settlement agreement with Gerber Life Insurance Company that includes a $1.1 million penalty for numerous violations related to its claims practices for accidental death and ...

A class action lawsuit has been filed against Gerber Life Insurance Company concerning the Gerber Grow Up Plan and the Gerber Life College Plan. The lawsuit, which seeks a jury trial, alleges that the two plans are deceptively named and marketed, misrepresenting the functioning and features of the plans.

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.