Life Insurance Basics
What is guaranteed issue life insurance?
Guaranteed issue life insurance is available to anyone who applies, regardless of health status. No medical exam or health questions are required. Guaranteed issue policies have lower coverage limits (typically $5,000-$25,000) and higher premiums than traditional policies. Most guaranteed issue policies have a graded benefit period.
Key Points
- Guaranteed issue: available to anyone, regardless of health status
- No medical exam or health questions required
- Lower coverage limits: typically $5,000-$25,000
- Higher premiums than traditional policies
- Most have a graded benefit period of 2-3 years