Guaranteed Life Insurance

Guaranteed life insurance (or guaranteed issue life insurance) is a life insurance policy that is literally guaranteed to be issued regardless of your health.  Sounds good right?? Sort of…but it comes at a price. If you’re considering guaranteed issue insurance, then be absolutely sure that it’s your only option.  An independent insurance advisor might be able to help you save substantially on your premiums with a more traditional form of life insurance, and get better coverage in the process.

Who’s it for?

Some of us have had health concerns that prevent us from getting insurance at a decent price.  Our medical history is an indication of our future according to insurance companies and they are obviously concerned about accepting a risk unless there’s some profit in it for them.

For people who find themselves in this category, but still want the protection offered from life insurance – guaranteed issue life insurance may be the only option.  When the premium is paid you get the coverage without having to undergo a medical exam or even a questionnaire.

The Catch

So what are the downsides?

Firstly, the premium may be significantly higher than other life insurance policies.

Secondly, depending on the insurance company it may take a while before the death benefit coverage kicks in.  This means that if you die during the first few months or years of the policy, then the insurance company may not pay the claim and only pay back the premiums that you have spent.

If you need insurance and are worried that you may be declined, then speak with us first.  We have much experience in dealing with underwriters and will be able to guide you towards the best insurance solution for your unique situation.

Get some help without the hassle at 1-877-755-9293 (you can also connect with us HERE)

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