Guaranteed Life Insurance
Guaranteed Life Insurance is an insurance that guarantees your acceptance. Often referred to as Guaranteed Issue or Guaranteed Acceptance Life. There are only a few questions on these applications. They often do not request a medical exam and have no required health questions.
Those with medical conditions or health problems can buy guaranteed life insurance. The stress of the medical tests, medical or health questions is not necessary. These policies are generally issued within days or weeks instead of months. Some standard policies may take months.
The guaranteed life insurance policies will cost more than standard policies. They also will tend to be for a lower amount of insurance. In some cases they may also be a deferred life insurance. This means they may state that the full amount of insurance is only available after 2 years. If death were to occur in the first two years, the full amount would not get paid. Instead, the amount paid is a refund of the premiums plus a predetermined amount of interest.
Deferred life insurance is best when no other options are available. It may be useful to add extra insurance to cover the cost of a funeral but would not be ideal as creditor insurance.
There are many insurance options including:
term life insurance
whole life insurance
simplified life insurance
guaranteed life insurance
permanent life insurance
universal life insurance
accidental death insurance
hospital cash insurance
Many do not understand these insurance products. We understand these insurance products and represent these top Canadian insurance companies:
Canada Protection Plan
La Capitale Financial Group
Medavie Blue Cross
SSQ Financial Group
With our understanding of the various insurance products and representing many companies you benefit.