Guaranteed Issue Whole Life Insurance – Our Simple Guide

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Guaranteed Acceptance or Issue = No Medical Question Life Insurance

If you have been searching for guaranteed life insurance for seniors, this is what you are looking for.  Just understand, the proposed insured typically must be under age 81 and legally competent to consent to the insurance.  Power of Attorney (POA) is not acceptable to any insurer at this point, sorry.

With that said…

What you will find most common among the different polices issued as “Guaranteed Issue” are the following attributes-

  1. No medical exam required
  2. No medical questions – Yes, including someone with terminal cancer, HIV/AIDS, or Alzheimer’s Disease can qualify.
  3. Reduced Death Benefit for the first 2 to 3 policy years – Accidental deaths do pay out the full face amount.
  4. Whole life insurance and guaranteed cash value accrual
  5. You cannot currently be confined to a nursing home or skilled nursing care facility.

How You Can Get a Quote

Sorry that our quote widget on the right does not quote guaranteed issue policies.  It is there for convenience of individuals browsing our website that are in fair health or better for their age.  I apologize for any lack of sensitivity.  No offense intended.  You may certainly use it but might consider giving us a call first to clarify ratings if your health isn’t good for your age.

For the fastest service, call us at 269-230-3464.  We do our best to provided a fast quote, but high risk cases can take a bit more time to sort out.  Getting you a realistic estimate it the goal.

Should I Buy a Guaranteed Issue Whole Life Insurance Policy?

To be clear, a guaranteed issue life insurance policy should be the absolute last resort.  It is generally for people with very serious medical conditions or have a high risk as a life insurance applicant.

Understand that most anyone can qualify for it and as a result, it is usually quite expensive compared to traditional life insurance or even no medical exam, graded benefit life insurance that has some basic health questions.

We would recommend you exhaust other whole life insurance options before purchasing.  Call us, we can help you sort this out.

Before You Decide Guaranteed Acceptance Life Insurance Sounds Good, Let’s Be Sure You Can’t  Qualify for Something Less Expensive

There is not much sense in getting drastically overcharged, right? A good percentage of people in high risk situations can still qualify for a no medical exam, simplified issue life insurance policy, versus more expensive “guaranteed issue” life insurance coverage.

We have insured tough cases with traditional, medically underwritten policies plenty of times.  Diabetes types I and II or folks with a preexisting medical condition situation… a heart attack history, heart transplants, stroke history, previous cancer history, rheumatoid arthritis, MS, even applicants well over 300 pounds and the list goes on. 

We encourage you to avoid “guaranteed life insurance for seniors” if at all possible. 

Be well aware…

Health conditions are one of our specialties and we like working for the underdog…to save you money and obtaining the best coverage possible for you and your family!

Just for starters… if you can answer all of the following questions with “NO”, then you are a good candidate for a graded benefits policy, and don’t need to be paying the extra cost of guaranteed issue.

1) Have you been diagnosed as having or been treated by a

Physician for:

a. Human Immunodeficiency Virus (HIV), Acquired Immune

Deficiency Syndrome (AIDS) or AIDS Related Complex


b. Alzheimer’s disease or Dementia, Amyotrophic Lateral Sclerosis

(ALS), mental retardation or Down’s Syndrome or do you

require the assistance of another person for dressing,

bathing, toileting, or mobility or do you use an oxygen tank?

2) Have you, within the past 2 (two) years:

a. Had a heart attack (myocardial infarction) or stroke

(cerebral vascular accident)?

b. Have you or are you now awaiting an organ or bone marrow transplant

(except as a donor)?

c. been diagnosed with cancer, received or been prescribed

radiation or chemotherapy or have you received or been

prescribed dialysis?

d. Been confined to or been advised by a licensed medical

professional to be admitted to, a nursing home, hospice,

extended care or special treatment facility or are you now


e. Used controlled substances such as cocaine, heroin, amphetamines,

barbiturates or hallucinogens except as prescribed

by a physician or been treated for or been advised

by a physician to seek treatment for drug or alcohol use?

f. Been advised by a licensed medical professional that your

life expectancy is less than 24 months?

g. Had more than one DUI (DWI) violation, been convicted of

a felony or are you now on probation?

If you were able to answer “NO” with no sugarcoating to all the questions above, call us at 269-230-3464 to get a graded death benefit quote or use of instant quoting tool on this page by selecting “Decent Health” in the tool drop down menu. 

You may even qualify for more even more affordable, permanent coverage by answering a few more health questions.  The best way to see if you qualify, is simply give us a call.

If You Answered “Yes” to  Any of the Above Questions…

With any “yes,” in the questions above, we may need to consider a guaranteed issue life insurance policy. 

If you are age 75 or older and have a terminal illness or medically uninsurable condition, we recommend that you consider a prepaid burial plan with a funeral home.  Guaranteed Acceptance Whole Life is quite expensive at these ages particularly for me.

Now, if you or a love one have been diagnosed with Alzheimer’s, Dementia, terminal cancer or have kidney failure, this is the type of life insurance for you.

What if I’ve been Declined for Life Insurance Already?

If you’ve been declined coverage by multiple insurance companies, you’ve probably found the right type of coverage for you.  Whether it is traditional, graded or guaranteed issue life insurance, the health questions above do dictate your overall “health rating.”

Folks, my recommendation is always to apply for the least expensive type of coverage whether available.  That is the point of this article.  With that said, these are very sound solutions for your needs and have the benefit of no medical exam and the ease of issue to boot.

Just about anyone can qualify.

Guaranteed Issue Life Insurance Conclusion

Be careful of the product, carrier or agent you place your business with.  More often than not, we come across people who have bought, were “sold” or did not understand what they were purchasing and the family ended up in a bad situation financially.  There are some big name life insurance companies that push guaranteed acceptance coverage on TV.  High paid endorsers who are not life insurance experts are employed to divert your attention from the product limitations.

Guaranteed issue coverage is the least affordable type of life insurance. It always has the most limitations in it of all whole life insurance policies regardless of the insurance company who offers it.  I know you have heard it is “affordable.”  Compared to other types of whole life insurance, it usually is not. The value of ownership is lower.   Many well intending people are sold overpriced, lower benefit policies.  Realize no health questions equals reduced benefits for the first 2-3 years of your coverage.  Your beneficiary will not receive anywhere near the death benefit unless you pass away from an accident during this period.  Be sure you understand…insurance companies cannot give you full benefits with guaranteed issue as there are no health questions to evaluate your as a risk.  Since they cannot assess you accurately as a risk, put a higher premium and limited benefit on the first couple years to negate the risk.

You might consider reading our review of one common television advertiser of guaranteed acceptance life insurance.  Yup, we all know them, Colonial Penn.   That review is located here.  I’m sure you will be pleasantly surprised to find out how much there is to be saved by working with a professional who works with all the top carriers and is there to protect your interests.  Someone who works for you, shopping your needs to find you the best solution instead of encouraging the most expensive form of coverage.

You may benefit by looking into your real insurance options a little deeper by looking into a final expense life insurance policy.  With that said, I would recommend taking a look at this article to gain a little more senior life insurance knowledge and the more affordable options with full benefits upon acceptance.

We are here to help you protect your loved ones and saving you your hard earned money.  Please call us at 269-230-3464 for your free consultation, quote and the coverage details.  Any application for coverage can be complete painlessly phone with no hassles when you are ready.