The Ring of Fire
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Lawsuit Says Those Gerber Life Insurance Plans Are Completely Worthless
Posted
February 25, 2020
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25,914
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February 25, 2020
25,914
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A class action lawsuit claims that Gerber Life Insurance Company’s savings plans such as the Gerber Life College Plan and the Grow Up Plan provide “no meaningful savings benefits.” The plaintiff says that she signed up for the Grow-Up Plan for all three of her grandchildren and made this decision based on Gerber’s advertisements that the plans would provide cash value when each child turns 18. Instead, she allegedly found out that the cash value accrued for one of her grandchildren’s plans would be less than 55 percent of the value she paid. Ring of Fire’s Farron Cousins discusses this with Scott Hardy, President of Top Class Actions.
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