Guaranteed issue life insurance companies and plans offer you the option of buying life insurance coverage even if you may have been declined before, or are finding it difficult to qualify for a life insurance policy.
There are many reasons people choose to buy a guaranteed life insurance plan, among the more common reasons are:
Age, Health Issues, Obesity, High Risk Occupation, High Risk Hobbies, Smokers, or having been Declined for Life Insurance.
The above-mentioned factors may place you in a High Risk category for life insurance. This means life insurance carriers may deny you coverage, charge you a higher rate, and/or limit the amount of the life insurance available to you. That’s why you may find yourself in need of guaranteed coverage for life insurance.
In some cases, people who would be turned down for a life insurance policy are those who have medical issues. These people do have an option because there are life insurance companies that will write a guaranteed issue life insurance policy for them. These lifer insurance policies do not require that applicants take a medical examination. Anyone in any situation can apply for this type of life insurance coverage, and they are guaranteed to receive a policy.
The guaranteed issue life insurance policy is good option for people looking for life insurance who have been in the following situations:
The Two Main Types of Guarantee Life Insurance Plans:
Graded Death Benefit Life Insurance is a type of life insurance policy that provides a limited amount of life insurance to begin with, and over time the amount of life insurance coverage will increase, either gradually before leveling off, or sharply before it becomes level.
For instance, a graded benefit life insurance plan that is guaranteed issued, may provide no coverage the first two years you own the policy, other than a return of premiums you have paid plus interest, but once you have been insured by the policy for two years, you will have full coverage.
Accidental Death Insurance is another form of guaranteed issue policy that provides instant protection from day one you are insured. There is no medical exam required and no health questions to answer when you apply for your policy. And, you may buy up to $1,000,000 of life insurance protection online. However, the death benefit is only paid out if you die as a result of an accident. Rates for this coverage are much lower than for regular life insurance or graded benefit life insurance plans.
Top Pick – United of Omaha
United of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $3,000 up to $25,000 of coverage. Rates start as low as $8.80 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. START HERE to get a FREE Quote.
Highly Recommended – Vantis Life
Vantis Life offers $5,000 to $20,000 of permanent life insurance with no medical examination required. There are no health questions asked. People age 50 to 80 cannot be turned down. Vantis is rated "A-" (Excellent) by AM Best for financial strength. Your premiums will never increase and your benefits will never decrease.