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by Jeff Rose
We get tons of inquiries on our site of individuals looking for guaranteed issue term life insurance.
In other words, they want to obtain life insurance without a medical exam.
It sounds to good to be true. Is it? Yes and No.
Let me explain…..
There are policies that will insure you without a medical exam.
Please keep in mind that guarantee issued life insurance policies, would not classify as cheap life insurance. Far from it.
The main reason is you do not have to answer any medical questions about yourself.
If you are looking for a guaranteed issue policy, they typically do not require any medical questions to be answered.
If you are looking for a simplified issue, or graded benefit insurance they will have just a few medical questions you will have to answer.
You can see the 4 basic questions that will be on all simplified issue or graded benefit policies below. Keep in mind, there may be more questions depending on the insurance company.:
Please note:If you need a quote for a non-medical exam or guaranteed issue life insurance policy you will need to contact our office to get a quote.
4 Easy Questions
If you’re a smoker does not mean that you’ll get denied. It just means that you’ll pay a higher rate.
The big questions are:
If you can answer no to these questions then you will get approved for a guaranteed acceptance life insurance policy. Yes, it’s that easy. Compared to the 6-8 process that typical underwriting takes when applying to traditional term life insurance, this is a breeze!
As stated above, you will not get denied for a guaranteed acceptance policy. So that’s the good news. What’s the not so good news? Here’s a few.
Guaranteed issue policies can typically be issued in two forms: term or whole life. Whole life policies will cost more, but can build some cash value if that’s a concern of yours.
Americo offers a guaranteed issue whole life product that does not require a medical exam. This product is available for ages 50-75 and has a max issue amount of $10k.
United Home Life offers a guaranteed issue whole life product that also requires no exam. The product is available for ages 45-75 but will only cover up to $10k.
Many people confuse Guaranteed Issue Life Insurance vs. Simplified Issue Life Insurance. There is a difference.
Graded Benefit Whole Life Insurance
National Brokerage has a new product that does not require a medical exam. The best part about this product is that you can do the application online and be approved within 10 minutes! This is the fastest approval for life insurance around. With 1ClickCoverage they ask a series of questions about your medical history, as long as you can answer no to these questions, you can be approved for life insurance today. Click here to apply now!
Sample $25k Insurance Needs example
Simplified Life Options
If any question below is answered “Yes”, you are not eligible for this plan of insurance.