Guaranteed Issue Life Insurance to Age 85

When it comes to securing your family's future, life insurance is a pivotal element of financial planning.

For those between the ages of 50 and 85, finding a suitable policy can be more challenging due to health concerns or the perception of being 'high-risk.'

That's where Mutual of Omaha's guaranteed issue life insurance shines. It offers individuals the peace of mind that, regardless of their medical history or current health status, they can obtain coverage.

Guide to Guaranteed Issue Life Insurance to Age 85

Quick Review

Guaranteed issue life insurance to age 85 is a type of whole life insurance policy designed for individuals who may have difficulty obtaining traditional life insurance due to age or health issues.

This policy guarantees acceptance without the need for a medical exam or health questionnaire, making it accessible to those up to age 85.

While premiums are typically higher and coverage amounts lower compared to other life insurance types, it provides a way to ensure financial protection for final expenses, such as funeral costs, for those who might otherwise be uninsurable.

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Mutual of Omaha Guaranteed Issue Life Insurance

Unlike traditional life insurance policies that often require medical exams or responses to health questions, guaranteed issue life insurance is a no-hassle alternative. Understanding the particulars of Mutual of Omaha's offering can help you make a well-informed decision. Let's delve into how this particular policy works.

Mutual of Omaha: Renowned for strong customer service and comprehensive policies. Known for affordability and competitive premiums.

• Up to $25,000 of coverage
• Available in every state and DC
• 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

Here's how Mutual of Omaha guaranteed issue life insurance works:

Eligibility: Available to individuals aged 50 to 85. No medical exams or health questions are required, which makes it accessible to those who might be declined elsewhere, such as individuals with pre-existing conditions.

Coverage Amount: Typically, the coverage amount ranges up to $25,000. This sum is strategically designed to cover final expenses, ensuring your loved ones aren't burdened with funeral costs or outstanding debts.

Level Premiums: Your premiums remain the same throughout the life of the policy. This can be advantageous for budgeting since you won’t have to worry about premium increases as you age.

Graded Death Benefit: During the first two policy years, if death occurs due to natural causes, the payout will be limited to a return of premiums plus interest. Accidental death, however, is covered at 100% from day one.

Cash Value Accumulation: Over time, the policy builds a cash value that you can borrow against if needed. This feature can be an added financial resource in emergencies.

Tax-Free Death Benefit: The death benefit your beneficiaries receive is tax-free, meaning every cent is used toward the intended purpose, offering them full support without additional tax burdens.

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Health Issues – No Problem

For those who have previously struggled with securing life insurance due to health issues such as heart disease, diabetes, or even recent cancer, guaranteed acceptance life insurance like that from Mutual of Omaha is a lifeline. This kind of insurance ensures that you are covered without the stress of qualifying under strict medical underwriting procedures.

Example of Guaranteed Issue Life Insurance Coverage

Consider Jane, a 70-year-old grandmother who had been troubled by emphysema for years. Traditional life insurance companies turned her away multiple times due to her condition. Mutual of Omaha provided a simple solution with their guaranteed life insurance to age 85. Now, Jane has peace of mind knowing her final expenses won't burden her children.

Affordable Premiums

While knowing the functional aspects is essential, understanding its financial impact can’t be overlooked. Mutual of Omaha's premiums are designed to be affordable given their simplified underwriting.

Although typically more expensive than fully underwritten policies, they are priced competitively within the guaranteed issue market, often considered indispensable for those labeled as "uninsurable." Get a FREE Quote.

Quick Application Process

Another advantage is the swift and uncomplicated application process. You can request a free quote for coverage, streamlining your decision-making process without the stress of invasive medical scrutiny. The usual wait for policy approval is notably shorter, reflecting the ease and quickness sought by applicants.

Industry Trend Toward Guaranteed Coverage

According to a recent study by LIMRA, the number of seniors opting for guaranteed acceptance life insurance is on the rise.

It's no wonder—given the increasing recognition of the importance of covering final expenses as you age, especially when estimates from the National Funeral Directors Association place the average cost of a funeral above $8,000.

Is Guaranteed Issue Life Insurance Right for You?

If you are unsure whether this type of insurance is for you, consider your current life situation and financial goals.

Are you concerned about your health deteriorating? Are you on a fixed income, making predictability essential? Would your savings significantly cover your final expenses, or would your family need more support?

Answering these questions can guide you in your decision-making process.

Peace of Mind

One must also weigh the emotional ease that such insurance brings. Beyond just numbers, there's a comforting thought: knowing that your passing won’t add a financial burden on your family. This is particularly vital in helping loved ones grieve without the stress of unexpected expenses.

Reasons to Choose Guaranteed Issue Plans

Now, you might be wondering about the specifics of how the policy supports those with particular health issues. Whether you’re coping with diabetes or managing life after a heart attack, you'll be relieved to know that you’re not alone.

Many seniors choose guaranteed issue policies specifically due to these conditions.

Coverage You Can Count On

Mutual of Omaha’s policy notably extends coverage to high-risk individuals, offering a reliable solution that traditional life insurance policies typically deny.

Imagine the relief when smokers who have been repeatedly turned down elsewhere find out they still have a solid, dependable choice.

Limitation of Coverage

Let's address the possible downside, the graded death benefit. It might raise concerns; however, if you consider the broader context—having coverage when all other doors are shut—the initial two-year limitation of death benefit presents a reasonable trade-off.

Consider Your Needs

Evaluating the details and assessing your needs carefully will aid in crafting a plan that aligns with your financial strategy, ensuring that your goals for end-of-life expenses are met without unexpected legacy costs.

Summary

To take the next step, consider speaking with a financial advisor or directly contacting Mutual of Omaha for a tailored quote. It’s a good practice to compare several options but remember that the simplicity and ease of securing guaranteed life insurance to age 85 might make it the most logical choice for your specific situation.

As you contemplate your options, remember the ultimate aim is to provide financial security and peace of mind for you and your loved ones. With Mutual of Omaha's guaranteed acceptance life insurance, you’re not just getting a policy; you're forging a lasting commitment to security and comfort during life's most vulnerable times.

Guaranteed Issue Life Insurance Quotes

Top Pick – 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