Life insurance for seniors provides an affordable way to get permanent coverage to pay for funeral expenses. The best guaranteed issue life insurance companies offer reliable coverage at an affordable monthly cost.

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What Is Guaranteed Issue Life Insurance?

Guaranteed issue is a whole life insurance policy that asks no medical questions and approves every applicant. Other whole life policies require people to qualify based on their health. With a guaranteed acceptance plan, seniors will never be asked about their health to get coverage.

Guaranteed Issue Whole Life Insurance Benefits

Whole life insurance provides permanent protection for your loved ones. These policies are often used to cover the insured’s end-of-life costs and are commonly referred to as burial, final expense, and funeral insurance.

There are many benefits of a whole life policy. The three most important features are price lock, coverage lock, and cash value.

A few benefits make guaranteed issue policies stand out from a traditional whole life plan.

Smaller Coverage Sizes: The maximum death benefit is usually $25,000. Guaranteed acceptance whole life comes in lesser policy amounts compared to other final expense plans with underwriting.

No Medical Exam: There are no medical exams required to qualify for any final expense insurance.

No Health Questions: Guaranteed Issue is the only simplified issue whole life insurance that does not require any health questions to be answered. All seniors qualify, regardless of health.

Guaranteed Life Insurance No Medical Questions

Guaranteed life insurance for seniors is an excellent option for those with compromised health who cannot qualify for other coverage. If you have one or more of the following medical concerns, a guaranteed acceptance plan is a perfect fit.

  • 24-hour continuous oxygen use
  • Alzheimer’s Disease, dementia, or memory loss
  • Bedridden
  • Confined to hospital, nursing home, mental care, or long-term care facility
  • Currently have or receiving treatment for invasive cancer
  • Diagnosed with a terminal illness
  • Implanted defibrillator
  • On hospice
  • Organ transplant
  • Receiving kidney dialysis

With the leniency of no health questions, at least a 2-year waiting period is required. Burial insurance with no waiting period is possible if you do not have any of the above-listed medical concerns. Applicants should always seek immediate coverage by answering health questions.

senior man with book

How Much Does Guaranteed Issue Life Insurance Cost?

Most seniors pay $50 – $120 monthly for guaranteed acceptance life insurance plans with a $10,000 death benefit. The cost varies by age, gender, and the policy amount. So, your guaranteed issue insurance quotes could be higher or lower than the average price.

Insurance companies set their own pricing, so the cost of coverage can range.

Guaranteed Life Insurance for Seniors Quotes

$10,000 of Coverage

Age Female Male

Best Age for Buying Guaranteed Acceptance Insurance

Anyone 45 – 80 is eligible for guaranteed life insurance coverage. However, age requirements vary by company.

Other life policies will likely be better if you are younger than 45. Final expense insurance is available for those who qualify up to 89 years old. Guaranteed acceptance plans are not available to seniors over 85.

Is Burial Insurance the Same as Guaranteed Issue Life Insurance?

Guaranteed acceptance life insurance is taken out as burial insurance. Due to its small death benefit options, these policies are intended to cover burial and other final expenses. Funeral insurance plans that are not guaranteed acceptance will have health questions to qualify and cost less.

Guaranteed Acceptance Life Insurance with No Waiting Period

Guaranteed acceptance plans with no waiting period do not exist. Since no health questions are asked, it raises the risk that the carrier is taking on.

Guaranteed issue life insurance companies will enforce a two or three-year delay in coverage before the beneficiary can receive the full death benefit. Two years is the most common length of time, and there is no reason anyone should get a policy with a three-year delay because there are many reputable companies with only a 2-year waiting period.

How Waiting Periods Work

If the insured passes away of natural causes within the first two years of the policy, the beneficiary will receive the paid premiums plus interest. The interest is usually around 10%.

The beneficiary receives the full policy amount if the insured passes away due to an accident during the waiting period. This protection is often referred to as an accidental death rider. Once the waiting period is over, the insured can pass away from any cause, accidental or natural, and the beneficiary will receive full coverage.

Should I Buy Guaranteed Acceptance Life Insurance?

A final expense insurance agent can pre-qualify you for immediate coverage options. You should get a permanent guaranteed acceptance plan if you cannot pre-qualify.

These policies do not care if other life insurance companies have denied you coverage, so there is no harm in trying to get a simplified issue plan with medical questions and no waiting period.

Guaranteed issue plans are a great option for life insurance if you cannot qualify for other coverage.

A burial life insurance specialist will be able to assist you in finding the best plan to meet your needs.

Who is Guaranteed Issue Life Good for?

A guaranteed issue final expense policy is good for seniors who cannot qualify for other life insurance coverage or do not want to answer health questions.

Seniors must fit the accepted age range and be healthy enough to enter a contract legally. These are essentially the only two things that could prevent someone from getting guaranteed coverage.

four adults sitting on couch

What Is The Best Guaranteed Issue Life Insurance Policy?

AIG is the best company for guaranteed issue insurance coverage. AIG offers unmatched coverage with competitive prices and riders that provide living benefits. The riders included in the quoted price allow policyholders to accelerate the death benefit due to nursing home confinement or terminal illness. 

How do I Find the Best Guaranteed Acceptance Life Insurance?

Most guaranteed policies provide the same coverage, and the only difference is the price you pay. Many insurance providers offer guaranteed protection to cover burial and cremation costs. There are three things to look for when taking out guarantee acceptance life insurance.

Cost: Affordability is critical. Most guaranteed acceptance coverage is the same, so search for the lowest price.

Coverage: All guaranteed policies have a waiting period of a minimum of 2 years. There is no need to wait longer than two years for complete coverage to start. Some insurance companies provide riders (additional coverage) for free, so compare the differences in policies to ensure you get the best price.

Company: A company with a solid financial rating will provide the most security to your family. A financial rating signifies the strength of the carrier’s ability to pay future financial commitments when due.

3 Top Guaranteed Acceptance Plans

Compared to other options on the market, these three products are the best guaranteed acceptance plans available.


  • Age Eligibility: 50 – 80
  • Death Benefit Size: $5,000 – $25,000
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • States Covered: 49 states & DC (excluding NY)
  • A.M. Best Company Rating: A (excellent)
  • Full AIG Review

Mutual of Omaha

  • Age Eligibility: 45 – 85
  • Death Benefit Size: $2,000 – $25,000
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • States Covered: 50 states & DC
  • A.M. Best Company Rating: A+ (superior)
  • Full Mutual of Omaha Review

Guaranteed Acceptance Policies to Avoid

Due to the high price point and lack of riders, these companies should be avoided, even if you get promotional material in the mail.

AARP | New York Life

  • Age Eligibility: 50 – 80
  • Death Benefit Size: $5,000 – $25,000
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • State Availability: 48 states (excluding NJ & WA)
  • A.M. Best Company Rating: A+ (superior)
  • Full AARP | New York Life

Colonial Penn

  • Age Eligibility: 50 – 85
  • Death Benefit Size: $468 – $24,000(depending on age)
  • Health Questions: No
  • Waiting Period for Benefits: 2-years
  • State Availability: 49 states (excluding NY)
  • A.M. Best Company Rating: A (excellent)
  • Full Colonial Penn Review

What is the Difference Between Guaranteed and Non-Guaranteed Life Insurance?

Guaranteed life insurance has few requirements to get a policy, and virtually everyone is accepted. Life insurance that is not guaranteed goes through an underwriting process with more restrictions. Seniors must apply and qualify for any other type of life insurance that is not guaranteed acceptance.

Guaranteed policies have an automatic waiting period before full benefits are available, while many non-guaranteed policies offer coverage with no waiting period. Non-guaranteed life insurance is also known as simplified issue life insurance.

Policies that guarantee coverage to every applicant come at a higher price point.

Riders are added coverage benefits. More rider options are usually available with non-guaranteed plans compared to guaranteed products.

Guaranteed Life Insurance For Seniors Final Thoughts

a. Guaranteed issue insurance accepts nearly everyone who wants a policy. Since these plans are lenient with allowing coverage, there is a 2 – 3 year waiting period before full coverage is available.

b. Most seniors will qualify for simplified issue burial life insurance with no waiting period, which is better protection than a guaranteed acceptance product.

c. Working with a specialized agency with access to many insurance companies will provide the best coverage options to meet your individual needs.