What is Guaranteed Issue Life Insurance?

Guaranteed Issue Life Insurance is a product that does not require any medical exam, nor does it require you to answer any health questions at all. You simply answer a few questions about your personal info, make your first payment, and you are covered to the end of your life, as long as you keep making your monthly payment.

How can insurance companies offer this? They build into the product a two-year waiting period during which, if you die, you get limited benefits. For example, if you die in the first two years, many of these companies will only give your beneficiary all the premiums you paid plus 10%. Then, once year three begins, should you die for any reason your family will get the full death benefit amount that you selected when you signed up.

As an added feature, if in the first two years you die from an accident, your family will get the full benefit amount. But they will only get your premiums returned plus 10% if you die from anything other than an accident in the first two years.

Is this product worth it? Definitely. Many people who purchase these plans outlive the two-year wait period and so end up getting their full benefits to pay their final expenses. For those who die during the waiting period, they don’t stand to lose anything because all of their payments are returned and they even make an extra 10% in interest.

The bottom line is this is an innovative way for people with very serious health problems to get final expense coverage which otherwise would be unavailable to them. They don’t stand to lose anything, and they stand to gain anywhere from $5,000 to $15,000 for their family when they pass away.

Do you have serious health issues? Are you 90 years old or younger? In almost every case I can help you get approved for a plan. Call me at 209-268-8063 for a no pressure, 10-minute consult and quote. I’ll help you apply and get approved.