Life insurance that is guaranteed issue means that the person applying for the life insurance policy cannot be turned down due to life insurance, or other risks.

However, there are usually strict age guidelines for guaranteed issue life insurance policies, with the minimum age usually around ages 40-50 and the maximum age usually under age 80. 

Also, the life insurance policy usually has a graded death benefit during the first one to three years, meaning that it will pay a portion of the death benefit (or pay back what was paid in as premiums plus a little extra) during those years for death due to natural causes.

After the graded period is over, it generally pays out 100% death benefit for death by any reason.

Learn more about life insurance guaranteed issue.