Available from 15 days of age to 85 years old, the Nephi Group offers Guaranteed Issue Life Insurance with no medical questions asked, no physical exam required. You can not be turned down for this coverage. No matter your medical history you can get Guaranteed Issue Life Insurance by contacting the Nephi Group Today.
Not everyone qualifies for traditional life insurance coverage. For those with pre-exisiting medical conditions, those that do not wish to disclose their medical history or submit to a health examination, or those that do not receive life benefits through their employer, Guaranteed Issue Life Insurance is available regardless of applicants current health or employment situation and is guaranteed to be issued.
Guaranteed Life Insurance is a type of financial-protection policy that provides cash to a named beneficiary upon the insured’s death, which an insurance company will offer to an applicant regardless of health. Guaranteed issue life insurance tends to be a last resort for individuals who can’t qualify for life insurance because of their current or past health problems and who don’t have the option to purchase life insurance as a benefit through their employer.
The only requirement to receive a guaranteed issue life insurance policy is that you pay your premiums.However, because there are no qualifications to receive such a policy, those premiums tend to be higher than what a qualified applicant would pay for the same amount of coverage under other types of life insurance policies that require medical underwriting. An Insurance Professional like the Nephi Group can investigate the full range of life insurance policies and able to find you the best value.
In addition to higher premiums, insurance companies that issue guaranteed life policies protect themselves against risk in two additional ways: (1) by offering relatively low payouts, and (2) by typically not providing a death benefit during the first two or three years after issuing the policy (if the policyholder dies a non-accidental death during this time, the company issues a refund of premiums instead with a guaranteed prevailing interest rate, which is typically 5%). This protects the insurer from having to make payouts for people who sign up for policies when they are close to dying, just in time for their loved ones to receive a death benefit.