For more information, see our full cost guide to determine how much life insurance may cost for you.
Guaranteed issue life insurance
Guaranteed issue life insurance takes the concept of simplified issue life insurance – forgoing the health exam – and takes it a step further in that you don’t have to answer any questions about your health, either. As long as you can pay the premium, the insurer will cover you, needing only your age, sex, and state of residence.
That makes it appealing for older people, whose declining health makes it prohibitively expensive to get coverage with another insurance types.
Guaranteed issue life insurance is useful for elderly applicants, but others can likely get more life insurance coverage at a lower cost with a different policy type.
Just like with simplified issue life insurance, the lack of insight into your health conditions that a medical exam and interview