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Graded death benefits are a common feature of guaranteed life insurance companies to protect against severe illness.
Let's say you die within the first two to three years of your policy. Your beneficiary may receive a refund of your premiums and interest. The interest paid can vary from company to company, but could be anywhere between 10% and 30%. The policy will pay your beneficiaries the entire coverage amount if the death results from an accident such as a car accident.

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The application for guaranteed issue insurance does not require any medical exams or health questions. You will receive a small death benefit to help you and your family with funeral expenses or medical bills.

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Pre-existing medical conditions may not be covered by guaranteed issue life insurance. Although policies can vary between insurers, many policies will cover those with chronic illnesses. Find out more about what your options are if you have a preexisting condition.
A category of policies known as burial insurance includes guaranteed-issue life insurance. Permanent coverage is recommended for people between 45-80 years of age and those who are unable to qualify for standard life insurance policies due to severe medical conditions or terminal illness.

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Your application will be processed quickly once you have submitted it. There is no medical exam or any other reports that the insurer needs to review. When you sign and return the policy, and pay your first premium, your policy becomes effective. You can get assistance from a Policygenius agent.
Guaranteed-issue life insurance is a form of whole life insurance that allows you skip medical questions and undergo a physical exam. You might also hear it as guaranteed acceptance life insurance.

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Consider if your policy has a graduated benefit. In that case, you would die naturally within the first two year of your coverage. Your beneficiaries receive 110% of any premiums paid to the policy. Your heirs are entitled to a 100% refund in the event that you die by suicide or from an accident within the first 2 years. You would pay $100 for premiums. Your beneficiaries would get $100-$110 depending on the cause.
Both simplified and guaranteed issue life insurance options are available for burial insurance. For seniors or those who can't get any other type of life insurance, guaranteed insurance is the best option. Nearly everyone is accepted.

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Guaranteed life insurance plans generally have a waiting period before benefits take effect. It is rare to receive guaranteed life insurance without waiting periods. These policies usually function fully after two to three years.

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An application and a phone call are usually required in order to buy guaranteed-issue insurance. After you submit your application, an agent might contact you to confirm that you don't have any disqualifying conditions or that you are buying the right coverage.

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