what is guaranteed issue life insurance 
guaranteed issue life insurance or guaranteed acceptance life insurance is a type of whole life insurance policy that does not require you to answer health questions undergo a medical exam or allow an insurance company to review your medical and prescription records you may also see it referred to as no questions life insurance or no questions final expense insurance 1sounds great right here s the catch guaranteed issue life insurance always has a waiting period if you die during the waiting period your beneficiaries will not receive the policy s death benefit with most policies the waiting period is two years with some it s three 1this is not some kind of scam in fact if you die during the waiting period the insurance company will repay to your beneficiaries all your insurance premiums plus interest usually at a rate of 10 1your beneficiaries will still get something it will just be less than you d like insurance companies put this waiting period in place because if they didn t everyone could apply for insurance on their deathbed and pay a few hundred dollars to secure a 25 000 benefit for their family no insurance company could stay in business this way guaranteed issue life insurance provides coverage to sick people who otherwise couldn t get it 