You may want to consider a low value guaranteed issue life insurance policy like Gerber or Globe Life Insurance for children offers.
Guaranteed issue individual life insurance will insure almost anyone who comes along, with no medical examination, and few or no medical questions.
These guaranteed life insurance policies should not be confused with "simplified issue" or "quick issue" individual life insurance, which do ask some medical questions but also will not require an examination.
Make sure you do the math to figure out how much you might have to pay out for the guaranteed issue life insurance policy over a period of 5, 10 or 15 years. Cumulative premiums paid over the long term may exceed the face amount of the life insurance policy. So, over time you may pay more premiums than the amount of life insurance that may be paid out in case of death of the insured person.
In addition, guaranteed issue life insurance policies always have "graded benefits" provisions. A graded death benefit stipulates that the life insurance policy pays out only a portion of the death benefit if the insured person dies within the first several (1-3) years of the policy. This provision is put in to thwart someone from getting a policy when they have been given two or three months to live. Insurers could not offer this type of policy without a graded benefit provision.
Here's how to learn more about guaranteed issue life insurance plans and request a free quote online.
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Guaranteed issue individual life insurance will insure almost anyone who comes along, with no medical examination, and few or no medical questions.
These guaranteed life insurance policies should not be confused with "simplified issue" or "quick issue" individual life insurance, which do ask some medical questions but also will not require an examination.
Make sure you do the math to figure out how much you might have to pay out for the guaranteed issue life insurance policy over a period of 5, 10 or 15 years. Cumulative premiums paid over the long term may exceed the face amount of the life insurance policy. So, over time you may pay more premiums than the amount of life insurance that may be paid out in case of death of the insured person.
In addition, guaranteed issue life insurance policies always have "graded benefits" provisions. A graded death benefit stipulates that the life insurance policy pays out only a portion of the death benefit if the insured person dies within the first several (1-3) years of the policy. This provision is put in to thwart someone from getting a policy when they have been given two or three months to live. Insurers could not offer this type of policy without a graded benefit provision.
Here's how to learn more about guaranteed issue life insurance plans and request a free quote online.
Insurance without any Medical Exam,
Just a Few Health Questions.
