Guaranteed Issue Life Insurance
Guaranteed Issue Whole Life Insurance Without Any Health Questions or Medical Exam
Guaranteed Issue Whole Life Insurance from American General Life Insurance Company is a simple and affordable guaranteed issue life insurance policy designed to cover expenses like medical bills, credit card debt or funeral costs, and can help protect your loved ones from future financial burdens.
Guaranteed Issue, Permanent Protection - Simple and affordable, benefit-packed life insurance that can help you with your final expenses.
Guaranteed Issue Whole Life (GIWL) is designed to provide you with comfort and peace-of-mind for just a few dollars a day. Plus, it includes benefits typically available only in more expensive policies. Best of all, acceptance is guaranteed. From application to policy issue, the process is simple, short and pain-free! If you're age 50-80, with Guaranteed Issue Whole Life Insurance, sometimes referred to as Guaranteed Acceptance Whole Life Insurance, you can't be turned down for health reasons, and you can receive a permanent, guaranteed issue life insurance policy without having to qualify for coverage based on your health. The benefits from this guaranteed acceptance life insurance can lend a helping hand for your loved ones during a difficult time.
Guaranteed Issue, No Questions Life insurance Coverage
Guaranteed Acceptance Life Insurance
Permanent protection that lasts you a lifetime - You are automatically qualified and we guarantee that we won't turn you down.
No Medical Exam Required
This guaranteed issue life insurance product requires NO medical exams or health questions that can cause traditional life insurance costs to skyrocket.
Up to $25,000* in Life Insurance Coverage
Get a guaranteed issue life insurance policy starting with coverages from $5,000 all the way up to $25,000.
Living Benefits are Included - at NO EXTRA COST
Chronic Illness - This benefit returns all of the premiums paid and is triggered when the insured cannot perform at least 2 of the 6 "activities of daily living" (bathing, continence, dressing, eating, toileting, transferring) or is diagnosed with a severe cognitive impairment like Alzheimer’s or dementia.
Terminal Illness - This benefit provides 50% of the applicable death benefit at the time of acceleration. Terminal Illnesses are illnesses or physical conditions that are certified by a physician to be reasonably expected to result in the insured's death within 24 months from the date of certification.
Guaranteed Level Life Insurance Payments
Premiums for our guaranteed acceptance life insurance policies are level (or fixed premiums) and are guaranteed not to increase during the life of the policy.
Life Insurance Developed for Seniors (Ages 50-80)
Guaranteed Issue Whole Life Insurance was built for affordability with lifetime protection that is both practical and versatile.
What is the Difference Between Whole Life Insurance and Guaranteed Issue Whole Life Insurance?
Many people wonder what the difference is between traditional Whole Life Insurance and Guaranteed Whole Life Insurance. It can help to compare the two types of whole life insurance to determine which type of life insurance is best for your particular situation. Whole life insurance is a type of permanent life insurance coverage that provides a guaranteed death benefit along with guaranteed** cash values. Part of each premium payment is applied to the policy's cash value account, which grows on a tax-deferred basis (based on current federal tax laws). Learn more about traditional whole life insurance here.
What is Graded Death Benefit Life Insurance?
With some guaranteed life insurance policies, like Guaranteed Issue Whole Life Insurance from American General Life, they provide what is known as a graded death benefit. Within the first two years of policy issuance, if a natural death occurs, the benefit can range from 110%-120% of the actual premium paid. If an accidental death occurs, the benefit will be the face amount of the policy. And after the two years, the benefit will be the full face amount of the policy. This graded benefit guaranteed whole life insurance product may be an option for people who want the protection of permanent life insurance coverage, but due to possible health concerns may not qualify for any other permanent life insurance plan. If you have further questions, it is best to speak with an agent.
Important Consumer Disclosures Regarding Accelerated Benefit Riders
An Accelerated Death Benefit Rider (ABR) is not a replacement for Long Term Care Insurance (LTCI). It is a life insurance benefit that gives you the option to accelerate some of the death benefit in the event the insured meets the criteria for a qualifying event described in the policy. The rider does not provide long-term care insurance subject to California insurance law, is not a California Partnership for Long-Term Care program policy. The policy is not a Medicare supplement.
ABRs and LTCI provide different types of benefits. An ABR allows the insured to access a portion of the life insurance policy’s death benefit while living. ABR payments are unrestricted and may be used for any purpose. LTCI provides reimbursement for necessary care received due to the inability to perform activities of daily living or cognitive impairment. LTCI coverage may include reimbursement for the cost of a nursing home, assisted living, home health care, homemaker services, adult day care, hospice services or respite care for the primary caretaker and the benefits may be conditioned on certain requirements or meeting an elimination period or limited by type of service, the number of days or a maximum dollar limit. Some ABRs and all LTCI are conditioned upon the insured not being able to perform two or more of the activities of daily living or being cognitively impaired.
This ABR pays proceeds that are intended to qualify for favorable tax treatment under section 101(g) of the Internal Revenue Code. The federal, state, or local tax consequences resulting from payment of an ABR will depend on the specific facts and circumstances, and consequently advice and guidance should be obtained from a personal tax advisor prior to the receipt of any payments. ABR payments may affect eligibility for, or amounts of, Medicaid or other benefits provided by federal, state, or local government. Death benefits and policy values, such as cash values, premium payments and cost of insurance charges if applicable, will be reduced if an ABR payment is made. ABR payments may be limited by the contract or by outstanding policy loans.
* The total amount of all American General Life Insurance Company Guaranteed Issue Whole Life Insurance policies on any person cannot exceed $25,000 in the aggregate. Must be between the ages of 50 and 80 to apply. Policies issued by AGL in all states except NY and ME, Policy #: 15532, ICC15-15532. AGL is not licensed to do business in New York. In PA this product is offered through online sales only.
** Guarantees are subject to the claims-paying ability of the issuing insurance company.