when guaranteed issue falls short
there are two scenarios in which a guaranteed issue policy might not pay off or be the best option these are if the insured lives long enough that the premiums paid exceed the death benefit or if the insured buys a guaranteed issue policy when they could have qualified for a policy that has medical underwriting policies with medical underwriting have lower premiums for the death benefit they provide they also offer immediate death benefits or a graded death benefit instead of having a waiting period the bottom linedespite these factors guaranteed issue can be a valuable financial asset for people who can t otherwise get insurance and those people aren t always seniors they may be younger or middle aged adults in poor health who want to leave money for their families no two guaranteed issue life insurance policies are the same so as with other insurance policies you should shop around for the one that best fits your needs that way you re more likely to find the best life insurance policies currently on the market look for affordable rates something you know you ll be able to keep up with even if your financial situation changes because a lapsed policy won t help anyone except the insurance company most importantly don t assume you can t qualify for a policy that has a health questionnaire you won t know until you apply 