Does the thought of getting a medical exam to qualify for life Insurance make you anxious? You’re not alone. For some people, the life insurance application process and medical exams can be stressful. The anxiety of having their blood drawn and going through a paramedical examination may be enough to keep them from getting the coverage they need.
As the name implies, there are life insurance policies that are guaranteed to be issued. That means regardless of your health, you cannot be declined or turned down. However, guaranteed issue life insurance generally offers low death benefit options with higher than normal premiums.
The three main benefits of guaranteed issue life insurance are that there is no required medical examination, no medical questions to answer, and you don’t have to be in perfect health. However, because you do not have to qualify, premiums are typically higher than what a healthy person would pay for the same amount of coverage under a policy that went through medical underwriting.