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Guaranteed Issue Life Insurance is a type of whole life insurance policy where applicants are accepted without the need for a medical exam or health questions. This means that if you meet the basic age and residency criteria, you’re guaranteed to be accepted for coverage, making it a good option for those with serious or life-threatening health conditions that may make other forms of life insurance difficult to obtain.
With a guaranteed issue life insurance policy, you pay premiums in exchange for a death benefit that will be paid to your beneficiaries when you pass away. Because you don’t need to provide medical information, the application process is quick and easy. However, the premiums are often higher than other types of life insurance, and coverage amounts are typically lower.
Guaranteed issue life insurance is an affordable, easy-to-get option that helps cover the costs of funeral expenses. Unlike traditional life insurance, it’s simpler to qualify for and doesn’t require a medical exam. With 23% of Canadians not financially prepared for funeral costs, this policy offers a tax-free lump sum to your beneficiary to help cover those expenses. It’s available for individuals ages 18-75, giving you peace of mind knowing your family won’t face unexpected financial burdens.
If you’re looking for affordable life insurance or just starting out, Guaranteed Issue Life Insurance is a great choice to protect your loved ones without high premiums.
Getting Guaranteed Issue Life Insurance is simple. Follow these four easy steps:
Submit the required details online – no medical exams or health questions are needed to qualify.
Quick, simple, and reliable life insurance to protect your loved ones.
98% of applicants approved
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Once approved, your coverage begins immediately, ensuring instant protection for you and your loved ones.
Guaranteed acceptance without any health screenings or questions.
As long as premiums are paid, the policy lasts for the insured’s lifetime.
Straightforward application, ideal for those seeking a quick, simple solution.
Lifetime Coverage is guaranteed with regardless of the age or health history.
Offered at no extra cost, these benefits provide financial support during terminal illness and cover transportation expenses if death occurs away from the insured’s residence.
If diagnosed with a terminal illness (life expectancy ≤2 years), the owner gets 75% of coverage (max $250,000) as an early benefit. Full premiums apply, and the payout is reduced. Excludes self-harm cases, requires diagnosis after two years, and may need beneficiary consent.
If the insured person passes away more than 200 kilometers from their home, this benefit covers transportation costs at $2 per kilometer, up to a maximum of $2,000. It ensures that their body or remains are safely returned to their place of residence for final arrangements and funeral preparations.
This benefit can be added to any of our permanent insurance plans and covers the insured person up to their 70th birthday, subject to the following limits:
1. Amount: The benefit will be the lesser of 1 time the coverage amount or $10,000, up to a maximum of 5 times the coverage amount or $250,000.
2. Eligibility: Available for people aged 18-65.
This benefit does not apply if the death is due to:
1. Suicide (whether sane or insane)
2. Assault or committing a crime
3. Drugs, poison, or infections (except in specific cases)
4. Driving while intoxicated or under the influence of illegal or unprescribed drugs.
The Accidental Death Benefit is payable if death results directly from an accident, and the injury causing the death occurs within 90 days of the accident and before the policy ends.
Understanding your policy’s coverage is essential to making the right choice. This plan offers guaranteed premiums, flexible coverage amounts, and clear death benefit terms, ensuring financial security for your loved ones with no surprises along the way.
| Issue Ages, Coverage, Benefit & Premium | |
|---|---|
| Issue ages | 18-75 |
| Face amounts | Ages 18-60: $10,000-$50,000 Ages 61-75: $5,000-$50,000 |
| Death limitations (in addition to typical suicide and misrepresentation clauses) | The full coverage amount is payable if death occurs after two years or death is accidental. If death occurs in the first two years and is due to non-accidental means, then the death benefit is limited to a return of premiums paid. |
| Guarantees | Premiums guaranteed not to change for the life of the policy |
Ready to get started with a Guaranteed Issue Life Insurance
policy? Our team can guide you through the application
process and help you choose the best coverage for your needs.
Generally, the death benefit from a guaranteed issue life insurance policy is tax-free. However, any cash value that accumulates may have tax implications if you withdraw or borrow against it. It’s important to consult a tax advisor to understand the specific tax impact of your policy.
Your insurance premiums are influenced by your age, the coverage amount you choose, and the pricing differences between various insurance providers.
Older applicants usually face higher premiums.
The more coverage you seek, the higher your premiums will be.
Rates can vary between different insurance providers, so it’s important to compare options.
Some parents opt to purchase guaranteed issue life insurance for their children, especially if they have concerns about future health issues. This guarantees the child coverage as they grow older, ensuring they won’t face difficulties obtaining life insurance due to any future health concerns.
Some guaranteed issue life insurance policies, particularly whole life versions, accumulate cash value over time. This means that as you continue to pay premiums, your policy may build value that you can borrow against. This feature makes guaranteed issue life insurance a good long-term option for those seeking both coverage and potential cash value growth.
This type of life insurance is particularly suited for individuals who:
Are older and may have trouble getting approved for traditional life insurance.
Have serious or life-threatening health conditions
that make them ineligible for standard life insurance policies.
Want a simple, quick life insurance solution to
cover final expenses, such as funeral costs, medical bills, or outstanding debts.
Fill out the form below, and our team will get back to you within one business day.
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