The company does not perform any underwriting
for guaranteed issue life insurance policies, so the entire application process will be much shorter than applying for a regular policy.
There are some disadvantages associated
with guaranteed issue life insurance policies you should know about before you should just «run out» and buy one!
Yes — the same company you see advertising for life insurance for your kids, also
offers Guaranteed Issue life insurance for those who are 50 years and older.
For more information
about guaranteed issue life insurance policies, we would recommend that you take a look at our article covering the best final expense and burial insurance companies.
The other caps are associated with age because
most guaranteed issue life insurance companies will only give you coverage if you are between ages 40 to 70.
You should only look
at guaranteed issue life insurance if you have exhausted your other life insurance options, especially if you are under the age of 65.
There are three companies in particular that have the absolute lowest rates
on guaranteed issue life insurance policies.
In fact, the main reason people usually get a guaranteed issue policy is
because guaranteed issue life insurance companies offer it with no questions asked.
It's important to understand that
while guaranteed issue life insurance policies can be a great option for many, the «ease of qualifying» will come at a price.
If you can not get simplified issue,
then guaranteed issue life insurance from one of the best final expense insurance companies may be your one and only option.
You can learn more about the differences between simplified issue
vs guaranteed issue life insurance in our accompanying article.
So, let's take a moment and discuss
why guaranteed issue life insurance policies can take the risk of insuring someone that could «potentially» be really sick.
In any case, your goal is to
obtain guaranteed issue life insurance without waiting period so that your family can have financial peace of mind in case the worst should happen.
For this reason it is important to speak with a professional life insurance agent that will have several
different guaranteed issue life insurance policy options to choose from before applying.
First, your age will need to play a role because, typically, it is people between 45 - 85 years of age that go for no
exam guaranteed issue life insurance.
Though guaranteed issue life insurance doesn't cover as much and is more expensive than traditional life insurance, it's still a great option for a lot of people.
This review is similar to that of our
top guaranteed issue life insurance companies review, and will discuss the company and the pros and cons of their no questions insurance policy.
This might sound like the perfect option, but there are several reasons to
avoid guaranteed issue life insurance unless it's a last resort.
Phrases with «guaranteed issue life»