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If you’ve had problems qualifying for life insurance, guaranteed issue life insurance may be what you need. Here’s how to find the best insurance policy with the best rate.
What is Guaranteed Issue Life Insurance?
Most life insurance policies require you to take a medical exam. If you have a serious medical condition, you may be turned down for coverage with these policies. But with guaranteed issue life insurance no medical exam is required. At the most, you’ll have to answer some health-related questions, although some policies don’t even require that.
The catch to a guaranteed issue life insurance policy is that it provides a graded benefit. The beneficiary receives the full death benefit amount of the policy only after a specified length of time from the issue date of the policy, usually two or three years. If the insured dies before the end of this time, the beneficiary only receives the premiums paid plus interest.
Finding a Guaranteed Issue Life Insurance Policy
Begin your search for the best rates on a guaranteed issue life insurance policy by visiting an insurance comparison website. Such a website offers you many advantages:
* It’s easy – you only need to fill out your insurance information one time.
* It’s fast – you get fast quotes for your guaranteed issue life insurance policy.
* It’s reliable – the quotes you receive are from A-rated insurance companies.
In addition, these websites make it easy for you to compare rates from several companies so you can choose the cheapest rate and the policy that’s best for you. The best insurance comparison websites even offer a chat feature staffed by insurance professionals. You can ask these professionals all your questions about guaranteed issue life insurance and be assured that you’ll receive accurate and helpful answers.
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