Guaranteed Life Insurance

Guaranteed life insurance is tailored for seniors who face challenges in qualifying for traditional life insurance policies or passing the medical questionnaire for simplified issue coverage.

This type of insurance requires no medical exam and has an extremely brief application process with no health questions. Virtually all applicants are approved, but there is a waiting period of at least two years before the full death benefit becomes payable.

Benefits of guaranteed life insurance

Guaranteed life insurance offers a straightforward solution for individuals who urgently need coverage and cannot pass a medical questionnaire. Here are the key benefits of this policy:

  • The premium remains fixed
  • The benefit does not decrease
  • Coverage does not expire as long as premiums are paid
  • No medical exam is required
  • No health questions to answer

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Available riders

Similar to simplified issue or other life insurance policies, guaranteed issue life insurance allows riders to customize coverage. Depending on the company, you may find the following riders available to add to your policy:

  • Accelerated Death Benefit — Provides policyholders with the option to use the death benefit for terminal illness-related medical costs instead of a post-death payout
  • Accidental Death — Doubles the payout if death is caused by an accident
  • Long-term care — Covers the cost of long-term care if your health insurer does not provide coverage

Is it worth it?

Guaranteed issue life insurance is designed for seniors who cannot pass the questionnaire for simplified issue and have limited options for covering their final expenses.

While the death benefit mib watch replicafake watches may not be as high as term life insurance, the main advantages of guaranteed issue include a benefit that never expires and a premium that remains constant. It also offers more flexibility than prepaying funeral expenses.

If you want to ensure that your family is not burdened with the cost of your funeral and burial, guaranteed issue life insurance is a viable option.

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