Guaranteed life insurance is a type of life insurance plan that makes it easier for people to qualify for coverage.
It means you are guaranteed to get insured if you meet the requirements, usually you have to be of a certain age to qualify for guaranteed life insurance.
In addition, the amount of life insurance provided may be limited to up to $30,000 of life insurance, and the rate you pay will be higher because people may qualify for are unable to get insurance elsewhere, so there is a higher risk of paying out a claim for the life insurance company.
Guaranteed life insurance plans allow you to get a free quote and apply online for your simplified life insurance plan online without having to take any health examination.
Who buys guaranteed life insurance plans?
There are many people who may choose to purchase a guaranteed life insurance policy, but some classes of risk may be better suited for this type of coverage; such as,
1. People over age 75
2. People who are Obese
3. People with DUI's.
4. People who have HIV/AIDS
5. People with Emphysema
6. People with Cancer
7. People with Diabetes
Just because you are a high risk for life insurance doesn't mean you won't qualify for a standard life insurance policy.
But, if you have tried to get insured for life insurance and been turned down, or your health makes it difficult for you to qualify, you may want to consider
guaranteed life insurance coverage.
