Three Guaranteed Issue Life Solutions From Assumption Life

Assumption Life has made a big splash in the guaranteed issue life insurance market. Guaranteed issue life insurance is a policy which is geared towards individuals who are not in optimal health but have a need for life insurance. These policies are issued without a medical test and with limited proof of insurability. Most guaranteed issue plans limit the death benefit in the first two policy years but Assumption Life’s Golden Protection and Golden Protection Plus pay out from day one.

Below is a description of the three plans with sample pricing:

Golden Protection and Golden Protection Plus

• Lifetime protection
• Fixed premium for life
• Insurance amount doubles in case of accidental death, and it triples in case of accidental death in a public transportation vehicle
• Issue ages: 40 to 85 years of age
• Face amounts: $1,000 to $50,000
• Limited insurability questions – no questions related build, high blood pressure, high cholesterol or diabetes other than Insulin shock
• Golden Protection Plus allows participants to increase their original coverage amount by 3% annually – until the initial sum insured doubles or the insured reaches age 100 on the coverage’s anniversary

Pricing:
50 year old male non smoker – $10,000 Golden Protection - $29.36 a month
50 year old male non smoker – $10,000 Golden Protection Plus - $35.35 a month

Total Protection

• Fixed premiums
• Lifetime protection
• Issue age from 18 to 80
• Protection ranging from $5,000 to $30,000 (and up to $50,000 with additional questions)
• Online application approved in 24 hours
• No waiting period for accidental death
• Premiums are reimbursed if death occurs within the first two years plus 3% interest
• Only three health questions – no question related to heart attack or heart failure
• Protection could double in case of accidental death before age 70

Pricing:
50 year old male non smoker – $10,000 Golden Protection Plus -$54.08 a month