Guaranteed Acceptance Life Insurance

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Guaranteed Acceptance Life Insurance 2017-05-25T09:39:16+00:00
guaranteed acceptance life insurance

Guaranteed acceptance life insurance policies, as their name implies, are guaranteed coverage. When you pass away, these policies offer cash benefits to a beneficiary that you named in your policy. The insurance company will provide this plan to any applicant regardless of their history or present health conditions.

Life policies last for as long as you pay for them; there is no expiration or a period limit. Typically, you must be a policyholder for two to three years before you can collect the benefit. Guaranteed issue insurance caters to those who can’t get term life insurance anywhere else.

Who Should Consider Guaranteed Acceptance Life Insurance

Guaranteed acceptance life insurance is typically for individuals between 50 and 80 years old. It is often the last resort for those who can’t qualify for other kinds of life insurance policies due to their medical issues and who don’t have the option to buy life insurance through their workplace.


  • They are a lot simpler to obtain than other types of life insurance policies. For people who typically wouldn’t qualify for term life insurance mainly because they have serious health problems, guaranteed acceptance life insurance is a decent option to consider.
  • The approval process takes few days. There’s no requirement for a clinical exam, so your coverage goes into force faster than term life insurance.  Plus, if you pay your premium every month, the policy will never expire.
  • If you are elderly or otherwise very ill and have minimal to no savings that may be used for a funeral, guaranteed issued life insurance could provide you with adequate funds to pay for a funeral.


  • For starters, guaranteed issue life insurance is overpriced. It’s probably the most expensive life insurance product out there. When we analyzed quotes from a preferred guaranteed life insurance company, we discovered that to get a death benefit that would cover the typical funeral; you’d have to pay more than $220 each month.
  • You don’t get a lot for your premium. Guaranteed issue life insurance death benefits are minimal. Some policies can offer death benefits of $25,000. However, it’s more likely that a policy would provide between $5,000 and $10,000.
  • Because of the higher premiums and the smaller amount of coverage, you could end up spending much more for your premiums compared to the death benefits your beneficiaries will receive. Plus, if you die soon after, your beneficiary will get just the payments paid and perhaps some interest, based on the company that issued the policy.

Guaranteed Acceptance Life Insurance Sample Rates

Guaranteed Acceptance Life Insurance Male

80 $88.57 $175.15 $261.72$434.87

Guaranteed Acceptance Life Insurance Female

80 $68.56 $135.12 $201.69$334.81