Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Written by Jeffrey Manola
Founder & Licensed Agent Jeffrey Manola

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Apr 13, 2022

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  • Guaranteed issue life insurance is typically available for adults 50 to 80 years old, but some companies offer a greater age range
  • The application process for guaranteed issue life insurance is faster and easier than traditional life insurance policies
  • Compared to term life insurance policies, guaranteed issue life insurance policies offer lower coverage amounts

The best guaranteed issue life insurance companies offer affordable and robust coverage. Guaranteed issue policies offer fast coverage to applicants that may not find it elsewhere.

Finding a competitive life insurance policy shouldn’t be a challenge. Our top guaranteed issue life insurance companies offer flexible coverage amounts to a wide range of adults.

What is a guaranteed issue life insurance policy?

Guaranteed issue life insurance is a policy option that offers guaranteed coverage, regardless of an applicant’s health status. These policies provide coverage with no medical exam and an accelerated underwriting process.

Compared to a traditional life insurance policy, a guaranteed issue policy typically offers a lower potential death benefit. Many guaranteed issue life insurance companies cap death benefits at $25,000, though there are some outliers.

In addition to a reduced coverage amount, the death benefit is typically “graded.” In short, this means that the death benefit is only partially available for the first two or three years, typically the amount you paid into the policy plus 10% interest.

Beyond limitations in coverage amount, guaranteed issue life insurance policies also tend to have unique eligibility restrictions by age. The standard age range is from 50 to 85, with some exceptions. 

Overall, guaranteed issue life insurance can be helpful to those denied traditional life insurance coverage due to underlying health concerns. These policies are easier to get but may come at a cost.

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How much does guaranteed life insurance cost?

Like all life insurance policies, rates are subject to change from person to person based on age and gender. Of course, the amount of coverage and the company you buy from are also critical factors.

Suppose you have significant health concerns and need to rely on a guaranteed issue life insurance policy. In that case, you’ll want to determine how much coverage you need and compare rates from multiple life insurance companies.

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Remember that these policies are for covering small debts and funeral expenses. According to the National Funeral Directors Association, the median funeral expense was $7,848 in 2021. Your coverage should exceed your funeral costs.

Below, you can see how rates compare from our top guaranteed issue life insurance companies for $10,000 in coverage.

Sample Guaranteed Issue Life Insurance Rates for $10,000 in Coverage (Males)
AgeAIGFidelityGerberGreat WesternKemper
50$51.92$55.28$44.09$59.58$75.74
55$56.90$64.48$57.93$64.58$84.74
60$63.17$73.92$63.89$75.42$93.31
65$84.15$88.08$85.16$92.08$109.17
70$98.18$111.00$99.18$119.58$124.98
75$138.55$161.00$139.52$158.75$145.80
80$246.44$225.00$247.32$227.92$196.13
85$315.82N/AN/AN/AN/A
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As shown above, rates can increase quickly with age; an 80-year-old policyholder can expect to pay about five or six times more per month than someone 50. You can also see how rates vary from one company to another.

For example, Gerber offers some of the most affordable rates for those under 80 but is the most expensive option. You should always get quotes from multiple life insurance companies to get the best rates.

Best Guaranteed Issue Life Insurance Companies

Most life insurance companies specialize in a specific policy type. After reviewing policy features, prices, and availability, we’ve broken down the best guaranteed issue life insurance companies below:

  • AIG
  • Fidelity
  • Gerber Life
  • Great Western
  • Kemper

The companies above have robust policy features that can benefit most prospective policyholders. Below, you’ll find a general overview of each company’s policy options.

Comparison of the Best Guaranteed Issue Life Insurance Companies
CompanyA.M. Best RatingIssue AgesMinimum CoverageMaximum CoverageFull Benefit Payout
AIGA50-85$5,000 $25,000 After 2 years
FidelityA-50-85$5,000 $20,000 After 3 years
Gerber LifeA50-80$5,000 $25,000 After 2 years
Great WesternA-40-80$1,000 $40,000 After 2 years
Kemper LifeA-40-80$2,000 $25,000 After 2 years
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The overview above shows how each company has unique coverage options. In the forthcoming sections, you’ll get a more detailed overview of each individual guaranteed issue life insurance company.

AIG Guaranteed Issue

A.M. Best Rating: A, or excellent

Policy Name: Guaranteed Issue Whole Life Insurance

Minimum Coverage Amount: $5,000

Maximum Coverage Amount: $25,000

Issue Ages: 50-85

Pros:

  • Standard coverage amounts
  • Complementary living benefit options
  • Available in most states, excluding New York

Cons:

  • The death benefit isn’t fully available for two years.
  • Slightly more expensive for those over 75

Learn more about policy options in our AIG Life Insurance Company Review.

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Fidelity Guaranteed Issue

A.M. Best Rating: A, or excellent

Policy Name: Rapid Decision Guaranteed Issue Whole Life

Minimum Coverage Amount: $5,000

Maximum Coverage Amount: $20,000

Issue Ages: 50-85

Pros:

  • Complementary living benefit options
  • Available in most states, excluding New York and Wyoming
  • Affordable for most ages

Cons:

  • The death benefit isn’t fully available for three years.
  • Slightly longer approval period
  • Coverage caps at $20,000.

Learn more about policy options in our Fidelity Life Insurance Review.

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Gerber Guaranteed Issue

A.M. Best Rating: A, or excellent

Policy Name: Gerber Guaranteed Life

Minimum Coverage Amount: $5,000

Maximum Coverage Amount: $25,000

Issue Ages: 50-80

Pros:

  • Standard coverage amounts
  • Available in most states, excluding Montana
  • More affordable for those under 75

Cons:

  • The death benefit isn’t fully available for two years.
  • Slightly longer approval period
  • Slightly smaller age range eligible

Gerber might be best known for its baby formula, but it also offers competitive life insurance products.

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Great Western Guaranteed Issue

A.M. Best Rating: A, or excellent

Policy Name: Guaranteed Assurance Whole Life Insurance

Minimum Coverage Amount: $1,000

Maximum Coverage Amount: $40,000

Issue Ages: 40-80

Pros:

  • Flexible coverage range
  • Extensive range of eligible ages
  • Complementary and affordable policy riders

Cons:

  • The death benefit isn’t fully available for three years.
  • Slightly longer approval period
  • Unavailable in several areas, including in Alaska, Connecticut, Delaware, Washington, D.C., Hawaii, Maine, New Mexico, New York, and Vermont

Learn more about policy options in our Great Western Life Insurance Review.

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Kemper Guaranteed Issue

A.M. Best Rating: A-, or excellent

Policy Name: Senior Solutions Guaranteed Issue

Minimum Coverage Amount: $2,000

Maximum Coverage Amount: $25,000

Issue Ages: 40-80

Pros:

  • Flexible coverage range
  • Large range of eligible ages
  • Available in most states, except California, New York, and Rhode Island

Cons:

  • The death benefit isn’t fully available for three years.
  • Slightly longer approval period
  • Somewhat overpriced for those under 70

Kemper Life & Health Group is one of many Kemper Corporation branches specializing in insurance products.

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Buying Guaranteed Issue Life Insurance

Guaranteed issue life insurance isn’t for everyone. Realistically, healthy adults would benefit from a conventional policy type, even if you must take a medical exam, helping you qualify for greater coverage at a lower price.

If you’re in fair health and don’t need coverage exceeding $25,000, you could also compare guaranteed issue life insurance policies with similar burial insurance policies. Each policy type yields a modest death benefit but you may find some differences in price between the two.

Generally, guaranteed issue life insurance is best for older adults with underlying health concerns. Younger adults and healthy older adults might want to invest in other policy options.

Best Guaranteed Issue Life Insurance: The Bottom Line

Guaranteed issue life insurance offers convenience to those who wouldn’t typically qualify for life insurance coverage. These policies provide guaranteed coverage but modest coverage amounts and some age restrictions.

Adults 50 and over qualify for guaranteed issue life insurance coverage in most cases. The best guaranteed issue life insurance companies offer adequate and affordable coverage.