The Edge: Non-Medical Guarantee Issue Life Insurance Plan

guaranteed issue life insurance smoker
The Edge has combined rates for smokers
and non-smokers.

The Edge, Non-Medical Life Insurance plan which is underwritten by Industrial Alliance, recently lowered its rates for most age bands and face amounts.

The Edge policy targeted at final expenses offers face amount of $5,000, $10,000, $15,000, $20,000.00, and $25,000.

The plan is a Guaranteed Issue Life Insurance product, meaning there are no health questions, and no medical tests. The policy uses blended smoker/non-smoker rates on the one hand, but does distinguish between males and females on the other.

The plan is available up to age 85 and provides coverage for the insured’s entire life. In addition, premiums can be adjusted on a class-wide basis.

Below is sample pricing for $15,000 of coverage:

Male age 35: $19.86 a month

Male age 45: $35 a month

Male age 55: $63.71 a month.

Female age 35: $16.32 a month.

Female age 45: $28.63 a month.

Female age 55: $52.11 a month.

The one caveat with this plan, and other guaranteed issue plans, is that the death benefit is limited to return of premium plus 10% interest, if the insured dies due to a non-accidental death within the first two policy years. One alternative to Guaranteed Issue Life  Insurance is Simplified Issue Life Insurance.

There are no medical tests under these plans but the insured must answer between three to 12 health questions, depending on the plan. The coverage often takes effect from day one. These plans also generally offer lower premiums and higher face amounts than traditional plans.

For more details, you can contact us at 1-866-899-4849, or visit our Non-Medical Life Insurance Quote Page.

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