Guaranteed Issue & Health Insurance

Guaranteed Issue life Insurance Some companies specialize in offering policies advertised as guaranteed issue life insurance. These companies will issue life insurance policies with no required physical exam. Typically, the companies do require the insurance applicant to answer questions, that may lead to denial of coverage. However, there are companies that will offer coverage with no exams and no questions. Generally, this type of policy will only cover funeral expenses. It is difficult to find any guaranteed issue policy that will provide coverage over $15,000 to $20,000. These policies also tend to have high premiums, which can end up exceeding the benefit amounts. The policies will usually have a graded benefits clause under which the benefits are limited in the event that the insured dies within two or three years of obtaining the policy. Graded benefits clauses are intended to prevent people from signing up for a policy when they are literally on their deathbed, and then having the full policy death benefit paid to their estates.