Guaranteed issue whole life insurance
If you're between 65-85 years old, you're guaranteed to be approved. No health questions or medical exams necessary.
Features and benefits of this coverage
Here's whats included with whole life policies:
Guaranteed approval
If you're between the ages of 65 and 85, you're guaranteed to be approved, regardless of any health issues. It's that simple.
Affordable lifelong protection
As long as you keep up with your premiums, this coverage will last your whole life. Premiums are level, meaning they won't go up over the life of your policy. The quote you get today is the same as your final rate..
Cash value
This policy builds cash value automatically. You can use this cash value for emergencies or to supplement retirement income by taking a tax-free policy loan against the cash value. Note that outstanding policy loans will decrease the amount of the death benefit paid to your beneficiaries.
Additional features and benefits
This policy comes with a graded death benefit, which means that if you suffer a non-accidental death within the first two years of coverage, your beneficiaries will get 100% of the premiums you paid, plus 30%. If death occurs after two years, then the total amount of your coverage is paid, minus any outstanding policy loans, regardless of the cause of death.
FAQs
Guaranteed issue whole life insurance is a type of policy that guarantees approval regardless of your health status, as long as you are within the specified age range. It provides lifelong coverage with no medical exams required.
Who is eligible for guaranteed issue whole life insurance?Typically, individuals between the ages of 65 and 85 are eligible for guaranteed issue whole life insurance. Eligibility criteria can vary by insurance provider, so it's essential to check specific details.
A graded death benefit means that if you pass away from non-accidental causes within the first two years of the policy, your beneficiaries will receive a return of premiums paid plus an additional percentage. After two years, the full death benefit is payable regardless of the cause of death.
How does the cash value benefit work?This policy builds cash value over time, which you can access through policy loans or withdrawal. However, any outstanding loans will reduce the death benefit payable to your beneficiaries.