Top 3 Guaranteed Issue Life Insurance Companies For Seniors

Yes, you can get a burial life insurance policy with no health questions asked and instant approval. Simply fill out a quote form or give us a call to get approved for one of these policies.

However, there are limited reasons to choose a guaranteed issue, no health questions asked policy. We usually do not recommend these policies because they come with a two-year waiting period. If you pass away during this period, the insurance company only pays out what you’ve paid in plus 10% interest.

But if you want instant approval without complicated health questions or interviews, or if you have a serious health condition like cancer, these policies are for you.

Table Of Contents

• What Is Guaranteed Acceptance?
• What Are They Good For?
• Who Can Qualify?
• When Should You Buy One?
• Health Issues That Make You Go Guaranteed Acceptance
• Best Companies
• How To Buy

What Is Guaranteed Acceptance Burial Life Insurance?

Guaranteed Acceptance policies ask no health questions, ensuring everyone gets a policy.

The catch? They come with a two-year waiting period. If you die within the first two years, they only pay out what you’ve paid in, plus an additional 10%. These are small whole life plans, typically up to $40,000.

What Are No Health Questions Asked Policies Good For?

Guaranteed issue life insurance is ideal for people who have been denied or expect to be denied life insurance from other companies due to high costs or health conditions. These companies don’t check medical or prescription history, so even serious conditions like cancer won’t prevent you from getting coverage.

The catch? These policies have a 2-year waiting period (sometimes 3 years) before they pay full benefits. Once this period is over, you’re fully covered for life.

Who Can Qualify?

While there are no health requirements, there are a few other criteria:

1. Age: Most carriers insure people aged 50-80, with some starting at age 40.
2. State: Availability varies by state, but we can find a carrier for you no matter where you are.
3. Consent: You must be able to enter into a contract. If you have dementia, you must have the mental capacity to sign. It’s still possible to get coverage!
4. Email: Most companies require an email address, but not all. We can find a company that doesn’t require it if you don’t have an email.

When Should You Buy A No Health Questions Policy?

Consider these policies in the following situations:

1. Personal Preference: If you want fast approval without health questions, call us or fill out the quote form.
2. Previous Declines: If you’ve been declined or offered higher rates elsewhere, you might only qualify for guaranteed issue coverage.
3. Cheapest Option: If traditional burial insurance is too expensive due to your health conditions, a no health questions policy might be the cheapest option.

Health Issues That Require Guaranteed Acceptance Life Insurance

Certain health conditions necessitate a guaranteed acceptance policy, such as:

• Current Cancer (not in remission)
• AIDS/HIV
• Kidney Dialysis
• Terminal Illness
• Alzheimer’s/Dementia
• In a Nursing Home
• On Oxygen 24/7
• Organ Transplant

When Should You Not Buy A No Health Questions Policy?

If you qualify for a plan with health questions and no waiting period, you should take it. Many times, agents haven’t done the necessary work to find you immediate coverage. If you have no serious medical issues beyond common ones like high blood pressure or cholesterol, you should find a policy with immediate coverage.

Best Guaranteed Issue Life Insurance Companies

Guaranteed issue policies are similar, with a two-year waiting period and no health questions. The main differences are state availability and rates. Here are some of the best companies:

1. AIG: In business since 1919, AIG has an A.M. Best rating of A. A reliable choice.
2. Gerber: Known for their child policies, Gerber also offers great rates for seniors. They have been in business since 1967 with an A.M. Best rating of A.
3. Great Western: Great for those without email, Great Western doesn’t require it. They’ve been in business since 1983 and have an A.M. Best rating of A.

How To Buy A Guaranteed Issue Policy?

The application process for a no health questions policy is fast and simple, and we can help you every step of the way. But remember, not all no health questions policies are the same cost. Some are sold by captive agents who don’t shop around for the best rate.

As an independent agency, Seniors Mutual finds you the lowest rate regardless of the carrier. Once you’ve decided on a no health questions policy, submit your application as soon as possible to start the waiting period.

Fill out our quote form or give us a call today to begin!