Guaranteed Acceptance Life Insurance for Seniors

Although you might see constant advertisements for guaranteed¬†acceptance life insurance for seniors, it can be disheartening to know that you are in need of coverage but will get denied by the companies that you see online or on television. It is true that elderly individuals or those with significant health issues have a more difficult time finding coverage, but this doesn’t mean that you should give up on your search.

Life insurance is an essential that no adult should do without. You don’t want to leave behind a host of expenses for your family to take care of, so it is important to start shopping for coverage right away, regardless of your situation.

What is Guaranteed Issue Life Insurance for Seniors?

Many companies have strict requirements when it comes to offering life insurance to elderly customers or those with health-related problems. If an insurance company sees an applicant as a major risk, it might not offer coverage at all. This is when a company that offers guaranteed issue life insurance for seniors comes into play.

Guaranteed life insurance is designed to ensure that everyone can get the coverage that they need. You can’t be denied coverage because of your health, so you don’t have to worry about being turned down, even if you have been turned down repeatedly by other companies. Of course, guaranteed life insurance is a bit more costly than many other plans, but it does provide essential coverage for those who need it the most.

Do You Need a Guaranteed Acceptance Life Insurance Policy?

Are you considered a high risk applicant by most life insurance policies? If you have a lot of health issues or are dealing with a serious medical condition, chances are good that many companies will see you this way. Although it doesn’t hurt to apply, you might want to start looking for a guaranteed acceptance life insurance policy if you want to move quickly and avoid a rejection.

If you have been turned down by other life insurance providers, this might be your only option. Although you might think that you will never be accepted for coverage, we can help you find the policy that is right for you.

Even if you have simply been looking for life insurance for seniors with no medical exam, you might find that you need a guaranteed issuance policy if your health is poor. Although trying for other policies might be a good idea, you can rest assured in knowing that a guaranteed life insurance policy is available if you find that you aren’t eligible.

What You Should Know When Shopping for Your Policy

  • You can expect to spend a little more on a guaranteed life insurance policy, but it is worth it to ensure that you have necessary coverage. Choosing a lower face value can help you get a lower rate if you’re afraid that you can’t fit a policy into your budget.
  • Unfortunately, some of these plans involve a two-year waiting period. Luckily, some companies offer a graded death benefit policy, which offers a portion of your coverage during the first couple of years. For example, this type of policy might offer a 25 percent payout during the first year, a 75 percent payout during the second year and a full payout any year after that. Although these policies can be a bit more expensive, they are solid options for those who want coverage right away, and they can help ensure that you and your family are fully protected starting from the day that you purchase your policy.
  • For many applicants between the ages of 50 and 80, face amounts between $5,000 and $15,000 are available. This money will be paid to your beneficiary after your death, and your family member or other loved one can then use the fund to handle all of your necessary funeral-related expenses and other final costs.

How to Find Your Policy Right Away

At United Life Group, we help customers find the life insurance policies that suit their needs. Whether you’re looking for life insurance for seniors with no medical exam, a guaranteed life insurance policy or any other type of coverage, we can help. We work with some of the top-rated life insurance companies in the country, and you can quickly and easily get quotes for your situation by entering your ZIP code in the field near the top of the page, we even offer life insurance for seniors over the age of 80.

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