Guaranteed Issue Life Insurance

Guaranteed acceptance life insurance is something people may be interested in these days. With guaranteed issue life insurance, people may generally be guaranteed a policy with two exceptions – if they are currently in a nursing facility or hospital. Here are the most common questions they receive on the subject:

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So how does guaranteed acceptance life insurance work?

When you have a guaranteed acceptance life insurance policy, in many cases, you may be guaranteed an insurance policy. A guaranteed acceptance life insurance policy may be a type of life insurance without a medical exam.

How quick can a guaranteed life insurance policy available?

Because there is typically no underwriting in a guaranteed issue life insurance policy, you may get a policy very quickly. With a standard life insurance policy, the underwriting could take longer to be put into effect. In addition, because you generally don’t need a medical exam with a guaranteed acceptance life insurance policy, it may be implemented relatively quickly.

What is a guaranteed acceptance life insurance policy classified as: universal or term?

It may be either one. It could be either term life or whole life.

How expensive is guaranteed issue life insurance?

Generally speaking, a guaranteed acceptance life insurance policy may cost more than other insurance policies. The actual rate may depend on your personal situation.

Guaranteed life insurance may not be a good idea if you are in great health and can easily get a standard life insurance policy, as it will generally cost you more money.

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"Did you know that since 2005 the percentage of U.S. adults without life insurance has nearly doubled?"*