Guaranteed-issued life insurance is a type of whole life insurance policy that does not require health qualification, Guaranteed-issued life insurance always has a waiting period. If the insurer dies during the waiting period, the insurer beneficiary will not receive the policy's death benefits. It does not pay death benefits during the first two or three years the policy is in force, but it does return the policy's premium plus 10% interest if the insured die during this period. Guaranteed issue life insurance provides coverage only for sick people who otherwise couldn’t get it. Guaranteed insurance belongs to a category of policies call final expense life insurance.

How Guaranteed Issued Life Insurance Work

• A basic application is required –no medical exam or health questions.
• Guaranteed life insurance is the most accommodating form of life insurance. All applicants will be approved.
• Pay monthly or annual premiums to keep the policy in force, and it will stay active until the end of your life as long as you keep paying the premiums.
• Some guaranteed life insurance requires holding the policy for at least two years before it will pay the benefit. If should you pass away before then, your beneficiaries simply get refunded the amount you have paid into the policy so far

Which Conditions Will Disqualify You From Any Other Type of Health Insurance?

• You have a terminal illness with a life expectancy of fewer than two years.
• You have had or need an organ or a tissue transplant.
• You are on dialysis.
• You have Alzheimer’s or dementia
• You are in a nursing home or in hospice.
• You have cancer.
• You have AIDS or HIV.
• You are in a wheelchair because of a chronic illness or disease.

Alternative to Guaranteed Issue Life Insurance

Life insurance premium always depends on age, height, weight, health, gender, death benefit, and policy type. The insurance company does not have different underwriting guidelines for different types of insurance. Many applicants with health issues believe they could never qualify for a policy that requires medical underwriting, but that often isn’t the case. It depends on the health condition and the issuer. People can get life insurance with underwriting even if they have congestive heart failure, have a heart attack in the last 12 months, or have a stroke in the last 12 months among other health conditions.