Life Insurance Basics
What is simplified issue life insurance?
Simplified issue life insurance requires you to answer a few health questions but does not require a medical exam. Approval is typically faster than fully underwritten policies. Simplified issue policies have lower coverage limits and higher premiums than fully underwritten policies.
Key Points
- Simplified issue: answer health questions, no medical exam
- Faster approval than fully underwritten policies
- Lower coverage limits than fully underwritten policies
- Higher premiums than fully underwritten policies
- Best for: people who need coverage quickly or cannot qualify for fully underwritten coverage