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What money do you get back when you cancel a gerber life insurance policy?

Public Comments

1. After it reaches maturity you can get back a % of what you paid in, I think child age has to be 21. However, it depends on your policy, read it and it will say.
2. Depends on what type of insurance policy you have. If you have term insurance there is no cash accumulation so you will get nothing back. Term insurance is simply bought for the death benefit. If it's a whole life policy or Universal policy you will be able to get back your cash buildup. Check with your agent.
3. You get back cash value less surrender fee. Cash value, is usually about 10% of what you've paid into it. Surrender fee is usually around $250. That usually means, if it's a low value policy, and you've paid in less than $2500 over the years, you don't get anything back.
4. You'll get back the cash surrender value. On most Gerber whole life policies it is guaranteed and predetermined at issue. You should be able to see approximately what your current cash surrender value is by looking at the original policy pages that they sent to you. You can always call their customer service and ask them what the current cash surrender value is.