The only option available for those wanting life insurance was to
purchase a guaranteed issue life insurance policy.
First, those who have serious health issues and have been denied coverage in the past may have to
purchase guaranteed issue life as an insurance of last resort.
The main reason to
purchase a guaranteed issue life insurance policy is to avoid having to go through having to take a medical exam and answer a bunch of questions related to one's medical history.
How Do
I Purchase Guaranteed Issue Life Insurance?
If you've have been declined by other insurance companies you may still qualify to
purchase a guaranteed issue life insurance policy.
Which means that when
you purchase a guaranteed issue life insurance policy, because it will contain a graded death benefit, you will not be covered in the event that you die from an illness for some set period of time (typically for the first 2 - 3 years after purchasing your life insurance policy).
The «length» of a graded death benefit period will vary depending on which insurance company you choose to
purchase your guaranteed issue life insurance policy with, but in general, most graded death benefits will usually last 2 - 3 years.
But remember, because guaranteed issue life insurance policies aren't going to ask you any questions about your current health status, it's «theoretically» possible to
purchase a guaranteed issue life insurance policy from hospice!
Meaning that the amount of money that you will need to spend to
purchase a guaranteed issue life insurance policy would buy you a lot more coverage if you were able to qualify for a traditional term or whole life insurance policy.
When you first
purchase your guaranteed issue life insurance policy, it will not provide coverage for you if you happen to die from a «natural» cause of death like:
You «can»
purchase a guaranteed issue life insurance policy doesn't mean that you should
purchase a guaranteed issue life insurance policy!
Which is a SIGNIFICANT disadvantage to these types of life insurance policies so we want to be sure that you fully understand exactly what a graded death benefit is or at the very least know that you need to ask about it if and when you decide to
purchase a guaranteed issue life insurance policy.
If you have been given a short period of time to live, then it may not make sense to
purchase a guaranteed issue life insurance.
Purchase a guaranteed issue life insurance policy doesn't mean that you should
purchase a guaranteed issue life insurance policy.
Guaranteed issue life insurance policies aren't going to ask you about your health so in theory, you can be really sick and still
purchase a guaranteed issue life insurance policy.
You can qualify for a guaranteed issue life insurance policy doesn't mean that you should
purchase a guaranteed issue life insurance policy!
You can wait for them to give a definite answer or you can
purchase a guaranteed issue life insurance policy.
If you have any of the illnesses listed above, or have any other health issues, you can
purchase guaranteed issue life insurance from the options listed below.
Although you can
purchase guaranteed issue life insurance policies quickly, the small payout they provide may not work for you.
Another way that you can skip all of the medical underwriting is to
purchase a guaranteed issue life insurance policy.
Many consumers
purchase Guaranteed Issue Life Insurance to pay their final expenses and often times they can qualify for less expensive life insurance policy to cover their funeral expenses.
However... What we can tell you is that Mutual of Omaha is a great company, and that, if you're looking to
purchase a Guaranteed issue life insurance policy, there won't be any medical questions asked.
Normally you will never
purchase Guaranteed Issue Life Insurance for Scuba Diving.
One option for life insurance is to
purchase a guaranteed issue life insurance plan.
Many consumers
purchase Guaranteed Issue Life Insurance to pay their final expenses and often times they can qualify for less expensive life insurance policy..
Those who are unable to qualify for life insurance based on this and other health factors may be able to
purchase a guaranteed issue life insurance plan.
You may be able to
purchase guaranteed issue life insurance in these cases.
Companies like Mutual of Omaha for example allow you to
purchase their guaranteed issue life insurance directly from their website.
If you are in that situation, your only option is to
purchase a guaranteed issue life insurance policy.
You may be able to
purchase guaranteed issue life insurance in these cases.
He does not want to burden his children with his final expenses so he plans on
purchasing guaranteed issue life insurance.
For this reason, we would highly recommend that if you are considering
purchasing a guaranteed issue life insurance policy, you first give us a call directly before you make any decisions one way or another.
It's for this reason that most folks should not be
purchasing guaranteed issue life insurance.
Prior to actually
purchasing your guaranteed issue life insurance policy, we'll be glad to show you where «within» the policy that this is clearly stated.
Ultimately, if any of the health situations apply to you, you stand to save money by
purchasing a guaranteed issue life policy from either Gerber Life, Mutual of Omaha, or AIG.
While it may be expensive, you'll get a higher death benefit and better terms than if
you purchased a guaranteed issue life insurance policy.
Which means that if $ 25,000 dollars in coverage isn't going to be enough for you, you're probably not going to be all that interested in
purchasing a guaranteed issue life insurance policy.
So... if you do use tobacco or nicotine,
purchasing a guaranteed issue life insurance policy may be pretty good deal for you price wise.
Which means that while you probably won't be able to qualify for a Standard or better life insurance rate, at least now you'll have a pretty good chance at getting approved for a traditional term or whole life insurance policy and won't have to settle on
purchasing a guaranteed issue life insurance policy if that isn't the right policy for you!
The two primary factors for
purchasing a guaranteed issue life insurance policy are age and cost.
A newly
purchased guaranteed issue life insurance policy will pay the entire face value right away if the insured's death is the result of an accident (such as a car crash), or if the insured was the victim of a crime.
Graded death benefit clauses are clauses written by the insurance companies to protect them from insuring individuals who are very ill and might die from natural causes shortly after
purchasing their guaranteed issue life insurance policy.
A graded death benefit is a «clause» written into most (if not all) guaranteed issue life insurance policies which require the insured to «wait» for a period of time before their newly
purchased guaranteed issue life insurance policy will begin providing coverage for «natural» causes of death.
Basically, what a graded death benefit will state is that after you have
purchased you guaranteed issue life insurance policy, in order for it to provide a death benefit for natural causes, you will need to «NOT DIE» from natural causes for at least 2 - 3 years depending on the insurance company that you decide to use.
So, with that said, let's take a moment and review what we consider the 3 main disadvantages to
purchasing a guaranteed issue life insurance policy.
Which is why before you ever consider
purchasing a guaranteed issue life insurance policy you will want to fully understand the graded death benefit attached to it.
In our opinion, graded death benefits are clearly the biggest disadvantage in
purchasing a guaranteed issue life insurance policy.
Which causes a problem when one is considering
purchasing a guaranteed issue life insurance policy.
There really are only three things that are going to matter when it comes time to
purchasing a guaranteed issue life insurance policy:
We're going to start off with three of the main disadvantages with
purchasing a guaranteed issue life insurance policy first.