What is a Guaranteed Issue Life Insurance?

Guaranteed Whole Life Insurance is a type of whole life policy that does not require a medical exam. You do not need to answer health questions or allow an insurance company to review your medical or prescription history.

This is a policy essentially for people with poor health.

There is a waiting period. If you die during the waiting period, your insurance company will pay back all your insurance premiums to your beneficiaries with 10% more.

If you need life insurance and can’t qualify for a plan with underwriting, guaranteed life insurance will at least give you some coverage and death benefits.

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No Medical Life
Insurance – No Exam
Life Insurance

Simplified issue life insurance

Simplified issue life insurance does not require a medical examination but does include a number of health-related questions. In general, the longer the health questionnaire, the lower the cost of the insurance coverage.

Guaranteed issue life insurance

Guaranteed Issue life insurance does not require a medical exam or answers to any health-related inquiries. These plans are available even if you’ve been previously turned down for insurance. The face amount of a Guaranteed Issue Life Insurance policy is usually $5,000 to $50,000.

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How does “No Medical”
life insurance

There are several insurance policies that do not require a medical test.
Guaranteed Issue plans are useful for people who have significant illnesses and would not otherwise qualify for coverage.

Guaranteed Issue policies are for anyone who has a severe illness and may otherwise be difficult to insure.

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