What is the best guaranteed issue life insurance?

Guaranteed issue life insurance is a type of life insurance where approval is guaranteed. There is no medical exam involved. While extremely convenient, the cost deters most people from getting such a policy.


what is the best guaranteed issue life insurance

Guaranteed issue life insurance definition

guaranteed issue life insurance definitionThe is how Investopedia defines guaranteed issue life insurance, or guaranteed acceptance life insurance, is a whole life insurance policy that does not require you to answer health questions, undergo a medical exam, or allow an insurance company to review your medical and prescription records. You may also see it as “no questions life insurance” or “no questions final expense insurance.” 

Sounds great, right? Here’s the catch. Guaranteed issue life insurance always has a waiting period. If you die during the waiting period, your beneficiaries will not receive the policy’s death benefit. With most policies, the waiting period is two years. With some, it’s three.

This is not some scam. If you die during the waiting period, the insurance company will repay (to your beneficiaries) all your insurance premiums plus interest, usually at 10%.

Your beneficiaries will still get something; it will be less than you’d like. Insurance companies put this waiting period in place because, if they didn’t, everyone could apply for insurance on their deathbed and pay a few hundred dollars to secure a $25,000 benefit for their family. No insurance company could stay in business this way. Guaranteed issue life insurance provides coverage to sick people who otherwise couldn’t get it.


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best guaranteed issue life insurance carriers

What is the best guaranteed issue life insurance carriers

AIG is one of our favorite insurers that offers the best guaranteed issue life insurance on the market because its prices are competitive. Policyholders may accelerate death benefits if they become ill, and the underwriting department is wonderful. However, any of the 3 companies below have reasonable quotes and a good range of coverage options for their guaranteed issue policies.



Gerber Life Insurance

Mutual of Omaha

Age availability50-8550-8045-85
Waiting period2 years2 years2 years
Payout during waiting periodPremiums paid + 10% interestPremiums paid + 10% interestPremiums paid + 20% interest
Minimum coverage$5,000$5,000$2,000
Maximum coverage$25,000$25,000$25,000

Guaranteed issue amount life insurance

guaranteed issue amount life insuranceFor certain people, guaranteed issue life insurance solves specific problems. Suppose you’re not one of those people.

It also is often referred to as guaranteed acceptance of life insurance.

The main idea behind guaranteed issue life insurance is that you won’t be turned down for it. It’s also very convenient compared to most other types of life insurance: It’s a simple application that has just a few or sometimes doesn’t ask any medical questions at all.

So what’s not to like or the catch? High costs, low coverage amounts, and “graded death benefits.”

For certain people who need life insurance but don’t have any other options because of health or other reasons, guaranteed issue life insurance will help provide life insurance for certain people who need insurance but don’t have any other options. Maybe they want to provide money to pay for a funeral or final expenses. Or perhaps they want to provide for children or grandchildren’s college funds. This type of life insurance can help people who:

  • Have medical conditions that would make it impossible or unaffordable to buy other types of life insurance, such as whole life insurance
  • Have limited budgets for life insurance
  • Are you OK with only having a small amount of life coverage, such as $25,000 or less

If you feel that’s not you, there are better options. Policies like universal life insurance can provide higher coverage amounts. These other life insurance options may require a medical exam but can ultimately provide better pricing. And there are ever-changing options for no-exam life insurance, especially for term life insurance buyer.

Best guaranteed life insurance for seniors

Seniors’ best-guaranteed issue of life insurance will depend on individual needs and circumstances. Some top options include AARP Guaranteed Acceptance Life Insurance, Colonial Penn Guaranteed Issue Life Insurance, and Gerber Life Guaranteed Life Insurance. It’s important to compare rates and coverage options before making a decision.

Guaranteed acceptance life insurance no health questions

Guaranteed acceptance life insurance policies are designed for those who may have difficulty getting traditional life insurance due to health issues. These policies typically do not require health questions or medical exams, making them an easy and convenient option for those needing coverage. However, they may come with higher premiums and lower coverage than traditional life insurance policies.

Guaranteed acceptance life insurance no waiting period

Guaranteed acceptance life insurance policies with no waiting period are available, but they typically have higher premiums than policies with a waiting period. These policies are designed for individuals with difficulty obtaining traditional life insurance due to health issues or other factors. It’s important to carefully review the terms and conditions of any policy before purchasing to ensure it meets your needs.

Guaranteed issue life insurance $100k

guaranteed issue life insurance $100kThere are parameters for our guaranteed issue life insurance program up to $100,000.

First, all the policies contain a 2-year waiting period. Generally speaking, if you were to pass away by illness or natural causes in the first 2 years, your beneficiaries receive the premiums you paid + interest. (Note: carriers may have specific terms and provisions with their waiting period.)

After 2 years, the policy pays the death benefit in full.

If you were to pass within 2 years by accident (i.e., accidental death), the policy pays 100%. (Except for one carrier that does pay about 80% to 90%.)

So, the 2-year waiting period is simply on illnesses and natural causes.

I think you will agree with me that that makes sense, right? The carrier does not underwrite, so it does not know the applicants’ health status. The 2-year waiting period protects them and avoids what allegedly happened to the carrier through the limited partnership.

Second, these policies are usually whole life insurance policies. Whole life is designed to last you a lifetime, offers cash value and has fixed premiums.

The carriers also limit the death benefit to $25,000. However, one carrier goes up to $50,000 at guaranteed issue (almost a couple of questions to answer, but most people qualify).

So, yes, that means you have to enroll in 3 to 4 different carriers to obtain the $100,000 of guaranteed issue life insurance.

It’s not perfect, but it is available.

Availability Depends On Where You Live

Additionally, carrier availability depends on the state where you live. In other words, not all carriers are available in all states. For example, New York residents only have $25,000 available, not $100,000. Moreover, you currently have to be over the age of 50. However, we work with one carrier that offers a guaranteed issue program every few years.

If you have an incapacitated individual like someone with Down Syndrome or autism, you can only purchase up to $25,000. Contact us to discuss more.

Compare and buy life insurance

Guaranteed issue whole life insurance quotes

guaranteed issue whole life insurance quotesLooking to get some guaranteed issue whole life insurance quotes, sometimes referred to as Guaranteed Acceptance Whole Life Insurance, from American General Life Insurance Company, is a simple and affordable final expense life insurance policy specifically for seniors.

This product does not require a medical exam or health questions to qualify. Instead, eligible seniors ages 50-80 can secure a policy to help cover expenses like medical bills, credit card debt, or funeral and burial costs that can help protect your loved ones from future financial burdens.

To apply and purchase a guaranteed issue whole life policy online, visit our Do-it-Yourself platform now.

Life insurance rates

To get the best life insurance rates, shopping around and comparing quotes from multiple insurance companies is important. Factors affecting your rates include age, health, occupation, and lifestyle habits. You can also save money by choosing a term life insurance policy instead of a whole-life policy.

Life insurance companies

There are many life insurance companies, but some top ones include Assurity, Foresters, North American, Sagicor, and Prudential. It’s important to research and compares policies and rates from multiple companies before deciding.

Frequently Asked Questions

Is there life insurance that you can't be denied?

Yes, there is a type of life insurance called guaranteed issue life insurance that you cannot be denied, regardless of your health or medical history. However, these policies often have lower coverage amounts and higher premiums than traditional life insurance policies.

Which type of life insurance provides the best-guaranteed payout?

Whole life insurance provides the best-guaranteed payout, offering the beneficiary a fixed premium and a guaranteed death benefit payout. However, it is also the most expensive type of life insurance. Term life insurance provides coverage for a specific period and does not offer a guaranteed payout but is more affordable.

What is the major problem with guaranteed issue?

The major problem with guaranteed issue life insurance is that it tends to be more expensive than traditional life insurance policies. The insurance company is taking on more risk by not requiring a medical exam or health questionnaire. Additionally, the coverage limits are often lower than other life insurance policies.

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About Coach B.

After starting his financial career with Phoenix Home Life Insurance Company back in 1992, Scott decided he wanted to provide people with an easier and more enjoyable way to buy life insurance. That was the start of Coach B. Life Insurance, whose mission is to be transparent, honest, and helpful to customers — without ever bugging or pushing them.

In the years since then, he has worked tirelessly to improve the process of shopping for insurance. His goal is to make sure that everyone who comes to Coach B. — whether they end up buying a policy or not — has the best possible experience.

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