Guaranteed, Graded & Simplified Issue Life Insurance

• Have you been declined for life insurance, or do you have a serious health condition that makes you concerned you won’t qualify?
• Don’t automatically assume that guaranteed-issue life insurance is your only choice. Depending on your age, medical history and the amount of coverage you need, you may still qualify for a rated or simplified-issue policy with better benefits.
• Our goal is to find the best type of coverage you can reasonably qualify for — not simply put everyone into guaranteed issue.
• Email Steve to review your situation.
• Schedule a Zoom Meeting

Which Type of Coverage Should We Try First?

• There are several levels of underwriting. We generally want to see whether you can qualify for better coverage first and use guaranteed issue when necessary.
• Regular or Rated Life Insurance — Medical conditions don’t necessarily mean you can’t qualify. You may simply pay a higher premium depending on your health history.
• Simplified Issue Life Insurance — Generally no medical examination, but you answer health questions. Qualification depends on the company’s underwriting rules.
• Guaranteed Issue Life Insurance — Designed for people who may not qualify for other coverage. These policies may have no health questions, but typically have lower coverage amounts, higher costs for the amount of insurance purchased, and a graded death benefit during the early policy years.
• Whenever possible, let’s see whether you can qualify for regular, rated or simplified coverage before settling for guaranteed issue.
• Email Steve to discuss your situation.
• Schedule a Zoom Meeting

Health Problems or Previously Declined?

• A previous decline does not necessarily tell us what another insurance company will do. Companies have different underwriting guidelines, and different types of policies ask different medical questions.
• People looking at this page may have a history involving cancer, diabetes, heart or circulatory problems, HIV, obesity, kidney problems or other serious medical conditions.
• Eligibility depends on the individual insurance company, policy, age, state and medical history. Rather than guessing, let’s see which category of coverage may be worth investigating.
• Email Steve for an eligibility review before applying.
• Schedule a Zoom Meeting

What Is Guaranteed Issue Life Insurance?

• Guaranteed-issue or guaranteed-acceptance life insurance is designed for applicants who may have difficulty qualifying for traditionally underwritten life insurance.
• Some guaranteed-issue policies require no medical examination and no health questions.
• The trade-offs may include limited coverage amounts, higher premiums for the amount of insurance purchased, and a graded death benefit during the first few policy years.
• Always review the actual policy brochure and policy contract for the exact eligibility requirements, graded-benefit period, exclusions and benefits.
• Email Steve if you would like help reviewing your options.

What Is a Graded Death Benefit?

• A graded death benefit means the full life insurance death benefit may not be payable for death from natural causes during the policy’s initial graded period.
• The length of the graded period and the amount payable during that period vary by insurance company and policy.
• Some policies may return premiums plus an additional amount during the graded period, while others use a different benefit formula.
• Do not assume that every guaranteed-issue policy works the same way. Check the current carrier brochure and policy documents for exact provisions before enrolling.
• Email Steve for current product information.

Final Expense & Burial Life Insurance

• These policies are often called Final Expense, Burial Insurance or Funeral Insurance.
• They are generally smaller life insurance policies intended to leave money for beneficiaries to help with expenses after death.
• Families may face funeral and burial costs along with medical bills, debts and other expenses.
• The amount of coverage that makes sense depends on what you want the policy to accomplish and what premium comfortably fits your budget.
• Final expense insurance can be medically underwritten, simplified issue, graded or guaranteed issue depending on the policy.
• Email Steve for help comparing your options.
• Schedule a Zoom Meeting

Carrier Brochures, Applications & Medical Questions

• Below are brochures, sample medical questions and other carrier information that may help determine which type of policy is worth considering.
• Products and underwriting rules can change. The current application, brochure and actual policy documents control.
• Fidelity Life — Simplified and guaranteed-issue information.
• Gerber Life — Guaranteed Life information.
• United of Omaha / Mutual of Omaha — Living Promise Whole Life information.
• Medical Questionnaires — Review to see whether simplified or rated coverage may be possible.
• Email Steve for current brochures, eligibility questions and enrollment assistance.
• Schedule a Zoom Meeting

Final – Burial Expense Whole Life

Gerber 
Email us for more information

Gerber Website 

•  new generation ins.com/