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Guaranteed life insurance is a whole life policy, meaning it offers coverage for your entire lifetime. When you do pass away, your beneficiaries can begin the death benefit claim process to help ...
Guaranteed whole life insurance: These policies provide a guaranteed death benefit and cash value accumulation with fixed premiums. Guaranteed policies do not require you to undergo a medical exam ...
Guaranteed acceptance life insurance, also known as guaranteed issue or final expense insurance, does not require a medical exam or health questionnaire. This type of policy is designed for older ...
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1]
These policies are often low face value whole life insurance policies, allowing individuals (ages 50-90) to purchase affordable insurance later in life. These may also be marketed as final expense insurance or burial insurance and usually have death benefits between $1,000 and $50,000.
Such policies offer the advantage of guaranteed level premiums throughout the insured's lifetime at a substantially lower premium cost than an equivalent whole life policy at first. The cost of insurance always increases, as is found on the cost index table (usually p. 3 of a contract).
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