Guaranteed Issue Life Insurance in Chicago: Your Complete Guide for 2025

Last Updated: November 8, 2025 | Written by President of Term Life Online – AU, AAI, ARM

Why Chicago Residents Choose Guaranteed Issue Policies

Living in Chicago means high healthcare and funeral costs. The average funeral in Chicago ranges from $7,200 to $11,800, depending on the funeral home and burial type.

A guaranteed issue policy can prevent family members from getting stuck with those expenses.

This type of policy is especially helpful if you:

• Have been declined for standard life insurance in the past
• Have health conditions like cancer, heart disease, COPD, diabetes, stroke history, or kidney issues
• Are a senior who wants affordable final expense coverage
• Want peace of mind knowing your family won’t face financial stress

Guaranteed Issue Life Insurance Companies Available in Chicago

Most guaranteed acceptance policies available to Chicago residents come from national insurers licensed in Illinois, such as:

 Company Name     Age Eligibility   Coverage Amount   Waiting Period      Notes

 Mutual of Omaha      45-85                 $2,000-$25,000         2 years             Trusted nationwide 

 Gerber Life               50-80                 $5,000-$25,000         2 years             Fast approval

 Allstate Benefits        18-70                 $10,000-$75,000        None               High Benefits

Note: Plan availability may vary by ZIP code.

Understanding the 2-Year Waiting Period

Because guaranteed issue life insurance requires no health qualifications, almost every insurer includes a 2-year waiting period before the full benefit is paid for natural causes.

During those two years, your beneficiary would receive are fund of premiums plus interest if death is not accidental.

After 24 months, your coverage is permanent and fully payable.

Note: Accidental death is fully covered from the start of your policy.

Estimated Monthly Costs in Chicago (2025)

Premiums depend on age, gender, tobacco use, and chosen benefit amount.

Here are sample rates for a $10,000 guaranteed issue policy:

                          Age           Male (Non-Smoker)        Female (Non-Smoker)

                            50              $35-$42/month                  $28-$36/month

                            60              $48-$62/month                  $41-$55/month

                            70              $78-$105/month                $66-$89/month

                            80              $135-$190/month              $105-$155/month

• These prices never increase, and your coverage never decreases.

How to Apply for Guaranteed Issue Life Insurance in Chicago

You can apply from anywhere in the city, including neighborhoods like Hyde Park, Bronzeville, West Loop, Oak Park, Logan Square, and all surrounding suburbs.

The application takes about 10 minutes and requires:

• Age and identity confirmation
• Beneficiary information
• Bank or card for premium payments
• There are no medical questions and no interviews.

Frequently Asked Questions

1. Can I get guaranteed issue life insurance in Chicago if I have serious health conditions?

Yes. Guaranteed issue life insurance is designed specifically for people who have health conditions that may prevent them from qualifying for traditional life insurance. There are no medical exams and no health questions, so approval is guaranteed as long as you meet the age requirements.

2. How much coverage can I get with guaranteed issue life insurance in Illinois?

Most policies in Chicago offer coverage amounts between $2,000 and $25,000. A small number of companies, like Allstate Benefits, may offer up to $75,000 depending on age and eligibility.

3. Is there a waiting period before my coverage is fully active?

Yes. Almost all guaranteed issue policies include a 2-year waiting period for natural causes of death. If the insured passes away during this period, the beneficiary will receive a refund of premiums paid plus interest. After two years, the full death benefit is guaranteed.

4. Are my premiums locked in for life?

Yes. Once issued, your monthly rate will never increase, and your coverage amount will not decrease as long as premiums are paid on time.

5. Can I use guaranteed issue coverage to help pay for funeral costs in Chicago?

Absolutely. In fact, that is one of its most common uses. A guaranteed issue policy can help cover funeral expenses, cremation services, cemetery fees, medical bills, and other end-of-life costs so your family isn’t left burdened financially.

6. How fast can I get approved?

Approval is typically instant, and coverage can begin the same day you apply. There are no medical records to collect, no labs, and no in-person appointments.

7. Can I buy guaranteed issue life insurance for my parents in Chicago?

Yes, as long as your parent is mentally capable of consenting and is within the eligible age range, you can pay for the policy while they are listed as the insured, and you may be named as the beneficiary.

Is Guaranteed Issue Your Best Option?

Guaranteed issue isnot always the cheapest option.

If you have any stable or managed health conditions, there might be simplified issue policies available with:

• Lower monthly premiums
• No waiting period
• Immediate full coverage

If you want, I can help you compare both options side-by-side to ensure you don’t overpay.

Final Thoughts

Choosing guaranteed issue life insurance in Chicago is about more than covering final expenses.

It’s about protecting the people who matter most. With guaranteed approval and lifelong coverage, you can put a plan in place today that ensures your family is supported tomorrow.

Peace of mind is just a few steps away. Request your free quote for guaranteed approval life insurance today.

Guaranteed Issue Life Insurance Quotes

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 – Allstate Benefits Insurance Company

Allstate Benefit's Guaranteed Acceptance policy offers $10,000 to $75,000 of coverage to working applicants between the ages of 18 and 70. Rates start as low as $9.65 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply today. Start Here to get a FREE Quote.

NOTE: To qualify, applicants must be working at least 20 hours per week and not collecting any form of disability income or SSDI.

No Waiting Period: The policy goes In Force on the first day of the month after it's purchased. For example, if the policy was purchased during the month of January, it would be active February 1st.

Resources:

• Guide to Guaranteed Acceptance Life Insurance
• Tips for Buying Guaranteed Issue Life Insurance
• Guaranteed Issue Life Insurance FAQs
• Pros and Cons of Guaranteed Issue Life Insurance
• A.M. Best Company: Compare financial strength ratings of life insurance companies
• Life Happens.org: Learn about life insurance and review facts.

About Our Methodology

Reviewed By: President of Term Life Online – AU, AAI, ARM

• 30+ years of experience in insurance planning

How We Keep This Guide Accurate: We regularly updates our content to reflect the latest rates and industry trends. We are committed to providing transparent, unbiased information to help you make the best decision for your family.

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