Get guaranteed issue whole life insurance with physical or medical disability

Guaranteed issue whole life insurance can be a good option for people with physical or mental disabilities who may have difficulty qualifying for traditional whole life insurance due to health concerns. Qualifying age 0 to 85. Here’s what you need to know:

Benefits of Guaranteed Issue Whole Life:

  • Guaranteed Approval: No medical exam or health questions are required, making it easier to qualify regardless of your disability.
  • Permanent Coverage: Your policy lasts your entire lifetime as long as you keep up with premiums.
  • Cash Value Accumulation: A portion of your premiums goes towards a cash value that grows over time. You can borrow against this value or withdraw it (with tax implications).

Call Toll Free (800) 398-0254

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Things to Consider:

  • Limited Coverage: Guaranteed issue policies typically offer lower death benefit amounts compared to traditional whole life. This may not be suitable for everyone’s needs.
  • Graded Death Benefit: In the initial years (usually 2-3 years) of the policy, the payout to your beneficiaries might be less than the full face value, except in case of accidental death.
  • Higher Premiums: Guaranteed approval comes at a cost. Premiums for guaranteed issue whole life are generally higher compared to traditional whole life due to the increased risk for the insurer.

Alternatives to Explore:

  • Simplified Issue Whole Life: This option involves a few health questions but no medical exam. Coverage amounts are typically lower than traditional whole life, but may be more than guaranteed issue and could be a good middle ground.
  • Group Life Insurance: If your employer offers group life insurance, this could be a more affordable option regardless of pre-existing conditions.

Call Toll Free (800) 398-0254

Finding the Right Policy:

  • Talk to an Insurance Agent: An experienced agent can explain your options, assess your needs, and find the best plan based on your disability and financial goals.
  • Compare Quotes: Get quotes from multiple insurance companies to ensure you’re getting the most competitive rate.

Remember:

  • Guaranteed issue whole life can be a valuable tool, but it may not be the best fit for everyone. Carefully consider your needs and budget before making a decision.
  • Be honest about your disability during the application process. This ensures you get the right coverage and avoids future issues.

Call Toll Free (800) 398-0254