Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Guaranteed Issue Life Insurance

Many traditional term or permanent life insurance products require a process called underwriting, which evaluates your risk level to the insurance company by analyzing your age, health and other factors. Some people — especially those in poor health — may have a hard time getting approved.

Guaranteed-issue life insurance offers coverage without a medical exam or health questions and is an option for those who have been otherwise unable to obtain coverage.*

 

How Does Guaranteed-Issue Life Insurance Work?

Guaranteed-issue policies are usually only available to a specific age group (ages 50 to 85, as an example). They remain in effect for as long as you pay your premiums. Some other characteristics of guaranteed-issue policies include:

  • No medical underwriting. Guaranteed-issue policies don't require a medical exam or a health questionnaire, like other types of life insurance.
  • Smaller death benefits. Because there isn't extensive medical underwriting like with traditional life insurance policies, guaranteed-issue life insurance death benefits usually top out around $25,000. Some applicants may only qualify for less.
  • Have a graded death benefit. Guaranteed-issue policies typically feature a "graded death benefit" for an initial period of time. If you die within the first year or two of the policy, your named beneficiary may receive a return of premiums, but not the full death benefit amount.

Is a Guaranteed-Issue Plan Right for You?

It depends on your individual circumstances. Guaranteed-issue policies are typically seen as a "last resort" for individuals in poor health who can't obtain other types of life insurance. If you've tried unsuccessfully to get life insurance coverage, a guaranteed-issue plan may be a good alternative. While the death benefits are smaller, you may be able to obtain enough coverage to pay for your funeral and other final expenses (the average funeral costs about about $7,100).

Guaranteed-issue plan premiums may be expensive, however. If you're in relatively good health, it's worth exploring traditional life insurance policies. If you don't want to take a medical exam or wait several weeks for your application to be underwritten and approved, simplified-issue policies are an option. They require health questions but not a medical exam. Issuance of the policy may depend upon answers to health questions set forth in the application

Learn More

To learn more about your life insurance options, contact a licensed agent at 1-800-966-7169 or read through our other guides below.

----------

This is an advertisement for life insurance. 
*Guaranteed issue life insurance policies are available to individuals within a certain age range. You will receive only the benefit amount in the policy issued. Plans may have a graded death benefit for the first two years. In order for the policy to remain in effect, premiums must be paid as they become due.

Help protect your family’s future. Enter your zip code to get your free quote today!

Get Your Free Quote

Related Information

General Life Insurance Questions

Don't sign up for a life insurance policy without answering these general questions. A licensed agent can help.

Read More

Why Have Life Insurance?

Here are 7 essential reasons for you to have life insurance. Compare term and whole life insurance and find a policy that's right for you and your family.

Read More

Life Insurance for 55-Year-Old Male

There are several life insurance policy options that are available for 55-year-old males. Learn more and find the best plan for you.

Read More

Understanding Long-Term Disability Insurance

With long-term disability insurance, you still receive a percentage of your income if you become disabled and can’t work for an extended period of time.

Read More

Can You Buy Life Insurance for Your Spouse?

Spouse life insurance is simply the act of taking out a life insurance policy on behalf of your spouse. Learn about your options.

Read More

Yes, You Can Buy Life Insurance On Your Parents

It's possible for you to buy life insurance for your parents. Learn more about what types of policies are available.

Read More

Calculate How Much Life Insurance You Need

Before purchasing life insurance, calculate how much money your family will need if you die unexpectedly. Learn how to evaluate your life insurance needs.

Read More

Life Insurance Pros and Cons

Before weighing out the pros and cons of life insurance, it's important to understand its benefits. How do term and whole life policies differ?

Read More

Life Insurance Companies

Choosing a life insurance company can be difficult. A licensed agent can help.

Read More