Guaranteed Term Life Insurance refers to Term Life Insurance coverage where the premium is guaranteed not to increase in price for the entire term (duration) of your term life insurance policy.
For example, if it is a guaranteed 20 year Term Policy, the price of your life insurance will stay the same for 20 years. You pay the same premium each year for the 20 years you have the term life insurance coverage.
The other option is that the term life policy does not have any health questions and applicants are guaranteed acceptance for the life insurance coverage.
However, guaranteed acceptance life insurance usually offers a small amount of life insurance coverage, $25,000 or less, and the rates are higher than you would pay for life insurance requiring a medical exam.
For example, if it is a guaranteed 20 year Term Policy, the price of your life insurance will stay the same for 20 years. You pay the same premium each year for the 20 years you have the term life insurance coverage.
The other option is that the term life policy does not have any health questions and applicants are guaranteed acceptance for the life insurance coverage.
However, guaranteed acceptance life insurance usually offers a small amount of life insurance coverage, $25,000 or less, and the rates are higher than you would pay for life insurance requiring a medical exam.
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