Guaranteed Acceptance Life Insurance
Get up to $30,000 cash for your family with a Guaranteed Acceptance life insurance policy.
No medical exams or health questions. There are a handful of carriers to shop and best of all you cannot be turned down due to your health.
As long as you’re between age 50 – 85 your acceptance is guaranteed.
Life Insurance can ease the cost of your final expenses.
Not being prepared for end-of-life costs can leave loved ones in a difficult financial situation. Personal debts, medical bills, and eventually, funeral cost all are expenses that need to be planned for.
Life insurance provides guaranteed funds are paid directly to your beneficiary. And they can use the money however they choose. Rest easy knowing that the funds will be there when needed the most.
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Guaranteed Acceptance Life Insurance Details
- Ages 50- 85
- No health questions
- Up to $30,000 in coverage
- Simplified application – completed over the phone
- Limited death benefit during first 2 years of policy
- Free accidental coverage
- Terminal illness protection – if you are diagnosed with a terminal illness a portion
How is Guaranteed Acceptance Different than Other Types of Life Insurance?
The difference is in the policy details — not the quality of coverage.
Guaranteed Acceptance life insurance is a last resort option for individuals who don’t qualify for other types of life insurance. There’s no underwriting. And there’s no minimum health standards you need to meet to be approved.
Guaranteed policies provide the same quality protection as other policy types, however, there are a few policy restrictions in exchange for forgoing any defined health requirements.
Limitations of Guaranteed Acceptance Life Insurance
There are two key limitations you need to understand about guaranteed acceptance life insurance.
Maximum coverage of $30,000
Several insurance carriers offer guaranteed acceptance plans up to $30,000 in coverage. However, most carriers will cap your policy at $25,000.
Other types of senior life insurance policies have much higher coverage limits, however, they also have set health requirements that you much reach in order to qualify.
Guaranteed acceptance plans are for individuals that do not qualify for these other types of coverage. These plans are not designed to leave behind a legacy. Rather the low limits provide enough funds to help cover end-of-life expenses regardless of your health condition.
2 year waiting period for full policy benefits
There is one major down fall about guaranteed acceptance life insurance. All plans have a 2 year waiting period before the full coverage amount is eligible.
Without a waiting period every person on the brink of death would enroll in a policy. The two-year waiting period ensures that you pay at least 24 premium payments before the full death benefit is eligible.
What if I die during the two year waiting period?
If death occurs from health reasons during the 2 year waiting period all the premiums you paid into your policy are returned to your beneficiary plus an additional percentage. Usually 10%. However, if you die from an accident or a non health reason during the waiting period your policy will still pay out the full amount.
In order to avoid this waiting period you will need to be in good enough health to qualify for a traditional policy which has health criteria underwriting.
Is Guaranteed Acceptance Life Insurance Affordable?
For the most part, yes. Millions of elderly Americans enroll in guaranteed plans every year. Which means one way or another they make room in their budget to protect their family with the options that they have.
However, guaranteed plans are more expensive than other forms of life insurance. Your rates will be higher compared to other policy types. This is why guaranteed acceptance life insurance policies are typically the last resort option.
Why are plans more expensive?
Traditional life insurance policies do not accept everyone who applies. Those in poor health are denied coverage due to poor health which equates to their mortality risk being too high.
Guaranteed acceptance life insurance plans cost more simply because you are a high risk applicant. Individuals in poor health have a shorter life expectancy than health individuals. Short life expectancy means you’ll likely pay fewer premiums payments to the insurance carrier before they pay back out the death benefit to your beneficiary. Because of this, the rates are higher.
Though rates are higher than other policy types it does not mean you should dismiss getting a policy. The low coverage limits also lower the cost of your premiums. And remember, life insurance is an investment. An investment that returns more money back to your beneficiaries than what you paid into to it. Guaranteed plan still provide a better opportunity to stretch your dollar than that of just saving a little money away each month.
Finding your best rate
Finding your best rate comes down to shopping your available options. There are far fewer companies who sell guaranteed acceptance life insurance policies, however, there are still a handful to shop and compare.
Those who fail to properly shop their eligible offers are likely to end up paying more than they have to for their policy. Or worse, completely uninsured.
Best Guaranteed Acceptance Life Insurance Companies
There is no single best insurance company. The market is far to competitive.
Insurance carriers compete with each other by catering to different subgroups of people and of course by rates. The best company for you to purchase your policy from will depend on a number of variables.
You age, health, desired policy amount, gender, and your state of residence all factor in to finding your best offer. Which highlights the importance knowing how to shop and compare policies. Our independent agency helps you do this quickly and efficiently without the head ache or the hassle.
Though there is no single best carrier to purchase from there are several carriers that stand out above the rest. These 3 insurance companies consistently offer the best policy value and the most competitive rates for guaranteed acceptance life insurance. We highly suggest you quote these carries before making a policy purchase.
How to Enroll
Enrolling in a guaranteed acceptance life insurance plan is easier than you think. Because there are no health questions the applications are quick and easy. And coverage can begin the very next day.
Quote – Get started today by filling out the instant quote widget on your screen. You’ll instantly see rates from all the top providers including the 3 recommended carriers listed above.
Compare – One of our friendly agents will help you compare policy details and narrow down your best coverage options. We’ll put you in the position to make the best decision for your family and your finances.
Enroll – Enroll in your best policy in a matter of minutes. The whole process is completed over the phone with one of our agents.
Once you are approved we ship your policy directly to you for review. Most states allow up to 30 days as free look period where you can go through your policy to make sure it’s exactly what you need. If not, you can return you policy at no cost within the free look period.
Our independent agency has help thousands of individuals in poor health secure the coverage they need to protect their families. We’d love to help you too.
Our services are free. And there’s never any obligation when speaking with an agent. Explore your options today. Fill out the form on your screen to get started.
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