Who should get Guaranteed Life Insurance?

Guaranteed life insurance can be a good option for individuals who may have difficulty qualifying for other types of life insurance policies due to age or health issues. Some examples of people who may benefit from guaranteed life insurance include:

1. Seniors: Guaranteed life insurance is often marketed to seniors who may be outside the age range for other types of life insurance policies. These policies can help seniors ensure that their final expenses, such as funeral costs, are covered.
2. Individuals with pre-existing medical conditions: If you have a pre-existing medical condition that makes it difficult to qualify for traditional life insurance policies, guaranteed life insurance may be a good option. With these policies, there are usually no medical exams or health questions required to qualify for coverage.
3. Those who need coverage quickly: Guaranteed life insurance policies can often be issued quickly, sometimes within a matter of days, which can be helpful if you need coverage right away.
4. Those who want to leave a small legacy: Guaranteed life insurance policies usually have limited death benefits, but they can still be useful for leaving a small legacy to loved ones or covering final expenses.

It is important to carefully consider the costs and benefits of guaranteed life insurance before making a decision. While these policies can be useful in certain situations, they often come with higher premiums and limited death benefits, so it may not be the best option for everyone.

Guaranteed life insurance is specifically designed for individuals who may have difficulty qualifying for other types of life insurance policies due to health issues. Therefore, these policies typically have fewer restrictions on pre-existing medical conditions than other types of life insurance. In fact, guaranteed life insurance policies have no medical exams or health questions required to qualify for coverage.

While the specific eligibility requirements for guaranteed life insurance policies can vary between insurers, some common health conditions that may be covered by these policies include:

1. High blood pressure
2. High cholesterol
3. Type 2 diabetes
4. History of heart attack or stroke
5. Cancer
6. Chronic obstructive pulmonary disease (COPD)
7. Kidney disease or Kidney Failure
8. Liver disease
9. Parkinson’s disease / Alzheimer
10. HIV
11. Wheelchair
12. Assisted Living / Nursing Home
13. Heart Disease

It is important to note that the death benefit for guaranteed life insurance policies is usually limited, so these policies may not be the best option if you need a larger amount of coverage. Additionally, because there is no underwriting involved, guaranteed life insurance policies often come with higher premiums than other types of life insurance.