2024 Guide on Guaranteed Acceptance Life Insurance – No Medical Questions

last updated on December 22, 2023

Written by Daniel Ray, Life Insurance Expert | ✅ Fact Checked by

Lisamarie Monaco | Editorial Disclosure

If you are in search of Guaranteed Acceptance Life Insurance, you came to the right place.

You’ve heard the old saying, “you can’t take it with you.” But what if there was a way to make sure that your money is always with you? It’s true – life insurance will let you leave your loved ones knowing that they’re taken care of.

Whether for their protection or just to help them out, guaranteed acceptance of life insurance is a perfect choice. With the guaranteed acceptance of life insurance, we’ll approve anyone over 50-years-old without any medical underwriting.

All you need to do is fill out a questionnaire and send us some information about yourself so we can calculate how much coverage would be best for your needs. We know our applicants better than anyone else because we work with them every day!

So call now and get a quote.

What Does Guaranteed Issue Life Insurance Mean
Guaranteed Life Insurance Plans
What Does Guaranteed Whole Life Insurance Mean?
What is Guaranteed Issue Term Life?
Best Guaranteed Issue Life Insurance Quotes
How Does Guaranteed Acceptance vary From Traditional Coverage
Conclusion

What Does Guaranteed Issue Life Insurance Mean

How does guaranteed acceptance insurance work? Let’s learn how!

Most people understand why life insurance coverage is so important. Above all, it’s the only way to make sure that your family does not inherit any debts you may have.

Furthermore, the only way that you can continue to financially support them is through the purchase of a policy. And sometimes a Guaranteed Acceptance Policy is all that is available. Those looking for insurance with pre-existing conditions may have a hard time finding the right carrier. Especially if its a serious health impairment.

In fact, some people that have significant health issues find it challenging securing a basic term life insurance policy. For instance, this is due to some health impairments. Such as uncontrolled blood pressure, diabetes, or un-managed high cholesterol. All in all, in most cases, it’s because of a serious health impairment such as cancer, HIV or severe CAD.

Life insurance companies could look at a consumer as too high of a risk, especially if uncontrolled. Luckily, guaranteed issue life insurance policies will offer coverage to anyone. There are a few drawbacks to guaranteed acceptance coverage (which we will expand on below). But it is indeed better than no coverage at all.

Who are the people that most commonly turn to guaranteed issue life insurance? Those that have medical conditions, smokers, as well as seniors over 50. Specifically, seniors over 75 years of age, these people are typically labeled as high risk by life insurance companies and primarily for burial expenses.

Guaranteed Life Insurance Plans

In general, the type of consumer that usually is buying a guaranteed issue is someone that has been turned down for either term life or traditional whole life policy.

Again, this takes place to do to a significant health condition that affects mortality. In some cases, someone that is terminally ill.

Guaranteed Acceptance Life Insurance Age 45

If you have significant health issues and are not able to get life insurance we are proud to say we can help.

We are to provide guaranteed coverage to age 40 as well. These are guaranteed issue life insurance policies. These will come with a graded period of 2 years.

But these are guaranteed life insurance no medical questions asked.

What Does Guaranteed Whole Life Insurance Mean?

This type of policy closely resembles the average burial coverage. However, you will be paying a higher premium. In addition, there is a graded period. This period usually lasts for two years and/or three years depending on the carrier.

So it’s important to be sure which carrier you want to go with. Especially if a severe illness is diagnosed.

Guaranteed Issue Whole Life Insurance Carriers

Here are our top 3 guaranteed issue whole life policies, United Home Life Guaranteed Issue, Gerber Life Guaranteed Issue and our favorite, AIG Guaranteed Issue.

Here are the three products side by side:

No health questions to answer
No medical tests
Guaranteed acceptance ages 50 to 85
Face amounts from $5,000 to $25,000 available

No Health Questions To Answer
No Medical Tests
Guaranteed acceptance ages 50 to 80
Face amounts from $5,000 to $25,000 available

No Health Questions To Answer
No Medical Tests
Guaranteed Acceptance Ages 45-75
Face amounts from $5,000 To $10,000 Available

These are guaranteed acceptance life insurance no waiting period policies. Furthermore, a full death benefit is paid after the graded period and without going through medical underwriting!

What is Guaranteed Issue Term Life?

When it comes to guaranteed issue term life, it really is considered the simplified issue.

At PinnacleQuote we offer one of the best hybrid policies for the term. These are a perfect policy for seniors looking for convenience.

One of the leading guaranteed life insurance carriers is Fidelity Life. They have one of the best guaranteed issue term life insurance. Their senior term graded benefit is more affordable than some of the best fully underwritten term policies.

Yes, in some cases more affordable than a policy that requires a medical exam or health screening. In most cases, processing takes 3-5 business days.

In fact, this type of policy not only will cover funeral and final expense costs but will also assist in paying those pesky medical bills left behind.

The high Face amount coverage
24-48 approval process

Fidelity Life has a RAPIDecision Express policy that is streamlined with no paper app. It is done right over the phone for instant approval. Just need to answer no to 9 questions.

Level death benefit term life insurance renewable up to age 95
Expiration on the policy anniversary following the insured’s 95th birthday
Choice of 10, 15, 20 or 30-year initial guaranteed level, premium term periods
Guaranteed annual renewable term (ART) rates after initial level term until the expiration date

Term	Issue Age	Minimum	Maximum
10-Year	18-65	$25,000	$250,000
15-Year	18-60	$25,000	$250,000
20-Year	18-55	$25,000	$250,000
30-Year	18-45	$25,000	$250,000

It’s important to understand what life insurance options are available.

Best Guaranteed Issue Life Insurance Quotes

Above all, due to having a health history preventing applicants from getting traditional coverage than at the very least finding the cheapest guaranteed issue life insurance is key.

Although, having between $5,000-$25,000 as options, that will cover either a burial or cremation with a little leftover.

Here are some guaranteed acceptance life insurance cost from our top GI carriers. We will use a 55 year old female looking for $10,000 in coverage.

Face Amount	Monthly	Annually
$10,000	$63.85	$765.60
$10,000	$65.95	$791.45
$10,000	$68.53	$787.80

How Does Guaranteed Acceptance vary From Traditional Coverage

Like all types of life insurance, guaranteed acceptance life insurance varies depending on the insurance company. It’s important to compare as many plans as possible before making your decision.

If you think you fall into the ‘high risk’ category, look here for some high-risk life insurance quotes. You can apply online for your life insurance.

However, we do recommend talking with an experienced independent life insurance agent. They will know the top-rated carriers, they are familiar with all health impairments too.

Life insurance is not a “one size fits all.” Everyone is different and a seasoned agent will know how to guide you properly. Not just guide you but save you money in the process.

In addition, speaking to an agent that shops to multiple carriers AT ONCE will save you a lot of money! Furthermore, offering you convenience and saving you time!

What Do I Have To Know About Guaranteed Issue Life Insurance

Guaranteed Issue – Just Apply. Covered Same Day!

Well, first off, approval is simple for a guaranteed issue life policy, just apply. That is to say, unlike other kinds of policies, there is no need to have a physical or answer any personal questions about things like your medical history.

In fact, there are two major reasons why you would want to get a guaranteed life insurance policy.

A burial insurance policy or a simple policy for burial or cremation can be achieved if you have major health issues.
Just wanting the simplicity or no hassle of getting a policy. Another benefit, the waiting period is not as long, usually 2-3 years before full payment.

If you die, the benefits will be paid to the beneficiary. There is no limited benefit after the “graded” period.

Because of this, premiums can be significantly more expensive. Most owners of guaranteed issue life policies are people that are high risk. Also, most cases the policy owner has been declined.

Although it is possible to get term life insurance that does not require a medical exam, it’s usually much more costly.

However, if your looking for coverage as a smoker, and also have a health impairment such as diabetes, guaranteed issue life insurance with no waiting period might be the only affordable route to go.

This will also in some cases be considered special risk life insurance.

Guaranteed Issue Life Insurance Companies, Beware Of These Carriers!

It’s hard to determine which guaranteed acceptance life insurance no medical questions policy to choose from. We have brushed over our favorites above that was based on price and graded periods.

Here are a few other carriers that will market to the final expense senior market.

AARP Guaranteed Issue Life insurance will provide up to $25,000 of permanent group life insurance. These are strictly for members. With competitive rates.
MassMutual, although a solid name and company, they are much more expensive than their competitors. They have misleading marketing and don’t offer accidental during the graded period.
MetLife Guaranteed Life Insurance is eligible for ages 45-75, and for amounts between $2,500-$50,000 in coverage. However, prices are not competitive than our favorites earlier in this article.
Colonial Penn although a good name for a brand, the prices are not competitive. In some cases more than 40% than the best rates. They also use celebrities like Alex Tribec to use false advertising by stating they offer Guaranteed issue policies as low as 9.95/month. This is FALSE.

How old do you have to be to get a Guaranteed Issue Policy?

Above all, being able to secure life insurance when you are sick or have a health history is very important to consumers loved ones. However, most carriers restrict age to a minimum. In most cases 45-50.

We do have one carrier that will offer a guaranteed issue life insurance at age 40. Their prices are very competitive between 40 and 50 compared to basic burial or final expense policies.

The carrier is Great Western. They have a policy that is called Guaranteed Assurance Final Expense.

Face Amounts $1,000-$40,000
110% Premiums paid for the first two years, Accidental from day 1
Level premiums for life
Spousal and Child riders

What are the Pros of Guaranteed Issue Life Insurance

As we’ve already been over, the biggest draw for people to guaranteed acceptance life insurance is that they will take anyone that applies.

Regardless of the extent of their health impairments, even terminal!! Also, these policies also cover accidental death immediately without and graded period.

So you will not have to wait 2-3 years of coverage otherwise known as the “graded” period.

Guaranteed acceptance term life insurance is also versatile — you can get either a term life policy or a permanent policy. This means you can choose exactly how long you want the coverage, for example, 20-year term life policy.

Furthermore, guaranteed acceptance life insurance is a much quicker and easier process than traditional types of life insurance.

In some cases, consumers that need life insurance after a DUI may only have the option of getting a guaranteed issue life insurance policy.

Is there similar death benefit with Guaranteed Acceptance Insurance?

Usually not, in general, the life insurance company is taking more of a risk with guaranteed issue insurance policies. Unlike with final expense life insurance for seniors or burial policy. This means that the death benefit will be much lower.

You can expect amounts from $5,000-$50,000. While you may find some companies that will pay out higher, the policy itself will likely be far more expensive. The consumers are most likely to get guaranteed life insurance for seniors.

How much Life Insurance should I purchase?

There are several things to factor in when you are considering how much life insurance you want to buy. We’ll list a few things you may want to be covered below:

Expected funeral costs
Children’s college tuition
Pay for your children until adulthood
Replacing your salary
House mortgage
Any other kinds of debt and final expenses

Do not skimp on the amount of life insurance you buy. If you don’t calculate it correctly, your loved ones will inherit your debt.

For instance, they won’t be provided for financially after you’ve passed. Speak to one of our agents if you need help figuring out what you would like to have covered.

Ask how much it will cost. Follow this general philosophy to find your own target coverage amount: financial obligations minus liquid assets. Calculate obligations:

Add your annual salaries (times the number of years that you want to replace income) + your mortgage balance + your other debts + future needs such as college and funeral costs.

Top 4 Guaranteed Issue Life Insurance Carriers

We recognize that there are more than 4 companies who offer guaranteed issue policies/insurance plans.

Our reasons we chose the top 4 guaranteed issue carriers as follows. They offer the most competitive rates and have an above-average graded benefit clause when compared to other companies.

Coverage amounts vary. Some carriers may offer higher amounts. You can ask your independent insurance agent and they will guide you to the best carrier that is the right fit based on your health questions, benefit amount and coverage.

AIG
Mutual of Omaha
Gerber Life Insurance
Fidelity Life

Should I Get a Guaranteed Acceptance Life Insurance Policy?

It depends. If you are not a high-risk individual, and you are in decent health, then it’s not advised. The policies will be more expensive. However, you may feel you have a serious medical condition, such as diabetes. This maybe your best option then.

Guaranteed issue life insurance is typically for people over the age of 50. Senior citizens who have roughly 10 years or less to live. Individuals with current or previous medical problems. It is oftentimes the last resort for individuals.

For individuals who can’t qualify for other types of life insurance policies. Because of their health issues and/or don’t have the option to purchase life insurance through their employer. You also may need life insurance ASAP, or may not want to take a medical exam. This would suit you for guaranteed issue life insurance policies. Just remember, you need to shop around to find the best rates. Here at

PinnacleQuote, we can help you with that. You do not need to call each company individually. We shop you the top companies for the best rates, you will have options within seconds.

What to Remember About Guaranteed Acceptance – Recap From Above

Remember, This isn’t for someone who is in perfect or decent health, who just doesn’t want to answer any health questions or take an exam. Keep in mind that the maximum death benefit is $25,000, and ALL guaranteed issue policies have graded benefit.

Graded benefit means that if you die in the first 2-3 years of the policy being issued (unless the death is a result of an accident), your beneficiaries will not get the death benefits you purchased. Only the premium paid and some interest.

If this is the route you choose to go, Allow our experience Agents at PinnacleQuote to shop you the best-guaranteed life insurance companies in the industry.

What Sets Us Apart From the Rest?

We work for you, not the Insurance companies. Death occurs daily. The unexpected Happens Daily! Our job is to make sure you are properly protected. We also make sure you are not OVERPAYING! And, YOUR FAMILY are taken care of financially and do not miss a beat in your absence. They are the most important people in your life.

Life insurance ensures that they will not take on the burden of your debt, medical bills, (or accidental death) mortgage, college, etc. Remember, Your paycheck dies with you. Life Insurance lasts forever. This is years and years of coverage for your family. That is the last way to say I LOVE YOU.

FAQs

What is Guaranteed Acceptance Life Insurance?

Guaranteed Acceptance Life Insurance is a type of life insurance policy that does not require medical exams or health questions. It guarantees acceptance regardless of health conditions.

Who typically purchases Guaranteed Acceptance Life Insurance?

This type of insurance is often purchased by seniors or individuals with pre-existing health conditions who may not qualify for traditional life insurance policies.

What are the benefits of Guaranteed Acceptance Life Insurance?

The main benefits include no medical exams or health questions, guaranteed approval, and providing financial support for beneficiaries to cover funeral expenses or debts.

Are there any age restrictions for this type of insurance?

Yes, these policies are typically available to individuals within certain age ranges, often between 50 and 85 years old.

How do the premiums for Guaranteed Acceptance Life Insurance compare to other policies?

Premiums are generally higher compared to standard life insurance policies because the insurer takes on more risk by not requiring medical information.

Is there a waiting period for Guaranteed Acceptance Life Insurance?

Many of these policies have a waiting period, often two years, during which the full death benefit is not payable if the insured dies of natural causes.

What is the typical coverage amount for these policies?

Coverage amounts are usually lower than traditional life insurance policies, often ranging from $2,000 to $25,000.

Can the death benefit be used for any purpose?

Yes, beneficiaries can generally use the death benefit for any purpose, though these policies are often intended to cover funeral expenses and final debts.

How long does the coverage last?

Coverage usually lasts for the lifetime of the policyholder, as long as premiums are paid.

Are there any drawbacks to Guaranteed Acceptance Life Insurance?

Drawbacks include higher premiums, lower coverage amounts, and potential waiting periods. Additionally, if the insured dies during the waiting period, beneficiaries may only receive a return of premiums paid plus interest.

Conclusion

Life insurance is a great way to protect your family and avoid putting them in the unfortunate position of having to deal with any debts you may have. But what if there was an easy, affordable life insurance company that offered one-of-a-kind guarantees?

Well, we’ve got just the thing for you! Our service offers guaranteed acceptance life insurance policies so no matter how much risk you pose due to various factors like your age or health conditions, it will be approved.