Tag Archives: Guaranteed Life Insurance
What is Guaranteed Issue Life Insurance?
Guaranteed Issue life insurance is a type of life insurance policy where acceptance is literally guaranteed. However, there may be restrictions for the first 24 months of the policy. For example: it may only pay for an accident for the first 24 months, after that the policy would pay for any cause of death. This might sound ideal, but it comes at a price, literally. This means if you are considering this type of policy, be absolutely sure that it’s truly your best option. An advisor may be able to save you substantially on your premiums with a more traditional form of life insurance, and get you better coverage in the process.