No Medical Exam Guaranteed Issue Insurance

What is Guaranteed Issue Life Insurance?

Guaranteed issue life insurance is a form of life insurance that does not require medical exam records. As the name would suggest, the applicant is guaranteed some level of life insurance coverage; one cannot be denied guaranteed issue life insurance, with the exception of those who live in a hospital or long-term care facility.

Fast and Simple

As traditional life insurance requires medical exams and a medical history for the applicant, the insurance company has to underwrite the policy. With guaranteed issue life insurance there is no underwriting. All applicants, except those who live in a hospital or nursing home, will receive coverage so the company does not spend time deciding who receives coverage. A traditional underwritten life insurance application process takes 4-6 weeks. A guaranteed issue life insurance application process can be done in a matter of minutes.

Guaranteed but More Expensive

There are a number of benefits of guaranteed issue life insurance, but they do not come without a higher price. As the insurance company has less information about the applicant and the risks related to their health, they compensate by making the insured party pay much higher premiums. If you are considering pursuing a no medical exam life insurance policy to avoid the inconvenience of taking a medical exam, you should reconsider. Guaranteed issue insurance is a valuable option to seniors and those with a history of serious medical condition, not those who do not want to visit a doctor. However, if for some reason visiting a doctor or submitting to medical exams is impossible, guaranteed issue life insurance may be a good option for you.