Life Insurance Quotes



Guaranteed Issue Whole Life

Have you been turned down for life insurance before or do you have some major health issues and worry that you can't obtain life insurance coverage? Guaranteed issue life insurance might be right for you. This type of coverage is exactly what it sounds like- a life insurance policy that is guaranteed to be approved. These types of policies are usually for those applicants who would normally be declined because of health problems such as cancer, heart conditions, stroke, kidney disease, uncontrolled diabetes, and even HIV.

How does guaranteed life insurance work?

A guaranteed issue life insurance policy has graded benefits. This means that the policy will not pay out the full death benefit until after the second year. For example, if you pass away within the first two years after getting your policy, your beneficiaries will only get back the premiums that have been paid into the policy. Some companies will pay out a percentage of the death benefit if you die in the first two years. If you pass away in year one, your beneficiaries might get 25% of the death benefit. In year two they will get 50% of the death benefit. After that they are eligible to receive 100% of the death benefit when you pass.

Guaranteed issue policies are:

  • Guaranteed- no one is turned down
  • Permanent whole life insurance
  • Graded benefits that pay out over time
  • Level premiums for life
  • Non-cancellable as long as you pay your premium

If you have major health issues, but you need a life insurance policy to cover your funeral and other final expenses, then a guaranteed issue policy is right for you.


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