Guaranteed Issue Life Insurance – No medical tests required
Guaranteed Issue Life insurance is one of the very few insurance policies that is made available to every body who wants one. The policies issued under this scheme do not require medical examination. This is one policy that will not be declined for health reasons. This makes it ideal for elderly and people with health issues to apply and get the policy issued in their names. Listed here are a few of the features that the Guaranteed Issue Life Insurance offers to the policy holders.
No medical test – As stated earlier, applicants do not need to undergo any medical tests to get their Guaranteed issue Life Insurance policies issued. These policies are not underwritten on the basis of medical history. If one is looking for a quick and hassle free policy, this is one of the best options that is available.
No medical questions – There are no medical related or health related questions that are asked. People with a history of illness and people undergoing medical treatment will not be denied a policy.
Guaranteed Issue – People from all walks of life are eligible to avail this policy. This is very beneficial for people who have been denied other policies for various reasons.
Competitive premiums – Since the Guaranteed Issue Life Insurance policies are not underwritten on a case to case basis and also since the issue is guaranteed, the policy premiums are on the higher side. But, it is a small price to pay considering the fact that all people are eligible for a fast and hassle free policy.
Face value – The face values are relatively smaller primarily due to the fact that the Guaranteed Issue Life insurance policies are issued at a greater risk for the company. Values ranging from a few thousands up to $50000 are available.
Graded benefits – Due to the easy nature of policy application and approval, Guaranteed Issue Life Insurance comes as a graded benefits offer. It means that the full death benefit will be granted after a specified period of time. If death occurs during this specified period of time, the policy provides a full refund of the premiums paid till then, plus interests. This feature protects the insurance company against fraudulence and misuse of the policy by applicants.
Free look period – All Guaranteed Issue Life Insurance policies come with a free look period of 10 days. If you are not satisfied with the policy after purchase, you can choose to opt out of it within 10 days at no cost.
loading...
loading...
Similar posts:
- The Lowdown on Life Insurance Medical Exams
- Term Life Insurance No Medical Exam-best Chance to Get it
- Six Life Insurance Questions and Answers
- Buying life insurance: A Shopping Checklist
- Term Life Insurance: Why It’s the Most Preferred Choice