Guaranteed acceptance life insurance is a form of insurance that may be issued to anyone regardless of health or other related circumstances as long as they fall within the age guidelines. Generally speaking, this type of life insurance is for those from 60 to 90 years old and many policies have locked in premiums that do not go up over time.
Did You Check Out Our Life Insurance Quote Comparison Tool? Save BIG!
Although this is not one of the least expensive life policies, it is worth it in certain circumstances. To learn more about the benefits and requirements of guaranteed accepted life insurance click here.
Here are some of the more popular companies that carry guaranteed issue life insurance.
List of Guaranteed Acceptance Life Insurance Companies in the USA:
A popular company that has promoted this type of life insurance heavily in the past several years, they offer a comprehensive and straightforward policy. However, Colonial Penn does not offer guaranteed acceptance in the states of Massachusetts and Washington.
Policy Features: As with this type of policy, you cannot be turned down because of your health condition which is one of key factors when it comes to life insurance. However, there is a two year period in which the benefits will be limited unless in case of accidental death. Once accepted, you cannot be denied the policy and it will remain in-force as long as you pay the premiums on time.
Premiums & Rates: You can choose to pay the premiums monthly, quarterly or annually. If you pay on an annual basis, you can actually save money compared to quarterly or monthly. Plus, the premiums and rates will never change as long as you make your payments on time.
Your premiums, rates and coverage amount will depend on the free quote that Colonial Penn provides to each customer that fills out a short questionnaire, so all of these factors are individual to the specific customer. However, the younger you are, the better the rates and premiums will be.
Called “Final Expense Whole Life Insurance”, the policy offered by Met Life is designed to cover burial, credit card and funeral expenses if you should pass away unexpectedly. Anyone from 45 to 75 will be accepted no matter their condition of health.
Policy Features: As typical with most policies of this type, there is a limited death benefit for the first two years. However, the benefits themselves can be paid to any qualified beneficiary.
Premiums & Rates: Depending on your age and gender, you can find rates as low at $10 per month for a $2,500 policy designed for a 45 year old woman up to $326 per month for a $20,000 policy designed for a 75 year old male.
Mutual of Omaha:
This venerable company offers a wide range of insurance plans, including guaranteed issue life insurance.
Policy Features: You must be from 45 to 85 years old to qualify. The policy itself has locked in rates and benefits that will never be changed. Your spouse may be included as part of the guaranteed option, plus this whole life policy will build in cash value over time that you may borrow against. The benefits will be paid to a loved one who can use the money as they see fit.
Premiums & Rates: This whole life policy can be purchased with up to $25,000 in benefits. The premiums and rates will be dictated by your age and gender along with the amount of the benefits themselves.
New York Life:
Few insurance companies match the longevity or reputation of New York Life when it comes to a wide range of policies. This includes guaranteed acceptance insurance which offers good flexibility and affordable rates.
Policy Features: The benefits range from $2,000 up to $15,000 and is available in most states. The average age range for acceptance is from 50 to 80 years old. However, once you obtain the policy and keep up your payments it will last until you are 95 years old and beyond with no more payments due.
Premiums & Rates: This will be determined by your age and gender which range from an 80 year old man with $15,000 in benefits paying $177.84 per month down to a 50 year old woman with $2,000 paying $10.05 per month. There are many rates that are in-between that you can review on their website.
New York Life AARP:
Teamed up with AARP, both companies have produced a policy that provides excellent rates and benefits for your needs. AARP has enjoyed immense popularity for providing excellent services for seniors since their inception and life insurance is no exception.
Policy Features: Similar to standard New York Life policies, except here AARP members from 50 to 80 and their spouses from 45 to 80 are accepted. There are limited benefits the first two years, but the premiums will never go up.
Premiums & Rates: Like New York Life, the policies range from $2,000 up to $15,000 with rates starting at $8.38 per month for a 45 year old woman up to $157.25 per month for an 80 year old male. If you keep paying on the policy until you are 95 years old, you will still retain full coverage, but will not be charged for the remainder of your life.
Gerber Life Insurance Company:
While many people associate Gerber with baby food, they offer a number of excellent services including guaranteed life policies. This venerable company has established itself as one of the most trusted in the US.
Policy Features: Both men and women from 50 to 80 may apply for the policy and cannot be turned down due to health considerations.
Premiums & Rates: You can obtain benefits that range from $5,000 up to $20,000 with premium rates that are determined by your age and gender when entered into the short form questionnaire that will then produce an individual monthly premium for you based on the benefits.
Triple A may be known for their auto assistance program, but they also offer exceptional insurance policies that include guaranteed assistance.
Policy Features: This policy is available for those from 45 up to 85 years old and is fully guaranteed. As with most similar policies, it builds cash value over time and the benefits may actually double as travel insurance as well. Plus, your spouse gets a free AAA membership to boot.
Premiums & Rates: Policies exist from $5,000 up to $20,000 in benefits and the premiums will depend on the age and gender of the policy holder.
These are just a few of the guaranteed acceptance life insurance companies that offer this remarkable policy. You can get a free quote simply by entering a little information so that you can decide which one is best for your needs.
Secure Senior Life Insurance helped thousands of customers already to find their desired policy, just apply for quotes and we’ll show the best price.
Note: The rate and features are subject to change anytime according to company policy, check out their websites for current rate.