Guaranteed life insurance is exactly what it sounds like- life insurance that guarantees your acceptance. There are no medical exams, no medical tests, and just a few health questions to answer. These policies are designed for people who have been turned down with other companies because of serious pre-existing health conditions.
What makes guaranteed issue life insurance different from other types of life insurance is that the death benefit is graded. This means that if you die within the first two years there is a limited payout to your beneficiaries. For example, if you die in year 1, the policy may only pay out 25% of the death benefit. In year 2 it moves up to 50% and by year 3, your beneficiaries can receive the full death benefit.
Here are some features of guaranteed issue life insurance:
- No medical exam or tests
- Ages 50 to 85
- $3,000 to $25,000 worth of coverage
- Permanent life insurance
- Builds cash value
- Two year limited benefit period
If you need life insurance and you’ve been turned down before, or if you know you have some health conditions that make it difficult to obtain life insurance, then a guaranteed life insurance quote is right for you.
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I am looking for a burial policy for my 82 year old aunt. She is currently in good health but wants to have funeral coverage. Please send info to the above e-mail. Thank you.
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