Guaranteed issue whole life insurance
Guaranteed issue whole life insurance is a type of permanent life insurance designed for individuals between the ages of 45 and 80. Its primary feature is guaranteed approval, meaning you cannot be turned down for coverage based on your health. This makes it an accessible option for securing financial protection later in life, without the need for medical exams or answering health questions.
Guaranteed issue life insurance offers permanent coverage with fixed premiums. It’s specifically created for older adults—typically between 45 and 80—who may have pre-existing health conditions that could make qualifying for other types of life insurance difficult. The policy is designed to help cover end-of-life expenses, such as funeral costs or unpaid medical bills, so they don’t become a burden on your loved ones.
This type of coverage includes several key features that provide peace of mind:
- Guaranteed Approval: If you’re between 45 and 80, you’re guaranteed approval—no health history required.
- Lifelong Protection: As a form of whole life insurance, coverage lasts your entire life, as long as premiums are paid.
- No Medical Exam: There’s no need for lab tests or health questionnaires—just answer a few basic questions.
Cash Value: Your policy accumulates cash value on a tax-deferred basis, which can be accessed through policy loans. Note that loans will reduce the final death benefit.
Features and benefits of this coverage
With Ethos, getting coverage is simple and fast.
- Apply in Minutes: Our online application is straightforward. No medical exam or health questions needed.Guaranteed Issue whole life insurance | Ethos Life
- Choose Your Coverage: Select from options typically ranging from $2,000 - $25,000. Your premiums are locked in for life.
- Instant Activation: Once your payment is set up, your life insurance policy becomes active immediately and remains in force for life as long as you continue to pay the premiums.
Most guaranteed issue policies include a graded death benefit, which affects how the payout works in the first two years:
- During the Graded Period: If a non-accidental death occurs within the first two years, beneficiaries usually receive the premiums paid plus a small percentage (generally 10%–30%, varying by insurer).
- After the Graded Period: Full coverage amount is paid for death from any cause, minus any outstanding loans.
This policy may be a good fit if:
- You're 45 - 80 years old.
- You’ve been denied life insurance before.
- You need help covering funeral or end-of-life expenses.
- You want a permanent policy with cash value growth.
- You understand that guaranteed approval typically comes with higher premiums.
Still unsure? Explore how term life insurance compares if you’re considering other options.
FAQs
1. Who is eligible for guaranteed issue life insurance?
Generally between 45 and 80 qualifies—no medical requirements..
2. Do I need a medical exam to apply?
No. You won’t be asked for a medical exam or health history.
3. What can the death benefit be used for?
Beneficiaries can use it for anything—funeral expenses, medical bills, credit card debt, or a small inheritance.
4. What if I pass away during the first two years?
Due to the graded death benefit, your beneficiaries will receive all premiums paid plus a percentage (typically10–30%) for non-accidental death. After two years, the full death benefit applies.
Get a free quote online and find coverage that fits your budget and goals—all without the hassle of a medical exam. Just a few health questions in many cases.
Disclaimer: The information and content provided is for informational purposes only, and it is not to be considered legal, tax, investment, or financial advice, recommendation, or endorsement. You should consult with an attorney or other professional to determine what may be best for your individual needs.