It can be difficult to find life insurance with any of the health conditions mentioned above, but there are insurers that
offer guaranteed life policies.
In addition to higher premiums, insurance companies that
issue guaranteed life policies protect themselves against risk in two additional ways: (1) by offering relatively low payouts, and (2) by typically not providing a death benefit during the first two years after issuing the policy (if the policyholder dies during this time, the company issues a refund of premiums instead).
AARP, a renowned life insurance provider, offers
guaranteed life policy up to $ 25k that requires no medical exam or health questions.
I would suggest a
Gerber Guaranteed Life policy with Graded Death Benefit for the first 2 years — other carriers will likely decline due to the stroke, but Gerber is guaranteed to offer coverage that will last his entire life.
In the end, all the competition among these companies is why most folks shouldn't be buying
a guaranteed life policy.
No guaranteed life policy with any company will ever pay out any portion of a death benefit if you die (non-accidental) during the first two years.
Qualifying for a funeral policy that has health questions results in two MAJOR benefits compared to defaulting to
a guaranteed life policy.
The main drawback with
guaranteed life policies is the waiting period.
You should also make sure you know about any time limitations and the restrictions on
your guaranteed life policy.
No medical exam is required, and the only condition for
a Guaranteed Life policy owner is that you are between 50 and 80 years old.
The only condition for becoming
a Guaranteed Life policy owner is that you are between 50 and 80 years old.
Gerber Life, which has provided life insurance to families throughout every stage of life since 1967, for example offers different types of life insurance to choose from, such Term Life, Whole Life, and
Guaranteed Life policies for adults including seniors.
For the most part, insurance companies will ask the same or similar questions for
a guaranteed life policy.
Meanwhile, if John applies for a 30 - year term $ 250,000 policy, Protective Life will likely offer him a monthly rate of $ 74 — almost half the price of
the Guaranteed Life policy.
Aside from it's industry leading juvenile life products Gerber Life Insurance Company offers Term Life, Universal Life, and
Guaranteed Life policies.
The main limitation of
a guaranteed life policy is that your death benefits are graded the first two years you are insured.
They specialize in selling affordable life insurance products including term life, universal life, and
guaranteed life policies.