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!

    guaranteed issue life insurance Quotes

    Ready to compare quotes from the top companies?

    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.

    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.

    Find out who has the lowest price

    Getting multiple quotes from the top companies is the first step to securing your future.

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    Once you’ve filled out the calculator, one of our licensed agents will  provide you all your options and plan out who will provide you the best rate based on your specific health and goals. All of the recommendations will be based off of the details you provide. It’s very important that you're honest and answer your agent's questions accurately. 
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    This is where we really begin working to figure out exactly which company will get you the best rate, and how to make it happen. There are literally hundreds of companies and thousands of policy options available. We'll make sure you get the best one based on what you'll qualify for.

    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.

    Michael Quinn

    Michael Quinn

    Michael is a licensed life insurance agent, expert & owner of Life Insurance Blog. LIB has helped thousands of shoppers understand life insurance and secure affordable coverage.
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    Michael Quinn
    Founder – Life Insurance Blog

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