UV Insurance: Instant Simplified Life Insurance

    What is Simplified Issue Life Insurance

    Simplified issue life insurance differs from traditional insurance in that no medical exam is needed. Instead, there is a short health questionnaire to answer. It also differs from guaranteed issue insurance, which does not have a questionnaire. Simplified is ideal for those that do not quality for traditional insurance, but do not need the strict confines of guaranteed issue in order to qualify for a life insurance policy.

    UV Insurance Guaranteed Life Insurance: Snapshot

    Below is a snapshot of the guaranteed life insurance product from UV Insurance.

    Type of applicationElectronic OnlyComment
    Number of questions8 eligibility questions with 12 sub-questions
    Coverage$25,000 – $50,000
    Insurance typePermanent lifePermanent insurance is described below
    Speed of decisionImmediate decision and issue within 24 hoursYou will be either accepted or declined
    UnderwritingNo underwriting
    Ages coveredAdaptable: 18-75 years
    Integral: 18-65 years
    Additional ConditionsDeferred 12 months – premium refund 12 to 24 months – 50% of insured amountIf a policyholder passes away during the first 12 months, no claims will be paid but all premiums will be refunded. Should a policy holder pass away within 12-24 months, only half of the coverage will be paid.

    Permanent insurance does not expire. Unlike term, which only is in force for the term specified then renews at higher rates, permanent insurance does not need to be renewed.

    UV Insurance Simplified Life Insurance, Instant: Additional coverages

    Simplified life insurance “instant” product from UV Insurance comes with two additional coverages:

    • Accidental Death and Dismemberment (AD&D)
    • Pre-approved Critical Illness Insurance

    When to choose Simplified Life Insurance

    Choose simplified life insurance when:

    • You want to get insurance in a matter of hours, not days
    • You have a medical condition that would give you a rating or decline on traditional insurance
    • You don’t like medical exams

    Simplified vs Guaranteed Life Insurance

    Choose guaranteed issue instead of simplified when:

    • You have a serious illness or shortened life expectancy
    • You are uninsured but your family needs money for final expenses
    • You do not quality for any other type of insurance

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