Over the past 20+ years I’ve had a lot of people, mostly seniors, inquiring about small insurance policies to pay for final expenses.
Many wanted $10,000 to $20,000 policies and even though most of the best companies at these low amounts make it relatively easy to qualify for coverage, some of these seniors or other people couldn’t qualify for the better final expense rates from companies like Lafayette Life, Foresters, Americo, American Continental and others due to having more serious health issues.
So I’ve looked at the best guaranteed acceptance policies/rates that require no health questions to be answered and no medical exam to qualify for lots of men and women at various ages and amounts of life insurance.
I’ve looked at the AARP rates from New York Life, rates from Vantis Life, Gerber Life, Kemper, Equitable Life and Casualty, United Home Life/United Farm Family, Colonial Penn, Fidelity Life and Mutual of Omaha.
As of right now, Mutual of Omaha has the absolute best rates for guaranteed issue or guaranteed acceptance whole life insurance!
I have not seen one case for which they’ve been beat by ANY other companies when it comes to price on guaranteed acceptance whole life insurance.
Even though I am licensed with and do business with Mutual of Omaha, unfortunately for me and other independent agents and brokers that do offer guaranteed acceptance life insurance, we cannot sell this product from Mutual of Omaha as it is sold directly to the public by Mutual of Omaha.
My purpose for doing this post is to help save you time from having to research different rates and products for this type of coverage as I have already done the research.
Without a doubt, Mutual of Omaha has best price for this guaranteed issue whole life insurance and they’re a great and financially strong insurance company.
Here is a link to Mutual of Omaha’s site where you can get quotes and apply: http://www.mutualofomaha.com/life-insurance/get-coverage
To qualify for the Mutual of Omaha guaranteed issue policy, you must be age 45 to 85 and $25,000 is the maximum amount they’ll offer to any one person.
Keep in mind that all guaranteed issue life insurance is for graded benefit coverage. Graded benefit means that for death in the first 2 policy years which is caused by any disease or illness, your beneficiary will only get back the premiums that were paid into the policy plus interest.
If you need or want more than $25,000 of guaranteed acceptance insurance, you can always apply for a second or third guaranteed issue policy from different insurance companies.
IMPORTANT: Guaranteed acceptance life insurance is NOT the ideal type of life insurance for anyone because of the graded benefit offered in first 2 policy years, so don’t just assume that you cannot qualify for “regular” coverage that will pay out full life insurance amount right away for death by any cause.
DO NOT buy guaranteed acceptance life insurance if you can qualify for “regular” life insurance that will pay out full life insurance amount right away for death by ANY cause.
Just because you have diabetes, heart disease or past cancer or even if you’ve already been declined for a life insurance policy, this does not mean that guaranteed acceptance is the only type of life insurance available to you.
I’ve been able to help thousands of people with serious health issues to get life insurance at the best rate and for best product that fit their needs, and I’d need to verify if any of the 121+ different insurance companies I can offer may offer you “regular” coverage.
Only after you’ve exhausted every option to get “regular” life insurance should you consider guaranteed acceptance life insurance.
Call me at 1-800-380-3533 or email me at firstname.lastname@example.org if I can help you. If you call, just ask for G3 so you get the right Gordon.