Guaranteed Approval Life insurance is a type of life insurance that  is mostly without reckoning despite the fact that it’s an essential aspect of financial planning.

The policy provides peace of mind for your people in the event of the happening of the unexpected. In this article, we will look at the “Guaranteed Approval Life Insurance”  and how it works.

Guaranteed Approval Life Insurance

As we already know, the conventional life insurance policy generally involves a medical examination and health inquiries.

However, Guaranteed Approval Life Insurance does not require a medical exam. It is a health insurance policy made for those who does not meet the medical or health requirements of the traditional life insurance plans due to health problems. This is a good way to see that everyone, notwithstanding their health status  can buy some level of life insurance coverage.

In USA just like many other countries, insurers offer Guaranteed Approval Life Insurance plan to policyholders. The policy is usually attractive to individuals who have existing health challenges and is therefore accessible to many people.

Benefits of Guaranteed Approval Life Insurance

Here are some of the benefits of this type of insurance policy.

  1. It provides access to life insurance to many seniors who may find it difficult to qualify for regular life insurance as a result of age or health issues. Therefore, the Guaranteed Approval life insurance policies offers them opportunity to leave behind financial assistance for their dependents.
  2. Apart from the seniors, the policy also provides Individuals with Serious Health Conditions or chronic illnesses or a history of serious health problems the opportunity to buy life insurance.
  3. The policy also serves as Funeral or Final Expenses. Thus, those who are young and healthy may consider the Guaranteed Approval life insurance policy to cover funeral and burial expenses of their loved ones and as such serves to ease the financial burden on their families upon their death.
  4. The policy is affordable especially to Low-Income Families.
  5. Also, Parents of Children with Special Needs such as ones with children with disabilities and who wants to ensure their child’s well-being in the future can make the policy as part of a comprehensive life insurance plan.

How It Works

Here’s how the policy typically works:

  • There is no requirement for Medical Examination.
  • There is presence of Guaranteed Acceptance or approval. This means that almost every applicant gets is approved. There are no disqualifications based on your health status or age.
  • Limited Coverage Amounts of between $5,000 and $25,000 to provide a financial benefits for your beneficiaries.
  • Higher payable Premiums because of the high risk due to the absence of a medical exam.
  • Presence of Waiting Periods: this is the period, say two years, during which the full death benefit will not be paid out if the policyholder passes away during the period. In most cases, the beneficiaries will receive the premiums already and the accrued interest.


This life insurance policy as you can see, serves as a financial safety net for those who do not meet up for the health requirements with the traditional life insurance plan.

It offers coverage and ensures that your loved ones are well taken care of. This is even when health problems or other challenges may stand in the way. Therefore, whether you’re an elderly person, you have health issues, etc, this type of life insurance plan should form an integral part of your financial planning.


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