Guaranteed issue whole life insurance is a type of life insurance policy that does not require a medical exam or health questions. The policy is issued regardless of the applicant's health or lifestyle. It is designed to provide a death benefit to ensure financial security for the policyholder's beneficiaries.
Guaranteed issue whole life insurance is most often needed by people who cannot qualify for traditional life insurance, due to health conditions or lifestyle. It is also suitable for those who want to leave an inheritance to their loved ones, but do not want to undergo the medical exam required for standard life insurance policies.
The premiums for guaranteed issue whole life insurance are generally higher than for traditional policies and the death benefit is often lower.
The policy also typically has a graded death benefit, meaning that if the policyholder dies within the first two years, the beneficiaries will only receive a portion of the death benefit, increasing over time as the policy matures.
If you are a senior, need coverage for final expenses, or have been turned down for life insurance, this may be an option for you to consider.
Request a guaranteed issue life insurance quote
Guaranteed issue whole life insurance is most often needed by people who cannot qualify for traditional life insurance, due to health conditions or lifestyle. It is also suitable for those who want to leave an inheritance to their loved ones, but do not want to undergo the medical exam required for standard life insurance policies.
The premiums for guaranteed issue whole life insurance are generally higher than for traditional policies and the death benefit is often lower.
The policy also typically has a graded death benefit, meaning that if the policyholder dies within the first two years, the beneficiaries will only receive a portion of the death benefit, increasing over time as the policy matures.
If you are a senior, need coverage for final expenses, or have been turned down for life insurance, this may be an option for you to consider.
Request a guaranteed issue life insurance quote
RSS Feed
