Guaranteed issue life insurance can be obtained without a medical exam and without answering health questions. The following are some additional guaranteed life insurance features:
1. Guaranteed issue policies can be purchased directly from insurance companies or via independent brokers.
2. The insured choose their own beneficiary. Beneficiaries must have an insurable interest, such as a spouse, child, relative, or business partner.
3. Death benefits are paid out on a tax-free basis.(Guaranteed Issue Life Insurance Facts continued...)