Guaranteed issue life insurance Is available to anyone
ByGuaranteed issue life insurance Read this and quickly learn how you can get coverage quickly and provide your family with protection.
This type of life insurance used to be marketed to elderly people with serious medical conditions and guaranteed that they could have life insurance with no medical examination and few or no medical questions.
However, there are limitations to these policies that are sold without any medical underwriting and most of these policies have a small face value generally less than $20,000.
Most of these policies are designed for a specific purpose, which is to pay for funeral expenses.
Because these guaranteed policies do not rely on medical information to set the premium cost tends to be very high in almost all cases.
These high premiums combined with a low face amount of death benefit make this type of life insurance a less desirable option for healthy people.
Make sure do the math because if you live for 5, 10 or 15 years you’re going to pay more in premiums than the face value of the policy upon your death.
Jimmy says this type of life insurance should only be bought as a last resort and should only be used as burial insurance.
Whoa Jimmy?
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Guarantee issue life insurance is a last resort if you have any suggestions or ideas in this area please share with our readers in the comments.
