It is usually available for people over age 50, those with health conditions, or who take part in risky occupations or hobbies, or for people with a history of family health problems.
Some disadvantages of guaranteed life insurance may include the limited amount of life insurance available, the higher than standard rate for coverage, and the waiting period for full coverage to be available, which is usually 2-3 years after purchasing the policy.
Some guaranteed plans may provide up to $30,000 of simplified life insurance without any medical examination. Some plans offer life insurance coverage for people age 78 and under.
Some of the better-known providers of guaranteed life insurance plans may include Globe Life, Colonial Penn, NewYork Life, and Mutual of Omaha.
In addition, you may be able to apply online for life insurance for you and your spouse. Here's how you can learn more about guaranteed acceptance life insurance and request your free quote.