The key benefits of a Guaranteed Whole Life Insurance policy are:
– Guaranteed acceptance with no medical questions and no health exams
– Benefit amounts typically up to $50,000.
– A fixed premium – your rate is permanently locked in.
– Cash value that builds and can be used for any reason during your lifetime
– Flexible payment options to fit your budget.
If you wish or need to avoid medical underwriting, then a Guaranteed Issue Whole Life policy is the right choice for you. Do keep in mind that you receive reduced death benefit during the first two years of your policy. For accidental deaths, full benefits are paid from the first day your policy is effective. A graded death benefit helps the insurance company offset risk and is industry standard for a guaranteed whole life policy.
