Simplified Issue life insurance allows the consumer to purchase insurance on a less invasive platform. Usually the application has fewer questions and normally there is no exam. We have broken these non medical policies into two groups, No Exam and Simplified Issue. Simplified issue policies are generally small whole life policies which accept up to moderate health risks. Policies are normally under $100,000 and most are under $50,000. If you have severe health concerns you should try Burial Insurance Planner.com for low cost alternatives.
What are the common reasons for purchasing a Simplified Issue Life Insurance Policy?
- Normally there is no exam required.
- Takes less time to purchase than a fully underwritten life insurance policy.
- Protection is normally guaranteed to age 100
- People who are needle phobic will prefer this option.
- People wishing to provide less information for the purchase will go this route.
- People looking for a way to pay for final expenses will choose this option.
- Premiums are normally guaranteed to age 100.
Who should buy a Simplified Issue Life insurance policy?
Consumers looking for a low hassle insurance plan should consider this. Someone who needs coverage in less than a week should look here for sure.
People with okay to moderate health concerns will have a good chance for coverage on this platform. Final Expense is another reason people buy simplified issue life policies.
Who should not buy Simplified Issue Life Insurance?
If you are looking for the lowest premium and are willing to leverage your great health to obtain the lowest cost you will probably want to look elsewhere.
If you are looking for a significant amount of coverage, usually over $100,000 of death benefit you will probably prefer another route.
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