Should You Buy Guaranteed Issue Life Insurance?
Guaranteed issue life insurance is attractive to impaired or high risk shoppers because the company doesn’t ask you any health questions. The coverage amount increases over time.
Graded life insurance is not for people who:
Are looking for cheap coverage
Want a full death benefit immediately
Are past age 80
Guaranteed issue life insurance is for people who:
Have serious health problems
Don't want any medical exams or questions
Didn't get enough life coverage when they were healthy
Want a fixed premium
Want to provide their heirs a partial benefit
Want insurance where they can't be turned down