It’s Guaranteed…Cannot be Denied
Guaranteed issue life insurance also known as guaranteed approval life insurance is a form of whole life insurance coverage. Guaranteed issue life insurance requires very little requirements and is life insurance coverage you cannot be denied.
Getting coverage requires an application and approval can take place in days. There are no medical exams or medical questions. Approval is guaranteed regardless of past or present health.
YOU CANNOT BE TURNED DOWN FOR COVERAGE.
If you need life insurance coverage but have a medical condition that may prevent you from getting a policy, lets talk about a guaranteed issue life insurance coverage. Give us a call at Top Quote Life Insurance for assistance (888) 777-7574.
Whole Life Insurance
Guaranteed issue life insurance policies are whole life insurance policies. Whole life insurance is permanent life insurance coverage so when you apply, you can rest assure that your coverage will last an entire lifetime and your premiums are guaranteed never to change. Whole life insurance policies also build cash value so the longer you pay premiums the more cash the policy will build up.
Who Can Qualify?
- Guaranteed issue life insurance is limited to individuals between the ages of 50-80.
- You must be a U.S. citizen or permanent legal resident.
Death Benefit Amount
Death benefit amounts range from $5,000 – $25,000 maximum. Spouses can also qualify for up to $25,000 of coverage if between the ages of 50-80.
Graded Death Benefit
When applying for guaranteed issue life insurance, it is important to understand the 2 year graded death benefit period. A 2 year graded death benefit means that if death occurs within the first 2 years of the policy, of anything other than an accident, the payout will only be 100% of the premiums you have paid plus 10% interest.
If death has occurred due to an accident within the first 2 years, the full death benefit will be paid to your beneficiary. After the 2nd policy year, the full death benefit will be paid to your beneficiary regardless of how death has occurred, meaning either accidental or health related. The policy death benefit paid to the beneficiary will be tax free.
Sample Monthly Rates for Both Males & Females
When to Consider Guaranteed Issue Life Insurance Coverage
Guaranteed issue life insurance is not always the best option for everyone due to the cost and minimum coverage amounts. However, guaranteed issue life insurance can be the best options for both senior citizens and individuals who have been turned down for life insurance due to medical reasons.
Although the maximum amount of coverage obtainable with guaranteed issue life insurance is $25,000, it can help pay for final expenses such as medical bills, debts and funeral costs.
Alternative to Guaranteed Issue Life Insurance
Guaranteed issue life insurance can be costly compared to traditional life insurance. For those who can medically qualify for life insurance coverage, a traditional life insurance policy will be much cheaper than guaranteed issue life insurance coverage.
IMPORTANT: If you have a medical condition and are not sure if you would be disqualified for traditional life insurance coverage, please contact a Top Quote Life Insurance agent and we will help determine the best type of coverage for you to apply for. Some medical conditions may not disqualify you for applying for traditional life insurance coverage.
Guaranteed Issue Vs. No Medical Exam Term Life Insurance
It is important not to confuse guaranteed issue life insurance and no medical exam life insurance. No medical exam term life insurance coverage still requires you to answer medical questions about your past and current health. With no medical exam term life insurance you can be denied coverage with a history of poor health.
Guaranteed issue does not require any medical exam or questions and you cannot be denied coverage, as long as you are between the ages of 50-80 and are either a U.S. citizen or permanent legal resident.
Pros & Cons of Guaranteed Issue Life Insurance Coverage
- Guaranteed issue regardless of medical history
- Simple application process
- Quick approval time
- Permanent coverage with a fixed premium
- Maximum death benefit is $25,000
- Much more expensive than qualifying for traditional coverage
- Will only pay out full death benefit after the 2nd year
Requesting a Guaranteed Issue Life Insurance Quote
If a guaranteed life insurance policy makes sense for your current situation and you would like a quote or to apply for coverage, please feel free to call us toll free (888) 777-7574 or send a message below.
Guaranteed issue is not quotable on our quote tool, so please be sure to provide the following and we will mail or email you an application to get started.
- Email or Address
- State of Residency
- Date of Birth
- Amount of Coverage