What is Guaranteed Issue Whole Life Insurance?
Guaranteed Issue Whole Life Insurance is a simple and permanent life insurance option. You can get up to $25,000 in coverage that can help your family members pay for unforeseen cost such as funeral and burial expenses, unpaid medical bills, co-signed credit card debt, and other financial burdens.
No medical exams or health questions are required to apply. If you are between the ages of 50 and 85, your acceptance is 100% guaranteed.
Coverage is affordable for most. A 55-year-old female can get $5,000 in guaranteed coverage for $20.93 per month.
- Premiums do not increase.
- Coverage does not decrease.
- Guaranteed acceptance.
Added protections: Two living benefits are included with your policy at no additional cost.
- Chronic Illness Benefit – If you cannot perform certain activities of daily living or if you are diagnosed with a severe cognitive impairment, American General Life Insurance Company will return all of your premiums paid up to 50% of the policies ultimate face amount less any policy loan balance and an administrative fee.
- Terminal Illness Benefit – If you are diagnosed with a terminal illness, American General Life Insurance Company will provide 50% of your death benefit amount while you are alive less any policy loan balance and an administrative fee.
Guaranteed Issue Whole Life Insurance includes a graded death benefit for the first two years. If death occurs during the first two policy years and is not accidental, American General Life Insurance Company will pay 110% of all premiums paid to date. If an accidental death occurs at any time, the full death benefit will be paid.
This policy has exclusions, limitations, and a reduction of life insurance benefits in the first two policy years. For costs and complete details of the coverage call or write your insurance agent or the company.