What is Guaranteed Life Insurance?

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What is Guaranteed Life Insurance?

For some people, one of the greatest obstacles to obtaining life insurance is the medical evidence needed prior to the issue of a policy. Traditional life insurance policies require the applicant to complete medical questionnaires, and could also require physician reports, paramedical exams, blood and urine tests.  With this information, the life insurance company determines whether or not they will offer the applicant coverage and if so determine the appropriate premium. Guaranteed issue life insurance does not require medical exam let’s explore the pros and cons of this type of product. 


  • Only a few questions to be answered to qualify
  • No medical exam required, no blood or urine samples
  • Immediately issued
  • Can be a term or permanent coverage


  • The life insurance company can offer graded benefits: Meaning if the person dies within a specified period of time the beneficiaries will see a portion of the death benefit or portion of their premiums will be returned.
  • The premium cost is higher versus traditional life insurance. 

Guaranteed life insurance is typically a last resort life insurance policy because you can’t obtain life insurance through the normal underwriting process. If you have prior health issues but you are unsure if you could qualify for traditional life insurance speak to an advisor. Based on your medical history they will let you know if guaranteed issued life insurance is the right choice for you. Coverage amounts can range up to $500,000 in certain circumstances.  It is a good idea to speak to a professional adviser to get advice and answer your questions to make sure you understand the terms of the policy before you sign.

Talk to your financial advisor. Get in touch.

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