Guaranteed issue life insurance, is a life insurance product for which enrollment is fully guaranteed and includes coverage against accidental death and dismemberment.
Who should consider guaranteed issue life insurance?
- people with certain health problems who represent a higher risk for the Insurer. Because they’re not eligible for all the coverages of a conventional life insurance policy, guaranteed issue life insurance is a first-rate option for them
- people who would like to avoid undergoing medical examinations that can be demanding
- Eligibility between ages 18 and 80
- Sum insured may range from $2,000 to $20,000 (or more depending on the policy)
- Streamlined issue (meet medical conditions)
- Accidental death and dismemberment coverage is included at no extra cost
- Benefits up to 20% of the sum insured
- Guaranteed renewal