Guaranteed Issue Life Insurance
Posted in Final Expense Life Insurance on December 21, 2021 last updated on May 26, 2026
What is Guaranteed Issue Whole Life Insurance?
Guaranteed issue life insurance is a type of whole life insurance that offers guaranteed approval with no medical exam and usually no health questions. These policies are commonly designed for seniors or applicants with serious health conditions who may not qualify for traditional life insurance. Coverage amounts are usually smaller and waiting periods often apply.
If you have found this page, then it’s likely that you have been declined for traditional life insurance and you are looking for coverage that doesn’t ask any health questions. Guaranteed issue whole life insurance may be the answer.
Guaranteed issue whole life insurance can provide coverage for seniors to protect their loved ones with some financial protection from end-of-life expenses such as burial costs.
Since there are no health questions your premium is based on your age, gender, and location. Guaranteed issue whole life insurance belongs in the final expense insurance category.
Guaranteed acceptance life insurance comes with death benefits ranging from $2K-$25K. Premiums are always guaranteed for life and these policies do build up cash value.
I know all this sounds great (no exam, no health questions, guaranteed issue) but there is a catch. With guaranteed issue life insurance, during the first 2 years of the policy, claims are only paid for accidental deaths. Natural deaths in the first 2 years are not covered. If natural death does occur in the first 2 years, your premium plus 10% will be returned to your beneficiaries.
How Does Guaranteed Issue Life Insurance Work?
Guaranteed issue life insurance is designed for applicants who may have difficulty qualifying for traditional coverage due to age or health conditions.
These policies typically:
- require no medical exam
- ask few or no health questions
- provide permanent whole life coverage
- offer smaller death benefits
- have higher premiums than fully underwritten policies
Because approval is guaranteed, insurance companies usually reduce risk by limiting coverage amounts and adding graded death benefit waiting periods.
| Feature | Guaranteed Issue | Simplified Issue | Traditional Life Insurance |
|---|---|---|---|
| Medical Exam | No | No | Often Yes |
| Health Questions | Usually No | Yes | Yes |
| Approval Guaranteed | Yes | No | No |
| Coverage Amount | Lower | Moderate | Higher |
| Waiting Period | Usually Yes | Usually No | No |
Who Should Consider Guaranteed Issue Life Insurance?
Guaranteed issue life insurance may work well for seniors who:
- have serious health conditions
- seniors in there 70’s or 80’s
- were previously declined
- want guaranteed approval
- need burial or funeral coverage
- want to avoid medical exams
- have multiple chronic medical conditions
These policies are commonly considered by seniors managing:
- heart disease
- stroke history
- COPD
- cancer history
- pacemaker installed
- diabetes
- multiple health conditions
- Afib
- multiple heart attacks
Although premiums are higher, guaranteed issue coverage may provide peace of mind for families who otherwise could struggle to obtain life insurance.
Guaranteed Issue Whole Life Insurance Summary
Does Guaranteed Issue Life Insurance Have a Waiting Period?
Most guaranteed issue life insurance policies include a waiting period, often lasting 2–3 years for deaths caused by natural illness.
During the waiting period:
- accidental death is often covered immediately
- natural death may only return premiums paid plus interest
After the waiting period ends, the full death benefit usually becomes available regardless of health condition.
The Best Guaranteed Issue Whole Life Insurance Companies + Rates
We have compiled a list of best guaranteed issue life insurance companies plus some sample rates. Remember that most guaranteed issue polices function the same, the major difference will be price.
AIG Guaranteed Issue Whole Life
AIG is a household name when it comes to insurance. AIG has more than 90 million policyholders in over 130 different countries.
AIG guaranteed issue whole life insurance offers coverage between $5K-$25K to consumers age 50-85 years old.
AIG guaranteed issue whole life Rates
AARP Guaranteed Acceptance Whole Life
AARP guaranteed acceptance whole life insurance is sold through New York Life Insurance company to its members and their spouses.
AARP offers a no medical guaranteed issue whole life insurance policy with very competitive rates. Issue ages for AARP guaranteed acceptance life insurance is 50-80 with face amounts ranging from $5K-$25K.
AARP guaranteed acceptance rates:
Gerber Life Insurance Company
Gerber Life Insurance company is best known for their Gerber Grow Up Plan for children, but they also offer a guaranteed issue whole life policy for adults.
Gerber has been doing business since 1927 and boasts an “A” rating with A.M. Best. They have over $45 billion of life insurance on the books with over 3.3 million policies.
Gerber Life’s guaranteed issue whole life offers coverage to consumers between the age of 50-80 with death benefits ranging from $5K-$25K.
Gerber Life Guaranteed Issue Life Rates:
Vantis Life Guaranteed Issue Whole Life
This company is probably one you haven’t heard to often, however, they have been in business since 1942. Based out of Windsor, Connecticut, Vantis Life merged with The Penn Mutual Life Insurance Company in 2016. Penn Mutual carries an “A+” rating with A.M. Best while Vantis Life boasts an “A-“.
Vantis Life’s guaranteed issue whole life offers coverage to consumers age 50-80 with death benefit amounts ranging from $5K-$20K.
Vantis Life Guaranteed Issue Rates
Mutual of Omaha Guaranteed Issue Life
Mutual of Omaha has been selling insurance products since 1909. Mutual of Omaha offers guaranteed acceptance whole life insurance through there captive channel.
Mutual of Omaha guaranteed acceptance whole life is for seniors age 45-85 with death benefits ranging from $2K-$25K.
Mutual of Omaha Guaranteed Issue Rates
Male Monthly Rates
Female Monthly Rates
AAA Guaranteed Acceptance Life
AAA Life Insurance Company has been selling insurance since 1969. They boast an “A-” rating with A.M. Best.
AAA guaranteed acceptance life is available for consumers age 45-85 with death benefits ranging from $5K-$25K. AAA guaranteed acceptance life grants you 30% interest + premiums during the waiting period. This is much higher than the industry standard of 10% + premiums.
AAA Guaranteed Acceptance Rates
Male Rates
Female Rates
Physicians Mutual Guaranteed Acceptance
Physicians Mutual has been in business since 1902. They have an “A” rating with A.M. Best rating agency. Issue ages for Physician Mutual guaranteed acceptance whole life is 50-80 years old. Death benefits range from $3K-$10K.
Physicians Mutual Guaranteed Acceptance Rates
Male Rates
Female Rates
Summary
Is Guaranteed Issue Life Insurance Worth It?
Many seniors believe they can no longer qualify for life insurance because of age or serious health conditions.
Guaranteed issue life insurance may still provide:
- funeral coverage
- protection for loved ones
- peace of mind
- guaranteed approval without medical underwriting
Even smaller policies can help families avoid unexpected financial stress during a difficult time.
What to do before buying
If you have been turned down for traditional life insurance and feel that guaranteed acceptance whole life may be your only option, there are a few things you should do before buying.
The first thing you can do is consult with an independent life insurance agent, that represents at least 10 different insurance companies. They will be able to help you in choosing which type of policy you could qualify for.
Most life insurance companies design their underwriting to cover certain health risks. Having access to those companies is key to ensuring you get the best policy available for you. A captive agent only has access to the polices sold by one company, so working with an independent agent is crucial.
Make sure to have a detailed list of your health conditions for your agent. This will help them find the best company to use and hopefully get you the coverage you want. If you have any questions, or need a quote, let us know. Thanks for reading.
Frequently Asked Questions
What is guaranteed issue life insurance?
Guaranteed issue life insurance is a type of policy that accepts everyone—no health questions, no exams, and no medical records. As long as you meet the age requirements (typically 50–80), you’re guaranteed approval.
Who is guaranteed issue life insurance best for?
It’s designed for seniors or individuals with serious health issues who may not qualify for traditional or simplified issue policies. It’s often used to cover final expenses, medical bills, or small debts.
Do I need a medical exam or health questionnaire?
No. That’s the main advantage of guaranteed issue life insurance—no exams, no health questions, no denials.
How much coverage can I get?
Most guaranteed issue policies offer $2,000–$25,000 in coverage, though some carriers may go up to $50,000. It’s meant for smaller financial needs rather than income replacement.
How much does guaranteed issue life insurance cost?
Because the insurer takes on more risk, premiums are higher per dollar of coverage than other life insurance types. A 65-year-old might pay $50–$100 per month for $10,000–$20,000 of coverage.
What is a graded death benefit?
A graded benefit means your full death benefit isn’t paid immediately if you pass from natural causes within the first 2–3 years. If that happens, your beneficiaries usually receive a refund of premiums paid plus interest. Full benefits typically start after that waiting period.