When you are within the allowed age range. To put it another way, they promise to accept you as a policyholder. The typical age range for eligibility is 50 to 80.
Some insurance companies may still allow you to obtain a guaranteed issue policy if you fall outside of this age range; however, you will have fewer options.
Insurance companies target this age group with guaranteed issue policies because of the age requirements and the absence of medical underwriting (health questions).
However, in addition to guaranteed issue life insurance, many people in this age group, even those with health issues, have other options. This kind of insurance is best for people who don’t have any other options because of their health or who can’t afford them.
What conditions prevent you from getting any other kind of health insurance? fewer than you might think.
Your life expectancy is less than two years due to a terminal illness.
You’ve had an organ or tissue transplant or need one.
Dialysis is what you do.
You have dementia or Alzheimer’s disease.
You are in hospice or a nursing home.
You have cancer, but it is not skin cancer with basal or squamous cells.
HIV or AIDS are in you.
Due to a chronic condition or diseases, you are confined to a wheelchair.
You probably already know what it’s like to have one or more of these conditions in an elderly parent or grandparent. They experience both good and bad days. They appear to be doing much better than they have in a long time when you think they are about to die. Their mental health, physical abilities, and health can all appear to be very unstable. This level of instability is too risky for most insurance companies, but some specialize in taking on it.
