Guaranteed Issue Final Expense

Guaranteed issue final expense is a type of permanent life insurance policy. It’s very similar to simplified issue final expense, but there are a few differences. In fact, guaranteed issue is typically easier to qualify for than simplified issue.

Guaranteed Issue Final Expense Insurance Explained

You never have to worry about losing coverage with guaranteed issue final expense insurance. This is a permanent policy that will last for the rest of your life as long as you pay the monthly premium.

Your insurance provider agrees to provide a death benefit in exchange for monthly premium payments. Your premium is determined by a number of factors, including age and the size of your death benefit. For guaranteed issue, this can range anywhere from $2,000 to $25,000.

The insurance company will issue your death benefit when you, the policyholder, pass away. Because you won’t be around to receive it, you get to choose beneficiaries to receive and use it on your behalf. You can put it towards anything, including funeral costs, credit card payments, etc.

Who is Eligible?

The most notable feature of guaranteed issue final expense insurance is eligibility. It’s fair to say that virtually anyone can qualify for a policy, especially compared to other life insurance policies.

You can be up to 85 years old (and potentially older) and still qualify for a guaranteed issue policy. Not only that, but even preexisting conditions and other serious health concerns won’t disqualify you.

You are “guaranteed” coverage regardless of health. You won’t be asked any health-related questions to enroll, and your costs won’t change due to new health issues.

How it Compares and Who Needs it

Guaranteed issue final expense life insurance is the easiest life insurance policy to qualify for. Its death benefit is notably smaller than other options, but the coverage is still essential to keep your peace of mind regarding your end-of-life expenses.

Anyone with serious health concerns will greatly benefit from a guaranteed issue policy. Suppose you don’t have too serious of health concerns but are a bit older and can’t qualify for the standard life insurance policy. In that case, you may be interested in simplified issue final expense insurance. Otherwise, guaranteed issue is the perfect option.

You’re Our First Priority—Call Us Today To Get Started

We’ll help you understand your options and bring you the coverage you need, no strings attached. With the Memorial Insurance Group, you’re our priority. To learn more, contact us today.

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