Affordable Life Insurance Protection for Your Family

What To Look For In A Guaranteed Life Insurance Policy?

What to Look for in a Guaranteed Life Insurance Policy?

One of the elements that make purchasing life insurance a complex decision is the multitude of factors that one must consider.

Among the crucial considerations is the type of life insurance that suits a person's needs and circumstances.

Among these, guaranteed life insurance has become an appealing choice for those struggling with certain conditions – health, age or financial.

Jump Ahead To These:

What is Guaranteed Issue Life Insurance?

What to Consider When Buying Coverage

Who Needs Guaranteed Life Insurance?

Limitations of Guaranteed Issue Policies

Pros and Cons of Guaranteed Policies

Top Providers of Guaranteed Life Insurance

Making the Decision to Buy Guaranteed Life Insurance

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What is Guaranteed Life Insurance?

As its name implies, guaranteed life insurance ensures acceptance, bypassing the common hurdles of medical examinations or meticulous health assessments that often deter those with compromised health.

By offering a policy that doesn't discriminate based on pre-existing health conditions, these plans often serve as a lifeline for people who may feel they have exhausted all their insurance options.

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What to Consider When Buying Guaranteed Life Insurance

As is the case with any insurance policy, it's essential to understand the intricacies of a guaranteed life insurance policy, its benefits, drawbacks, and beyond, before deciding to invest in one. Let's delve into what factors to look at when considering a guaranteed life insurance policy.

First off, ascertain whether the policy indeed offers guaranteed acceptance. This element is non-negotiable and must be checked carefully to confirm that there are no loopholes that might deny coverage due to health status.

Next, consider the premiums. Do they fall within your budget? It's crucial to understand that the premiums for a guaranteed life insurance policy might be higher than traditional life insurance, given that the insurer is taking on more risk. However, the cost should still be feasible under your financial circumstances, without straining your budget.

Also, inquire about whether these premiums remain level for the life of the policy. This feature is especially vital for those depending on a fixed income, as it provides assurance that the cost of coverage won’t suddenly escalate and become unaffordable.

Examine the death benefit amount. Does it meet your needs? Considering most guaranteed life insurance policies offer lower coverages, this is a critical area to scrutinize. Think about your family's financial needs - will this be sufficient to cover final expenses, or provide a modest inheritance?

Check any waiting periods for full benefits. A common condition with guaranteed issue life insurance policies is the graded benefits clause, where full benefits aren't payable within a certain period - usually two years - after the policy is issued unless the death is due to an accident.

Lastly, assess the financial strength and credibility of the insurance provider. The importance of a reliable company cannot be overstated in ensuring your beneficiaries receive their due benefits when the time comes. 

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Who Needs Guaranteed Life Insurance?

Guaranteed life insurance is especially advantageous for those with certain medical conditions that make it difficult or practically impossible to secure other types of life insurance.

People who have had a recent heart attack, been diagnosed with severe medical conditions, been denied coverage by other insurance companies due to their health or are obese or excessive smokers can gain enormously from guaranteed life insurance.

Also, if you're someone with a limited budget yet want to provide for your family's future, financially speaking, a guaranteed life insurance policy may be just the answer. This way, you can ensure there's enough to cover funeral and final expenses, or perhaps even leave a small legacy or death benefit for your children or grandchildren.

Yet, it's important to remember that guaranteed life insurance should only be considered after exhausting all other options. This is primarily due to its high costs and limited coverage. While these are understandable, given the high-risk the insurer takes on, they do pose certain limitations.

Furthermore, there is an age criterion to meet. Most companies, including Mutual of Omaha, require applicants to be between 40 and 50 years old for minimum age and 80 or 85 for the maximum. Request a FREE Quote.

Limitations of Guaranteed Issue Life Insurance Policies

Maximum Amount of Coverage Available

Another aspect to consider is the coverage cap. Guaranteed life insurance usually provides low coverage between $10,000 and $25,000. This makes it ideal only for covering finite expenses such as medical bills, funeral costs, or small debts, rather than higher financial requirements like estate planning or wealth replacement.

Cost of Coverage

As mentioned, guaranteed life insurance commands higher premiums than other insurance policies given the insurer's risk. It is therefore prudent to closely compare prices and benefits across companies before making a decision.

Graded Benefits

The waiting period or graded death benefits clause is also a vital aspect to remember. In the event of death within the waiting period, the beneficiaries receive only the premiums paid plus interest, not the full death benefit. You do not have full death benefit coverage until you are insured for two years. If you pass away before two years, the benefit paid out is limited, except for accidental death.

Pros and Cons of Guaranteed Life Insurance


  • Permanent Lifetime Protection
  • Guaranteed Approval Ages 45-85 (*45-75 in NY)
  • No Medical Examination Required
  • No Health Questions Asked
  • Quick and Easy Approval for Coverage


  • Limited Amount of Coverage Available
  • Graded Death Benefits First 2 Years Insured
  • Rates are Higher Than Standard Life Insurance Policies

Summary of Pros and Cons for Guaranteed Coverage

Most guaranteed issue policies also build a cash value, which can be accessed through a policy loan. Yet, owing to the limited coverage amount, don't expect much cash value to accumulate, so plan your borrowing accordingly.

While some companies may create intricate policies, Mutual of Omaha’s guaranteed whole life insurance is quite straightforward, with coverage choices of up to $25,000 for people between the ages of 45 and 85.

Although guaranteed issue life insurance doesn't require a health examination or health questions, there is a pertinent query that often comes up: what is the maximum coverage one can obtain?

The maximum coverage level may vary by company, but it often stops at $25,000. For individuals who need more coverage you may purchase a policy from more than one life insurance carrier, such as, Mutual of Omaha and Gerber Life.

Often, guaranteed issue life insurance is used as burial coverage. Given its small amount of insurance provided, suitable for burial or final expenses, many regard it as a sort of burial insurance.

Top Providers of Guaranteed Life Insurance

Now that we've weighed the pros and cons to expect when purchasing a guaranteed life insurance policy let's review some of the top providers. Mutual of Omaha stands out as a top choice, thanks to its affordable rates as low as $8.84 per month, age inclusion of 45 to 85 years, and highly accessible customer service.

Among the other choices in the market, MetLife provides rates as low as $10 per month, with up to $20,000 of coverage available for ages 45-75. No medical examination is required, and a two-year limited benefit period applies.

AARP/New York Life provides permanent group life insurance up to $15,000 exclusively for AARP members, with no medical exam or health questions. A two-year limited benefit period also applies here.

Mutual of Omaha. A provider with strength, longevity, and customer satisfaction at its core, Mutual of Omaha serves as a go-to for many seeking guaranteed life insurance coverage.

Mutual of Omaha provides guaranteed issue life insurance up to $25,000 for individuals aged 45 to 85, ensuring that no one in this age bracket is left uninsured. The company is known for its comprehensive coverage and transparent guidelines, which make it an ideal choice for seniors or individuals with health conditions.

Moreover, Mutual of Omaha’s premiums remain level over time, which means your costs won't suddenly escalate due to age or health changes. This feature is particularly beneficial for seniors living on a fixed income.

Regarding the waiting period, like most guaranteed life insurance providers, Mutual of Omaha also imposes a two-year graded death benefits clause. However, beneficiaries stand to receive the premiums paid plus a refund rate if the policyholder dies within this period, providing your family some relief during this difficult time.

Moreover, Mutual of Omaha stands tall in financial strength and stability, a critical factor when considering the viability of the life insurance company you choose. This ensures that when the time comes, the company will be able to fulfill its policy obligations.

Top Guaranteed Life Insurance Companies

Mutual of Omaha

  • Up to $25,000 of coverage
  • No physical exam and no health questions asked
  • Guaranteed Acceptance ages 45-85 (50-75 in NY)
  • 30 day money-back guarantee.
  • Two year limited benefit period

Met Life

  • Rates as low as $10 per month.
  • Guaranteed Issue for ages 45-75.
  • Up to $20,000 of coverage available.
  • No medical examination required.
  • Two year limited benefit period.

AARP/NewYork Life

  • Rates as low as $10 per month.
  • Guaranteed Issue for ages 45-75.
  • Up to $20,000 of coverage available.
  • No medical examination required.
  • Two year limited benefit period.
  • Up to $15,000 permanent group life insurance
  • Exclusively for AARP members
  • No medical exam and no health questions
  • Two year limited benefit period

In some cases, people who would be turned down for a life insurance policy are those who have serious health 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 life 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, if they meet the age requirements for approval.

Making The Decision to Buy Guaranteed Life Insurance

Remember, that time is of the essence. Choosing a guaranteed life insurance plan might seem like a daunting task, given the multitude of factors to consider and choices to sift through.

Yet, remember, life insurance is a decision that shouldn’t be delayed. So, don’t wait for the unforeseen to strike. After all, guaranteed life insurance plans can give you the peace of mind you need, knowing that your loved ones will have financial support when they need it most.

Understanding what to look for in a guaranteed life insurance policy is your first step. To obtain a policy best suited to your needs, ensure you consider things like guaranteed acceptance, affordability of premiums, death benefit amount, waiting periods, and the financial stability of the insurance company.

In addition, consider getting a FREE quote for insurance coverage before making any final decisions. A free quote can help you understand what kind of premiums to expect and how these work with your budget. It allows you to plan your finances better and ensures you are making an informed choice.

Remember, the security provided by a guaranteed life insurance policy from a reputable company like Mutual of Omaha can be invaluable. It gives you peace of mind, leaving you assured that your loved ones will have the financial support they need in the event of your passing.

Moreover, having a guaranteed life insurance policy lets you breathe easier, knowing that your health status won’t limit your ability to secure insurance. This peace of mind is priceless, especially in uncertain times.


If you're searching for an insurance plan that ensures coverage regardless of health conditions, offers a simplified process, and guarantees acceptance for seniors, then consider a guaranteed life insurance policy. Request a free quote for guaranteed issue life insurance coverage today and make a proactive step towards securing your family’s future. Don't delay - secure peace of mind for you and your loved ones with a policy tailored to your needs. After all, tomorrow is uncertain, but your financial security shouldn’t be.

Guaranteed Life Insurance Quotes

Top Pick – Mutual of Omaha

Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 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.

  • Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee

What to Look for in a Guaranteed Life Insurance Policy?

Disclosure: Compensated Affiliate