Buy Life Insurance With no Health Questions and No Exam.
A guaranteed issue life insurance policy offers life insurance without requiring a physical exam or a review of your past medical history. This type of insurance policy is designed specifically for individuals who may have pre-existing health conditions. Anyone can qualify for this type of plan regardless of your health status. This form of life insurance is available to any applicants starting at age 40. So, even if you have a pre-existing condition, you will not be denied coverage. $25,000 is the maximum amount of death benefit coverage (possibly up to $50,000) that a guaranteed issue life insurance policy offers. The death benefit is a graded benefit plan and does come with a two-year waiting period (read more in the FAQ below). This type of policy can be a helpful way to pay for funeral costs and other small debts that get left behind. IMPORTANT: See our underwriting guidelines for high-risk impairments here. Your medical condition may qualify for traditional coverage.
The Waiting Period
There is a two year waiting period before this policy will pay the full death benefit. If the insured party does not live past the two year waiting period, the policy will return any previously paid premiums — plus 10% interest. This return is far better than what a savings account would deliver, if you were to withdraw your money and place it elsewhere.
This policy is only available to individuals within the 40-80 age bracket. We do, however, have a company that will offer lower amounts of coverage for younger applicants. Local Life Agents offers guaranteed issue life insurance policies starting at age 25. For more information about that option, you will need to speak with us directly.
When you buy a guaranteed issue life insurance policy the rates remain level throughout the duration of that policy. So, you never have to worry about the price increasing as you age or as your health may worsen.
Globe Life and AARP Guaranteed Issue Policies
Beware: There are life insurance companies like Global Life and AARP that offer a guaranteed issue policy, where the rate increases the longer you have the policy. We can tell you everything you need to know, to compare our guaranteed issue policies versus their products.
It’s Whole Life
Yes, Guaranteed Issue Life insurance is a whole life insurance policy, not a term life insurance policy. The guaranteed issue products are whole life insurance plans and will last until age 100. They do build a small amount of cash value, but the cash value does not grow fast and this is not the reason you would buy a guaranteed issue life policy. You would buy this because your health will not allow you to qualify for traditional life insurance.
These types of policies are also typically for seniors as most of the GI carriers have issue ages starting at 50 years old. However not for us we have companies that have issue ages starting at 25 years old. We offer guaranteed issue life insurance for seniors and young individuals. See below.