Guaranteed Life Insurance for Elderly

If you've been declined for life insurance coverage before because of health issues, then you should consider a guaranteed issue life insurance policy. This is a permanent whole life insurance policy which means the coverage will last for your lifetime and your premiums will always remain level.

Features of Guaranteed Elderly Life Insurance:

• No medical exam is required
• Permanent life insurance coverage
• Level premiums
• Builds cash value
• Graded benefits

Guaranteed Life Insurance vs. Standard Policy

The death benefit for a guaranteed issue policy is graded, which means that it won't be paid out in full until after the second or third year. If you pass away in year one, then your beneficiaries will typically get either what has been paid into the policy or a certain percentage of the death benefit. If you die in year two, the percentage paid out is higher. Usually after year two, the death benefit is fully payable. Because there is a higher risk to the carrier, the premiums on this type of policy is higher, but your can still get peace of mind in knowing that you have some coverage in place.

Compare Rates for Guaranteed Elderly Insurance

If you have some major health issues and you have been declined for a standard life insurance policy, then a guaranteed issue policy may be right for you. The first step is to compare rates from several carriers to see which one has the most affordable rate for your particular situation. Get a free quote for guaranteed life insurance to compare multiple rates from the nation's highest rated carriers.