What Is Guaranteed Issue Life Insurance?
Coverage that can’t be turned down because of your health.
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Quick Answer
Guaranteed issue life insurance is a type of whole life policy that approves applicants based only on age — there are no health questions and no medical exam, so you generally cannot be declined for a pre-existing condition.
For more detail, see our explanation of simplified issue life insurance.
Guaranteed issue whole life insurance policies are generally available to individuals between the ages of 45 and 85 (exact age ranges vary by policy and carrier). Because the insurer takes on more risk by not asking about your health, guaranteed issue premiums are typically higher than simplified issue premiums for the same coverage amount, and coverage amounts tend to be smaller — often capped between $5,000 and $25,000.
Most guaranteed issue policies include a graded death benefit for an initial period (commonly the first two years). If the policyholder passes away from natural causes during that window, the beneficiary typically receives a return of premiums paid plus interest rather than the full face value; after the graded period, the full benefit applies. Death from an accident is usually covered in full from day one.
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