Guaranteed Issue Life Insurance

Guaranteed Issue Life Insurance

Many different types of life insurance are available throughout Canada and through a variety of different companies. Some people may not be able to qualify for traditional life insurance, so they need to find a policy that they can get. Guaranteed issue life insurance can be a great option for many people. However, it’s not always the right fit for all people. To know if this type of insurance is the best choice for you, it helps to learn more about it so you can see the pros and cons.

What is this type of insurance?

As the name suggests, guaranteed issue life insurance is guaranteed to the person who applies, no matter if they have poor health or a preexisting condition. They will have approval of their policy and it generally only takes a few days to get the insurance. When you choose this type of insurance policy, you don’t have to answer any questions about your medical history. You don’t have to take an exam either. This makes the process of getting your insurance faster.


For those who have preexisting conditions and are having trouble finding approval, this is simply the best way to get the insurance you need. Unlike simplified issue life insurance, you don’t have to wait 2 years after being turned down by a traditional life insurance company. It’s refreshing to know that you can still have coverage no matter your health problems.


This might sound like a great plan for everyone, but if you are healthy enough to qualify for other life insurance, it’s a much better idea that you do. The guaranteed issue life insurance policy is going to be more expensive than a traditional life insurance policy. You will also discover that they aren’t going to pay out as much. The payouts will rarely go above $25,000. The companies that offer this type of insurance have to do this because of the risks they are taking by not requiring the medical questionnaire or the medical exam.


If you are someone who has decided that a guaranteed issue life insurance policy is the right choice, make sure you have a broker that will be able to help you find a great company through which you can buy the policy. He or she should be able to go over all of the pros and cons of this type of policy to make sure that it is the best decision.


Please feel free to contact Aman Kapur at or by phone 1-416-509-2540 to assist with the plan of your choice. Or simply click here to request a quote.

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