Guaranteed acceptance life insurance, also known as uninsurable life insurance or guaranteed issue life insurance, is a type of permanent insurance policy that requires no medical exam or health questions before offering coverage.

As the name implies, you are guaranteed acceptance, regardless of your health status or age, provided you are within the policy's age limit, usually between 45 and 85 years old.

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How Does It Work?

The premise behind this type of life insurance lies in filling in the coverage gaps for those deemed "Uninsurable".

It works on a simple principle - you apply, you pay your premiums, and the insurance company guarantees a death benefit lump sum payout to your beneficiaries when the inevitable happens.

Best Guaranteed Acceptance Companies

Comparing the best guaranteed issue companies is easy and straightforward. Our review of carriers listed below will help you compare features and select the right insurer.

You indeed want a company that not only offers the best rates but is also financially stable to ensure it can pay out the death benefit when needed.

Leading life insurance providers like Mutual of Omaha, Metlife and Colonial Penn are among the top names offering guaranteed acceptance policies.

Top Guaranteed Issue Life Insurance Companies

Mutual of Omaha

Up to $25,000 of coverage
No physical exam and no health questions asked
Guaranteed Acceptance ages 45-85 (50-75 in NY)
30 day money-back guarantee.
Two year limited benefit period

Met Life

Rates as low as $10 per month.
Guaranteed Issue for ages 45-75.
Up to $20,000 of coverage available.
No medical examination required.
Two year limited benefit period.

Colonial Penn

Exclusively for ages 50 - 85 (most states)
You cannot be turned down because of your health
There are no health questions asked and no physicals to take
Two year limited benefit period

Is a Medical Examination Required?

One may ask, "Is a medical exam required?" The answer is a direct and unequivocal "No".

A guaranteed issue life policy does not require any medical exams or health inquiries.

The application process is hassle-free, and coverage is often instantaneous upon the payment of the first premium.

How Much Coverage Can I Buy?

So, how much insurance can you buy? The amount largely depends on the insurer, but most policies offer coverage ranging from $2,000 to $25,000.

However, if you need more coverage you may purchase a guaranteed policy from more than one life insurance carrier.

Before deciding, it's essential to consider your final expenses, outstanding debts, and any financial burdens you may leave behind for your loved ones.

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What Makes You Uninsurable?

Common Reasons for Being Turned Down for Coverage:

Being turned down for life insurance can be quite disappointing and discouraging.

Top Reasons for Rejection Typically Include:

Serious Health Conditions like Cancer or Heart Disease
Old Age
High-Risk Occupations
Dangerous Hobbies such as Skydiving
History of Drug and/or Alcohol Abuse
Criminal Record
Poor Driving Record

Limitations of Guaranteed Issue Policies

Despite guaranteed acceptance policies' merits, they are not without limitations.

First, the death benefit during the first two years, known as the "Graded Benefits" period, is limited. This means if you pass away within 2 years of being insured, your beneficiary will receive the premiums paid plus interest. However, should you pass more than 2 years after starting your coverage, the full death benefit is paid out to your beneficiaries.

Keep in Mind: Accidental Death is covered from the first day you are insured, so if your passing is due to an accident, even if it occurs within the first two years of being covered, your beneficiary receives the full death benefit.

Secondly, these policies often carry higher premiums compared to those requiring medical exams.

Finally, the coverage amounts are relatively low, usually offering $25,000 of coverage, or less.

Benefits of Guaranteed Acceptance Plans

However, there are tangible benefits of choosing a guaranteed acceptance policy.

Primarily, it provides individuals deemed uninsurable with the opportunity for coverage - a deserving sigh of relief.

It's an excellent outlet for seniors or those with severe health conditions struggling to secure other forms of life insurance.

Moreover, it operates on a simple and quick application process.

Coverage is guaranteed if you meet the age requirement – no hassles and no delays.

Reasons to Buy Guaranteed Life insurance

There are numerous reasons to buy guaranteed life insurance, particularly if you fall into the "Uninsurable" category.

This Can Encompass Wanting To:

Secure Final Expenses
Leave a Monetary Legacy
Provide for Dependent Loved Ones
Seek the Peace of Mind that comes with life insurance coverage

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How to Apply for a Guaranteed Policy

Applying for coverage is usually a straightforward task.

Begin by finding life insurance for uninsurable individuals from a reputable company.
Then, select a coverage amount that can offset any financial hurdles your loved ones may face after your death.
Next, fill out the application form providing necessary details. Remember, no medical exams or health-related questions will be asked.
Lastly, pay your first premium, and you have your life insurance policy.

Guaranteed acceptance plans offer you a quick and easy way to get the peace of mind you desire by getting insured without the delays or hassles of traditional life insurance policies.

Is Guaranteed Life Insurance Right for You?

Deciding If Guaranteed Life Insurance if Right for You

Why is guaranteed acceptance life insurance right for uninsurable individuals?

This life insurance type is designed to accommodate individuals deemed "high risk" by traditional life insurance companies.

It ensures that individuals are not left without any life insurance protection, providing the financial security they need to cover any final expenses, outstanding debts, or serve as a legacy for their loved ones.

Securing your loved ones' futures must never be undermined. Requesting a free quote for coverage is the definitive first step. Despite feeling uneasy about being considered “Uninsurable”, remember that there is hope – and it lies in life insurance with guaranteed acceptance.

Guaranteed Life Insurance Quotes

Top Pick – Mutual of Omaha

Mutual of Omaha offers guaranteed acceptance whole life insurance for people ages 45 to 85. Choose $2,000 up to $25,000 of coverage. Rates start as low as $8.84 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply online now. Start Here to get a FREE Quote.