Best Guaranteed Approval Life Insurance

guaranteed approval life insurance

Who can predict a health problem or surgery that might leave you needing guaranteed approval life insurance?  Sometimes in order to protect your family in case of an unexpected death in the family, people need to find a life insurance plan where poor health, a chronic condition, or recent surgery doesn’t disqualify them from approval. There are hundreds of life insurance options and figuring out which one will work for a high risk application can be difficult. That is why an insurance broker can help you find a guaranteed approval life insurance plan, even if you have red flags in your application.


What is Guaranteed Approval Life Insurance?

Guaranteed Approval Life Insurance is just what it sounds like. It is a life insurance plan where regardless of your health history, you are guaranteed for approval as long as you are between the ages of 50-85. This type of life insurance is a whole life insurance plan meaning it lasts for your whole life. This especially reassuring to clients who need a guaranteed approval plan because once the plan is in place, it cannot be cancelled for any reason as long as the premiums are being paid. Sometimes Guaranteed Approval plans are known as Guaranteed Issue life insurance.

How to apply for Guaranteed Approval Life Insurance

The application process for a guaranteed approval life insurance plan is very simple. There is a short questionnaire confirming personal information, address, beneficiary, and how much insurance you would like. Due to the fact that this plan is automatically approved, there are NO MEDICAL QUESTIONS at all! This makes the process completely no hassle. After the application is completed, approval usually happens either immediately or within 24 hours. Customers are able to choose a date of the month when it is most convenient for their monthly payment and then the plan is put into effect.

How much life insurance do you need?

guaranteed approval life insurance

Choosing your benefit amount for your guaranteed issue burial insurance is usually based on how much money your family will need to pay your final expenses.  Between cremation and burial, memorial services, headstones, caskets, remaining debts, or other money needs, there are a lot of factors when deciding how much insurance you need.  For those who prefer cremation, a common range is $7500-10,000 and burial plans are usually between $10,000-20,000. It is important to discuss the options with your family and sure that your beneficiary is aware of your wishes so they can be carried out. Talking through your preferences with family can also ensure you aren’t forgetting something that could have been included in your burial insurance.

How is Guaranteed Approval Life Insurance different from other life insurance plans

Guaranteed Issue plans have one standout characteristic- everyone is approved between the ages of 50-85, no questions asked. However, along with this blanket approval comes a waiting period of two years before the death benefit will be paid out.  This two year waiting period is the major difference between a guaranteed issue plan and more conventional types of life insurance. However, for those who have been turned down for life insurance or cannot get approved for any other type of plan, this concession will seem small compared to going without any life insurance and leaving your family to pay for burial expenses at the time of your passing. Also, the two year waiting period is waived in the event of an accidental death.

Is it possible to avoid the two-year waiting period?


YES, YES, YES!  Many of our clients are pleased to discover that even with a previously turned down life insurance application, Assurance Life is able to place many high risk clients in policies with either no waiting period, or a plan that phases in the death benefit over the two year period instead of paying nothing for the first two years. Getting preferred/level coverage that starts immediately for our clients, is our #1 priority. About 90% of applicants are approved for the highest level of coverage which means even if you have concerns about your health history, there is a good chance that we can find you a plan that is a step up from the guaranteed approval life insurance plan.  And worst case- the guaranteed issue is always available if other options don’t work out.

What next?

Let Assurance Life get you started with your life insurance plan. Giving your family the peace of mind in knowing that your final expenses including funeral costs, memorial services, and other debts and legal expenses are paid. Losing a loved one is hard enough without also adding a financial burden to the process. The monthly premiums are affordable and can be matched to any budget. Once you have your application in the works, you can rest assured in the guaranteed approval life insurance plan taking care of you and your family.