Simplified vs. Guaranteed Issue: Which No-Exam Life Insurance Is Right for You?
When you decide to skip the traditional medical exam for life insurance, you generally find yourself at a fork in the road. On one side is Simplified Issue life insurance; on the other is Guaranteed Issue . While both allow you to avoid needles and lab tests, they serve very different needs and come with distinct price tags. Understanding the nuances between these two "no-medical" options is essential. Choosing the wrong one could mean paying significantly more than necessary or, conversely, leaving your family with a policy that doesn't provide the level of protection they truly need. Simplified Issue Life Insurance: The Middle Ground Simplified issue life insurance is designed for people who are in relatively good health but prioritize speed and convenience. It is the "fast-track" version of traditional insurance. How it Works: You skip the physical exam, but you must answer a set of health questions on the application. The insurance company will also cross-...