///Guaranteed Issue Life Insurance
Guaranteed Issue Life Insurance

Instant guaranteed issue life insurance quotes.

  • Up to $50,000 in Coverage

  • No Exam Needed

  • No Health Questions

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What is guaranteed issue life insurance?

A guaranteed issue life insurance policy is a whole life insurance policy which can be issued without the need to take a medical exam, nor answer any health questions on the application.

These policies are often used for individuals with major health issues who can not qualify for any other type of insurance.

It does, however, come with a graded death benefit.

The waiting period

Generally, guaranteed issue life insurance policies will have a graded death benefit which means there’s a waiting period.

This means that if the insured dies within the first two years of purchasing the policy, the beneficiary will not receive the stated amount of death benefit, but rather a return of the premiums paid in (oftentimes with interest depending on the carrier).

If, however, more than two years have passed when the insured dies, the full amount of benefit will be paid out to the beneficiary.

*Most carriers will pay a day one death benefit with a guaranteed issue policy if the cause of death is from an accident.

Who is this type of policy for?

For people who cannot meet the underwriting guidelines of a traditionally underwritten life insurance policy due to health issues, a guaranteed issue policy may be a good alternative for still securing the needed coverage.

That is because applicants to this type of life insurance are not turned away, even if they have been declined for regular life insurance in the past.

While guaranteed issue whole life insurance policy is not for everyone, it could be a good option for someone who has major health issues that would otherwise eliminate them from being accepted for a fully underwritten life insurance plan.

Cost of guaranteed issue life insurance

There are several criteria that go into the cost of guaranteed issue life insurance. These factors will typically include:

  • Age
  • State
  • Gender
  • Coverage Amount
  • EFT Payment Method

Unlike traditional fully underwritten policies, the rates do not differ based on tobacco use. Below are some real guaranteed issue life insurance rates from Gerber Life.

Age $5,000 $15,000 $25,000
Male age 50 $22 $65 $108
Male age 60 $32 $95 $158
Male age 70 $50 $148 $246

What are the maximum death benefits offered?

While all insurance carriers may offer different options for the guaranteed issue life insurance coverage they have available, in most cases, the maximum amount of death benefit will be between:

  • $5,000-$50,000

What it won’t provide*

Although guaranteed issue life insurance policies may be a good option for some people, it is important to understand what these plans may not provide. For instance, with guaranteed acceptance life insurance, you will not typically have:

  • Over $25,00 in coverage (We offer a $50,000 which is exclusive to us and our agents.)
  • Full amount of death benefit (at least for the first couple of years)

Remember, there is no such thing as a guaranteed issue life insurance with no waiting period. They do not exist.  The only way companies can offer a life insurance policy with no health questions or exam is by including the waiting period before the full death benefit is paid out.

Guaranteed issue life insurance companies

There are many highly rated life insurance companies that offer guaranteed issue life insurance policy options. Here are just some of the guaranteed issue life insurance companies we offer coverage from:

  • Gerber
  • Kemper
  • Nationwide*
  • Colonial Penn
  • Mass Mutual
  • American General

Carrier Death Benefit Issue Ages Waiting Period
Americo $2,000 – $30,000 50 – 80 3 years
American General $5,000 – $25,000 45 – 85 2 years
Gerber $5,000 – $25,000 50 – 80 2 years
Kemper $5,000 – $25,000 40 – 80 2 years
Nationwide $5,000 – $50,000 0 – 80 2 years

*Nationwide must have auto or home

See our carrier reviews. Find the best.

At Insurance Geek, we work with more than 30 of the top insurance carriers in the industry today. So, there is no need to spend time and effort sorting through policies and companies when we’ve already done the legwork for you.

As an independent insurance brokerage, we will help you to narrow down the coverage and the best guaranteed life insurance companies – as well as the premium – that works the best for you and your specific needs.

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