A Guaranteed issue life insurance policy usually has a minimum age requirement (age 50 is a common one, but it can vary).
It also has a low maximum face amount of life insurance coverage available (often under $25,000).
And guaranteed issue life insurance policies generally provide a graded death benefit during the first 2-4 years, which means that they would pay out a reduced benefit, or return all your premiums plus a little extra (interest on the premiums paid), if death occurred within that time period due to illness.
With guaranteed issue life plans there are no health exams required and you can apply online for your life insurance coverage.
It also has a low maximum face amount of life insurance coverage available (often under $25,000).
And guaranteed issue life insurance policies generally provide a graded death benefit during the first 2-4 years, which means that they would pay out a reduced benefit, or return all your premiums plus a little extra (interest on the premiums paid), if death occurred within that time period due to illness.
With guaranteed issue life plans there are no health exams required and you can apply online for your life insurance coverage.
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