A type of whole life insurance with flat premiums that guarantees a small death benefit—typically $35,000 or less—is known as guaranteed issue life insurance.
Anyone can purchase a policy as long as they meet the age requirements (typically, you must be at least 45 years old).
There are no health questions to answer or medical exams to take. Because of this, guaranteed issue life insurance costs a lot more than simplified issue life insurance, which only requires you to answer a few questions about your health.
Concentrate on businesses that earned an A or higher from AM Best, preferably an A+ or A++. This will assist in ensuring the long-term financial stability of the company you select.
The next step is to choose the businesses that provide the kind of life insurance, benefit amount, and customization options you want.
If you only require temporary coverage during a time of financial obligation, but you want the most coverage for the lowest premium, consider purchasing term life insurance.
If you want to leave money to your family or need permanent coverage, buy permanent life insurance.
