Product Changes Include:
Elimination of the 5 Year Payment Option
Effective 10/16/2019, the 5 year payment option will be eliminated. Going forward, the available payment options will include:
The Gerber Life College Plan applications have been updated to reflect the removal of the 5 year payment option. The updated paper applications and the application kits will be available for download on the Agent Portal and FormsPipe on 10/16/2019. The electronic applications will also be updated for applications submitted on 10/16/2019.
Please Note: Applications requesting the five year payment option received on or after 10/16/2019 will not be processed.
Transition to the 2017 CSO Mortality Tables
The National Association of Insurance Commissioners (NAIC) has adopted the 2017 Commissioners Standard Ordinary (2017 CSO) mortality tables. All life insurance policies are required to use the updated 2017 CSO Mortality Tables by January 1, 2020.
As a result, all Gerber Life College Plan applications received and all policies issued on October 16, 2019 or thereafter, will be based on the 2017 CSO Mortality Tables in all states except New York.