What is guaranteed life insurance?

Guaranteed issue life insurance (also known as guaranteed acceptance life insurance) is a permanent life insurance policy that doesn't include health questions or a medical exam as part of the application process. It's a good fit for individuals of an advanced age or with a serious medical condition that puts traditional permanent life insurance out of reach. However, guaranteed life policies typically offer much lower coverage amounts than traditional life insurance due to their lower eligibility requirements.

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What are the pros of guaranteed life insurance?

  • Quick & easy to get: Since you don't have to answer any questions about your health or undergo a medical exam, you can get approved for and buy a guaranteed life insurance policy fast.
  • Lifelong coverage: As long as you pay your premiums, your policy will last your entire life. (Keep in mind that the death benefit for these policies usually isn't available until two to three years after purchasing.)
  • Cash value component: Like other kinds of permanent life insurance, guaranteed issue life insurance includes a cash value component that builds over time, which you can use as collateral for a life insurance loan.


With RAPIDecision® Guaranteed Issue life insurance from eFinancial, you can quickly get approved for up to $25,000 in coverage — enough to pay for credit card debt, funeral services, and other end-of-life expenses. Call 1-866-912-2477 to discuss your options with a licensed Progressive Life by eFinancial representative.

What are the cons of guaranteed issue life insurance?

  • Lower coverage amounts: Since guaranteed life insurance has lower eligibility requirements, insurers generally offer less coverage to applicants. If you're looking for a policy that can cover end-of-life expenses, but with higher coverage amounts, then final expense insurance may fit your needs.
  • Graded death benefit: The death benefit of a guaranteed life policy usually includes a grading period, during which your policy won't pay out a total death benefit if you were to die. Instead, your beneficiaries may receive either a reduced death benefit or a refund of your premium dollars. This period typically lasts two to three years after you buy your policy, after which your beneficiaries can expect the full death benefit.
  • Age requirements: Many insurers put an age limit on guaranteed issue life insurance policies, typically ranging from 50 to 80 years old.
  • Higher premiums: Guaranteed issue life policies cost more than traditional life insurance since applicants usually have severe health conditions, which carries an increased risk for insurers.


Both simplified issue and guaranteed issue life insurance drop the medical exam as an application requirement. However, simplified issue life insurance requires you to fill out a questionnaire about your health. The insurer offers it as a term life policy rather than a permanent one. Learn more about simplified issue life insurance.

Should I get a guaranteed issue life insurance policy?

If you have a serious health condition that makes it difficult to qualify for a traditional permanent life insurance policy, then you might consider guaranteed issue life insurance. Some of these conditions may include cancer, diabetes, and severe chronic obstructive pulmonary disease (COPD).

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Please note: The above is meant as general information to help you understand the different aspects of insurance. Read our editorial standards for Answers content. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provisions, limitations, or exclusions expressly stated in any insurance policy. Descriptions of all coverages and other features are necessarily brief; in order to fully understand the coverages and other features of a specific insurance policy, we encourage you to read the applicable policy and/or speak to an insurance representative. Coverages and other features vary between insurers, vary by state, and are not available in all states. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. References to average or typical premiums, amounts of losses, deductibles, costs of coverages/repair, etc., are illustrative and may not apply to your situation. We are not responsible for the content of any third-party sites linked from this page.