Guaranteed Issue Life Insurance in Oregon (Ages 18-85) – No Exams, No Health Questions

Navigating life insurance options can be overwhelming, especially if you've faced setbacks due to health conditions.

If you're in Oregon and seeking a policy without the hassle of a medical exam, consider guaranteed issue life insurance.

This particular type is tailored for individuals like you—seniors with health conditions looking for straightforward coverage.

Oregon Guaranteed Issue Life Insurance

Quick Review

Guaranteed Issue Life Insurance in Oregon is a type of life insurance policy that is available without the need for a medical exam or health questions, making it accessible to individuals who may have difficulty obtaining traditional life insurance due to health issues.

This type of policy typically offers lower coverage amounts and higher premiums compared to standard life insurance, and it is often used to cover final expenses.

It is particularly appealing to seniors or those with pre-existing health conditions who want to ensure that their end-of-life expenses are covered without the risk of being denied coverage.

Benefits of Guaranteed Issue Life Insurance

Guaranteed issue life insurance is gaining popularity as it offers a seamless process for obtaining coverage.

The beauty of it lies in its simplicity: no medical exams, no endless paperwork. Simply apply and get your peace of mind. L

et’s walk through what this means for you if you reside in Oregon.

Here's a quick snapshot of the benefits:

• No medical exams required.
• Guaranteed acceptance for ages 18 to 85.
• Coverage for end-of-life expenses.
• Quick approval process.
• Useful for individuals with critical illnesses.

Limitations of Guaranteed Issue Life Insurance

On the flip side, these policies come with some limitations:

• Typically higher premiums compared to traditional policies.
• Lower coverage limits (often maxing at $25,000 to $75,000).
• Graded benefits, meaning full death benefits after two to three years.

Eligibility Requirements for Guaranteed Approval

To qualify, though, some eligibility requirements must be met:

• Must be between 50 and 85 years old.
• Residency in Oregon (U.S. citizen).
• Ability to pay premiums.

Top Guaranteed Issue Life Insurance Companies in Oregon

Now, when it comes to picking the right plan, comparing your options is crucial. Let’s consider two major players in Oregon: Allstate Benefits and Mutual of Omaha.

• Allstate Benefits Insurance Company offers coverage for those as young as 18 up to age 70, with a maximum of $75,000 and no waiting period. This flexibility extends to covering spouses and children.  Get a FREE Quote.
• Mutual of Omaha caters to those aged 45-85, offering up to $25,000 coverage with the convenience of a 30-day free look period, ensuring satisfaction. Get a FREE Quote.

Each company offers competitive rates, but factors like coverage amount, age, and specific terms like waiting periods can influence your decision.

Features of Allstate Benefits vs. Mutual of Omaha

Let's break down the features of Allstate Benefits vs. Mutual of Omaha for guaranteed acceptance coverage.

Allstate Benefits Insurance Company

• Guaranteed Acceptance: Ages 18-70
• Coverage Amount: $10,000 up $75,000
• Available in every state and DC (except NY)
• No Medical Exam Required
• No Health Questions Asked
• No Waiting Period
• No 2 Year Graded Death Benefit
• Policy builds cash value, loan available
• Lifetime protection
• Premiums never increases, coverage never decreases

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NOTE: To qualify, applicants must be working at least 20 hours per week and not collecting any form of disability income or SSDI.

The policy goes In Force on the first day of the month after it's purchased. For example, if the policy was purchased during the month of January, it would be active February 1st.

Mutual of Omaha

• Guaranteed Acceptance: Ages 45-85 (50-75 in NY)
• Coverage Amount: $2,000 up to $25,000
• Two year waiting period limited death benefit
• No physical exam
• No health questions asked
• 30 day money-back guarantee
• Policy builds cash value, loan available
• Lifetime protection
• Premiums never increase, coverage never decreases

Start Your FREE Quote

Common Reasons to Buy Guaranteed Coverage

Your next step could be making that purchase decision. But why buy a guaranteed issue life insurance policy? Here are common reasons:

• Peace of mind knowing final expenses are covered.
• Avoid burdening family members with burial costs.
• Provides a simplistic approach for those denied traditional insurance.

Real-Life Examples of Guaranteed Issue Coverage

1. Take, for example, Mary, who got her policy after being denied traditional life insurance due to her diabetic condition.
2. Or Tom, who secured a policy quickly to ensure his final expenses were sorted amidst his fight with heart disease.
3. Lastly, consider Linda, who, although somewhat healthy, chose guaranteed life insurance for an easy, no-hassle experience.

Cost of Guaranteed Acceptance Life Insurance

When considering cost, it's essential to see how it fits into your financial plan.

For a non-smoking individual seeking $10,000 in coverage, Allstate Benefits might offer lower premiums compared to Mutual of Omaha, but it depends on your specific age and gender.

Keep in mind several factors can affect your premium rates for guaranteed issue policies. These include age, gender, and the specific coverage amount.

Interestingly, females often see slightly lower premiums than males in the same age bracket due to statistical life expectancy differences.

Cost is always a vital factor in determining the right life insurance policy. Sample premiums can give an idea of associated costs.

However, remember rates can vary based on individual circumstances and should be confirmed directly with the providers.

Sample Premiums

Here's a comparison of monthly premiums for $10,000 coverage for non-smokers age 50:

Allstate Benefits:

• Male: Approximately $28.18/month for $10,000 coverage.
• Female: Around $28.18/month for $10,000 coverage.
• Get a FREE Quote

Mutual of Omaha:

• Male: Close to $40.20/month for $10,000 coverage.
• Female: About $30.40/month for $10,000 coverage.
• Get a FREE Quote

These rates are based on various factors including age, gender, and smoking status. It's a good idea to check for personalized quotes to get the exact figures.

Average Funeral and Burial Cost in Oregon

As you assess the costs, it's valuable to consider the average funeral and burial expenses in Oregon, which sit around $7,533.

These figures help underline the adequacy of coverage amounts typically offered by guaranteed acceptance life insurance policies.

Strategically, securing Guaranteed Life Insurance aligns well with smart financial planning.

Through this insurance, families are spared from the financial shock during emotional times — a legacy of care and consideration.

Is Guaranteed Issue Life Insurance Right for You?

If you're in the age range and have been frustrated by traditional coverage denials, this might be your best bet. It's about securing that peace of mind without jumping through hoops.

Approaching this decision also means recognizing how such coverage impacts your family.

Consider if your beneficiaries will have sufficient support in the absence of traditional life insurance.

Important Factors to Consider

As you consider these options, evaluate your financial planning needs with factors such as:

• Monthly premium affordability.
• Coverage amount versus cost of final expenses.
• Duration before policy benefits fully mature.

How to Buy Guaranteed Issue Life Insurance

Next, let’s break down the steps involved in purchasing guaranteed issue life insurance:

• Research and compare different insurance providers.
• Request quotes and review the policy thoroughly.
• Consult with insurance specialists if needed.
• Complete the application.
• Await quick approval, make first premium payment and start the policy.

Increasing Trend Toward Guaranteed Approval Plans

Finding the ideal policy requires understanding more than just premiums. Utilize current data for informed decisions. Reports from the National Association of Insurance Commissioners (NAIC) indicate a significant rise in this type of insurance, particularly due to its accessibility.

What makes this interesting is the shift. LIMRA highlights the increase in guaranteed life insurance demand, driven by demographic changes and health challenges.

Summary

Whether you're planning proactively for your family's future or simply seeking peace of mind, guaranteed issue life insurance in Oregon might be your golden ticket. Remember, it’s about securing your legacy without the stress.

Throughout all these considerations, requesting a free quote is a good starting point. It's the simplest way to determine financial commitments and plan your budget effectively.

Guaranteed Issue Life Insurance Quotes

Top Pick – Allstate Benefits Insurance Company

Allstate Benefit's Guaranteed Acceptance policy offers $10,000 to $75,000 of coverage to working applicants between the ages of 18 and 70. Rates start as low as $9.65 per month. There’s no medical exam and no health questions. You cannot be turned down. You can get a quote and apply today. Start Here to get a FREE Quote.

NOTE: To qualify, applicants must be working at least 20 hours per week and not collecting any form of disability income or SSDI.

Highly Recommended – Mutual of Omaha

Mutual of Omaha offers guaranteed acceptance whole life insurance for people age 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.

• Your life insurance policy comes with a 30 day Risk-Free, Money-Back Guarantee

Resources:

• The Pros and Cons of Guaranteed Issue Life Insurance
• Guaranteed Issue Life Insurance FAQs
• Tips for Buying Guaranteed Issue Life Insurance