The Guaranteed Issue Platform:
How Can This Help Me?
The Guaranteed Issue Life Insurance platform is designed to offer individuals, with severe health concerns, access to insurance coverage for burial expenses. These Impaired Risk insurance programs offer guaranteed acceptance for individuals who have a history, in the last five years, of heart attack, stroke, cancer, insulin diabetes, full-time oxygen use or HIV/AIDS diagnosis. The only restrictions to acceptance on these policies is the minimum/maximum age covered and you must reside in a state where an insurance plan like this is offered.
Graded insurance plans like these are distinguishable from Level insurance plans by the additional waiting period that is imposed. They are not an immediate full value policy. If death occurs prior to the satisfaction of the waiting period, for any reason other than by accident, your beneficiary(s) will receive a return of any premium payments along with a pre-established amount of interest or a percentage of the face value of the insurance policy.
The typical waiting period for these insurance policies range from two to three years and vary depending upon the policy or program. This waiting period is needed to protect the insurance companies, but it allows them to serve many additional customers with critical health conditions. Once the waiting period has been met, or if death occurs by accident, your family will collect the full face value of this insurance policy.