Medical Free and Guaranteed Issue Life Insurance

Medical Free & Guaranteed Issue Life Insurance

You see these two types of life insurance policies advertised on TV all the time. And while they may look the same to the typical consumer, they are quite different. Allow me to explain.

Medical Free Life Insurance

As the name implies, this type of life insurance does not require a medical exam prior to approval. BUT, the insurer will still ask you some questions or to fill in a medical questionnaire.

But if you answer YES to any of their questions (i.e. if you’ve had cancer in the last 10 years), they can alter the contract. Usually they will increase your premiums or turn it into a “deferred policy” by attaching a condition to the policy stating that no benefits will be paid if you die within the first 2 years of the contract (note that this restriction might not apply if you die accidentally).

Key Advantages

Almost anyone can qualify for coverage

No medical tests or blood work required


More expensive than fully underwritten policies

Limited coverage options and amounts

If you’re not sure whether your conditions will be covered, please contact us by chat, phone or email. We’ll be happy to help.

Warning: if you lie when applying for insurance, the policy can be cancelled retroactively (on the policy start date).

Guaranteed Issue / Acceptance insurance

These policies are designed for people who do not qualify for Medical Free Life insurance. With a Guaranteed Issue policy, the insurer will automatically issue the policy once the first premium has been paid – no questions asked.

Warning: if the insured dies within the first 2 years of policy issuance all premiums will be refunded and no benefits will be paid

Key Advantages

Almost anyone can qualify

No medical testing, blood work or medical questionnaires required


Significantly more expensive than a fully underwritten policy

More expensive than med-free life insurance

Coverage is usually limited to $25,000 and must be purchased in $5,000 increments

Coverage is deferred for the first 2 years

These policies are often marketed on TV as being used to cover final funeral expenses.

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