Best Guaranteed Issue Life Insurance Carriers

Guaranteed Issue Life Insurance Carriers

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Our Top 5 Guaranteed Issue Life Insurance carriers review is going to go over everything you need to know about guaranteed acceptance life insurance. We’ll cover real guaranteed issue life insurance rates and what company can offer you the cheapest guaranteed issue life insurance policies. How about the life insurance company ratings for each company? We’ll show you how financially strong each company is with their A.M. Best Rating.

Let’s get started!

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What you’ll learn:

The Top 5 Guaranteed Issue Life Insurance Companies

There are many life insurance companies who sell guaranteed acceptance policies. We did the research for you and found the Top 5 Guaranteed Issue Companies!  Let’s see who made the cut.

Top 5 Guaranteed Acceptance Companies

Our list below is based on Guaranteed Issue life insurance rates by age, gender, benefit and coverage amounts.

  1. AIG
  2. Gerber
  3. Great Western
  4. Kemper
  5. Mutual of Omaha

>>Bonus: Protection Plus Life

1. American General

AIG Guaranteed Acceptance Whole Life

American General is financially strong with an “A” rating according to A.M. Best. They came into the GI world in 2017 with their new Guaranteed Issue Whole Life Policy. 

Features

The AIG GI policy has the following features:

  • Application: Anyone between the ages of 50 to 85 can apply.
  • Benefit: Coverage amounts from $5,000 to $25,000
  • Graded Death Benefit: 24 month waiting period
  • Life insurance riders are available (not in all states) and include:
  • Chronic illness rider. This rider is added at no cost to you. You can access  your benefit amount (up to 50%) with qualifying illnesses.
  • Terminal illness rider. Early access to 50% of your death benefit is available to you if you’re diagnosed with a terminal illness.
  • Accidental Death: No waiting period for accidental death. Policy pays immediately on accidental deaths. 
  • Extra: Payer of the policy can be someone other than the policyholder.

AIG’s graded death benefit will pay 110% of the premiums already paid if the policyholder passes away in the first two years. The entire death benefit pays out beginning in the year three.  AIG is a great option if life insurance is needed for someone’s parents who need insurance coverage but cannot afford the premiums.

AIG Guaranteed Acceptance Sample Monthly Quotes

All rates are subject to change and are for comparison only:

Rates based on Males Age 50

  • $ 5,000 = $26
  • $10,000 = $51
  • $15,000 = $76
  • $20,000 = $101
  • $25,000 = $126

Rates based on Females Age 50

  • $ 5,000 = $18
  • $10,000 = $35
  • $15,000 = $52
  • $20,000 = $69
  • $25,000 = $86

2. Gerber Life

Gerber Guaranteed Issue

Gerber Life Insurance Company began business back in 1927 and has an A rating with A.M. Best. 

Features

The Gerber Guaranteed issue policy has the following features:

  • Application: Anyone between the ages of 50 to 85 can apply.
  • Benefit: Coverage amounts from $5,000 to $25,000
  • Graded Death Benefit: 24 month waiting period for natural deaths.
  • Accidental Death: No waiting period for accidental death. Policy pays immediately on accidental deaths. 
  • Extras: If the policyholder’s death happens from natural causes within the first 2 years – the beneficiary receives all premiums + 10%.

Gerber provides an excellent guarantee issue whole life for those with serious health issues looking for cheap final expense or burial insurances with no questions asked. Your premiums will be fixed for the entire life of the GI policy. You also have a cash account that will accumulate cash value which can be used to pay your premiums over a period of time. The cash can also be borrowed against.

Gerber Guaranteed Issue Life Insurance Sample Quotes

All rates are subject to change and are for comparison only:

Rates based on Males who are age 50

  • $ 5,000 = $19
  • $10,000 = $38
  • $15,000 = $57
  • $20,000 = $75
  • $25,000 = $108

Rates based on Females who are age 50

  • $ 5,000 = $14
  • $10,000 = $28
  • $15,000 = $41
  • $20,000 = $55
  • $25,000 = $84

3. Great Western

Great Western Guaranteed Issue

Great Western Life Insurance got its start in 1983. They’re rated with a B++ from the A.M. Best Company.

Features

The Great Western Guaranteed issue policy has the following features:

  • Application: Anyone between the ages of 40 to 80 can apply.
  • Benefit: Coverage amounts from $1,000 to $40,000
  • Graded Death Benefit: 24 month waiting period
  • Spousal Rider: If both spouses put in an application at the same time, Great Western will pay an extra $1,000 on the 1st death.
  • Children’s Rider: Get an extra $2,500 of coverage for your children or grandchild for only $1 per month.
  • Extra: Not available in every state (currently at 46 states)

Great Western Guaranteed Issue Sample Monthly Quotes

All rates are subject to change and are for comparison only:

Rates based on Males Age 50

  • $ 5,000 = $31
  • $10,000 = $59
  • $20,000 = $116
  • $40,000 = $229

Rates based on Females Age 50

  • $ 5,000 = $26
  • $10,000 = $49
  • $20,000 = $96
  • $40,000 = $189

4. Kemper

Compared to the competition, Kemper is a new company as they’ve been in business since 1990. They’re rated with an A- from the A.M. Best Company.

Features

The Kemper Guaranteed issue policy has the following features:

  • Application: Anyone between the ages of 40 to 80 can apply.
  • Benefit: Coverage amounts from $2,000 to $25,000
  • Graded Death Benefit: 24 month waiting period
  • Extra: Available in all states

Kemper Guaranteed Acceptance Sample Monthly Quotes

All rates are subject to change and are for comparison only:

Rates based on Males Age 50

  • $ 5,000 = $31
  • $10,000 = $58
  • $15,000 = $85
  • $20,000 = $112
  • $25,000 = $133

Rates based on Females Age 50

  • $ 5,000 = $28
  • $10,000 = $51
  • $15,000 = $75
  • $20,000 = $99
  • $25,000 = $117

5. Mutual of Omaha

Mutual Of Omaha Guaranteed Issue

Mutual of Omaha has been in business since 1909 and has an A+ rating from the A.M. Best Company.

Features

The Mutual of Omaha Guaranteed issue policy has the following features:

  • Application: Anyone between the ages of 45 to 85 can apply.
  • Benefit: Coverage amounts from $2,000 to $25,000
  • Graded Death Benefit: 24 month waiting period
  • Extra: Available in all states except for New York, Connecticut, Montana and Oregon

Mutual of Omaha Guaranteed Acceptance Sample Monthly Quotes

All rates are subject to change and are for comparison only:

Rates based on Males Age 50

  • $ 5,000 = $18
  • $10,000 = $36
  • $15,000 = $53
  • $20,000 = $71
  • $25,000 = $88

Rates based on Females Age 50

  • $ 5,000 = $15
  • $10,000 = $30
  • $15,000 = $44
  • $20,000 = $59
  • $25,000 = $73

Bonus: Protection Plus Life

Protection Plus Life Guaranteed Issue

Our bonus guaranteed acceptance policy is with Protection Plus Life. They are issued and insured by LifeShield National Insurance Company. Protection Plus Life GI is a term life insurance policy with a simple online application.

Features

The Protection Plus Life Guaranteed issue policy has the following features:

  • Application: Anyone between the ages of 18 to 75 can apply!
  • Benefit: Coverage amounts from $10,000 to $50,000
  • Premiums: Rates are based on age bands and increase every 10 years starting at age 34, 44, 54, and 64.
  • Graded Death Benefit: 24 month waiting period
  • Renewable: The term policy is renewable to Age 80
  • Extra: Not available in all states.

Protection Plus Life Guaranteed Issue Sample Monthly Quotes

All rates are subject to change and are for comparison only:

Rates based on Males Age 50

  • $10,000 = $43
  • $20,000 = $52
  • $30,000 = $61
  • $40,000 = $71
  • $50,000 = $80

Rates based on Females Age 50

  • $10,000 = $43
  • $20,000 = $52
  • $30,000 = $61
  • $40,000 = $71
  • $50,000 = $80

Guaranteed Acceptance Sample Quotes

The following monthly rates are for Guaranteed Issue Final Expense life insurance for men and women. All sample rates are rounded down to the nearest dollar and should be used for comparison purposes only. Rates are subjected to change.

Guaranteed Acceptance For Males Ages 40 – 80

AGE$5,000$10,000$15,000$25,000
40$39$73$108$177
50$20$38$57$95
60$29$57$85$140
65$35$68$102$169
70$44$88$131$218
75$63$124$186$308
80 $89 $175 $262$435

Guaranteed Acceptance For Females Ages 40 – 80

AGE$5,000$10,000$15,000$25,000
40$31$57$83$136
50$15$28$42$69
60$24$45$67$110
65$28$55$81$133
70$35$69$103$171
75$46$90$135$224
80 $69 $135 $202$335

What you need to know about Guaranteed Issue Life Insurance

Guaranteed issue life insurance is a type of policy that is usually a whole life insurance policy. GI life insurance comes with a graded death benefit – which is a fancy way of saying “there’s a waiting period before the policy will pay out.”

Guaranteed acceptance plans are whole life policies that builds cash value over time just like traditional whole life policies. Your guaranteed life insurance policy lasts as long as you pay your premiums. Death benefits are smaller compared to other types of life insurance. Guaranteed life insurance has a $25,000 death benefit maximum with most carriers.

What's the difference between Guaranteed Issue & Guaranteed Acceptance?

There is no difference. Life insurance can quickly get confusing and one of the biggest head scratchers is how products are named. Sometimes certain products have different names…but mean the same thing. The same goes for Guaranteed Issue Life Insurance. 

The names below all refer to the same product called Guaranteed Issue Life Insurance:

  • Guaranteed life insurance
  • Guaranteed acceptance life insurance
  • Guaranteed whole life insurance
  • Guaranteed issue whole life insurance
  • Guaranteed issue term life insurance
  • Guaranteed issue burial insurance
  • Guaranteed issue funeral insurance
  • Guaranteed issue final expense
  • Guaranteed issue policy
  • No medical questions life insurance
  • Guaranteed final expense insurance
  • Guaranteed issue final expense insurance
  • Guaranteed issue final expense life insurance
  • Guaranteed acceptance term life insurance
  • Guaranteed life insurance acceptance
  • GI life insurance policy
  • No questions burial insurance
  • No questions funeral insurance

Guaranteed Issue Life Insurance Tips

The first question you should be asking yourself is, “Should I buy a Guaranteed Acceptance life insurance policy?

Should You Buy Guaranteed Acceptance Life Insurance?

Not unless there are no other options available! Guaranteed issue insurance is way more expensive expensive compared to other Final Expense policies.  Even though a guaranteed issue policy is very simple to buy, we only recommend it if you can’t get a Final Expense policy with a Level Death Benefit.

Let’s look at our infographic below: You can see that Guaranteed Issue is the last resort option!

guaranteed acceptance life insurance policies

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It’s all about qualifying!

Even if you’re considered “unhealthy”, there’s a good chance that at least 1 company can provide you Level Coverage. That means that you won’t have the 2 year waiting period that a Guaranteed Issue policy requires.

Here’s what you need to know…

There are a few medical issues that may keep you from getting Level Coverage with a fully underwritten or simplified issue life insurance policy. You’ll want to focus on buying a guaranteed acceptance life insurance policy with the following conditions:

  • Anyone on dialysis
  • Anyone with cognitive impairments
  • Anyone restricted to a wheelchair
  • Anyone in a nursing home
  • Anyone with cancer, HIV, or kidney disease. Especially if diagnosed within the past 24 months.

Final thoughts

There you have it, our Top 5 Guaranteed Issue life insurance companies and tips. Please make sure that a GI policy isn’t your 1st choice. They’re more expensive and there’s a waiting period before the death benefit pays.

No two people are alike and you need to shop around with the help of an independent agent who can find you the best deal and coverage. At Life Insurance Blog, we’ll help you find the one that will work best for you and your family.

Remember, don’t assume that it will be impossible to get coverage with your particular condition. If you were denied by one company that doesn’t mean you’re uninsurable. It just means that one company denied you. Underwriting rules are different from each and every company.

Please contact us if you have any questions. We use over 60 carriers for our clients in order to give them every chance at affordable coverage with the best policy available.

If you’re not sure where to begin, give us a call. Our agents provide a free, no-pressure, educational approach to life insurance. We’ll compare dozens of the top companies in minutes to show you your most affordable options. Toll Free: (888) 411-1329

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Michael Quinn LIB

About Michael Quinn

Michael Quinn is the cofounder of Life Insurance Blog and a multi-state licensed life insurance agent. LIB has helped thousands of people understand life insurance and secure affordable coverage.

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