Benefits of Guaranteed Acceptance Term Life Insurance

Determining what type of life insurance to purchase can be tricky. You have likely done research on different kinds of insurance, such as guaranteed acceptance term life insurance, and what companies have the best insurance products. You may be asking yourself, “What are the benefits of guaranteed acceptance policies?”


This life insurance is guaranteed. You cannot be turned down for any reason. In addition, your coverage cannot be reduced or taken away for any reason. However, your benefits may be delayed 2-3 years based on the company’s waiting period. In addition, these policies are for individuals in a specific age group, typically 50-80 years of age.

This insurance is typically purchased by individuals who cannot get insurance through any other type of policy or who cannot afford the premiums on other policies because they are much higher due to their health challenges.


Not only is your acceptance guaranteed, but you don’t have to disclose any health issues to the insurance company. For example, these companies do not have access to your medical records or prescription drug lists. They do not require a medical exam or blood tests.

Guaranteed acceptance policies are beneficial for individuals who have terminal or chronic illness, cognitive impairments or those who live in nursing homes. These types of medical challenges would prevent these individuals from purchasing traditional life insurance.


Because no medical examination is necessary, no underwriting is required for these life insurance policies. Therefore, the application process is quick and easy.


If the insured dies within the waiting period, the beneficiaries receive all of the premiums paid during this time period in addition to any interest that has accrued (typically about 10%). If death occurs after the waiting period has passed, the beneficiaries receive the full benefit of the insurance. However, these types of policies typically cap out at $25,000.

If you are having difficulty finding life insurance, consider guaranteed term life insurance.