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The Truth About No Questions Asked Life Insurance


Is Guaranteed Issue Life For Real?

If you have been declined for insurance, have some privacy concerns, or just do not want to have a big hassle, it can be tempting to apply for a guaranteed issue life insurance policy. You find them advertised on TV or the net all the time, and they promise not to turn down any applicants! This is also called no health questions life insurance. But how can this work?

Life insurance companies are very good at making a profit, and it must be obvious they know how to minimize the risk. So they are not about to issue policies for a lot of people who are very motivated to buy policies without answering any health questions or getting a physical!

The Ah-Ha is a Waiting Period

They use a waiting period to minimize their risk. This means that some months to years must elapse between the time the policy is issued and when it will pay out the full benefit amount. In some ways, this waiting period is even better than health underwriting. That is, it is better for the insurer.

Understand more about guaranteed issue life insurance. This will explain more about how these policies work so you can decide if they are a good deal for you. It also explains simplified issue life insurance, which does ask a few simple health questions.

We are not trying to steer you in one direction or another, but just trying to inform you so you can make the best decision for your family!

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September 2nd, 2010 | Tags: , | Category: Senior Life Insurance

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