The Gerber Life Guaranteed Issue product is graded for the first two years paying premium plus 10% for non-accidental deaths.
Yes, Errors & Omissions is needed for Gerber Life.
Commissions will be paid on collected premium only and are paid two times per month with Gerber Life. Commission statements will be emailed twice a month
Gerber requires that a writing agents first piece of business be a paper application. Subsequent applications can be using the online portal or paper.
With respect to the Guaranteed Life the following special rules shall apply: a.) If the insured dies within the first policy year, 100% of the compensation paid shall be returned to Company. b.) If the insured dies within the second policy year, 50% of the compensation paid shall be returned to Company.