Best Guaranteed Acceptance Life Insurance Companies – Guaranteed acceptance life insurance is one of the types of whole life insurance. It comes with several benefits, which vary by insurance company. Generally, guaranteed acceptance life insurance plans are policies with a limited benefit period. It does not require medical exams or ask health-related questions from policyholders. While this is one of the best life insurance policies to consider, it is important to know the best-guaranteed acceptance of life insurance companies to purchase insurance from.
This type of life insurance, often referred to as guaranteed issue life insurance, typically offers a limited death benefit. Like other whole life insurance plans, it accumulates cash value over time. Also, its coverage lasts as long as premiums are continuously paid. Because it requires no medical exam or asking health-related questions. It is one of the best life insurance policies to go for but depends on your needs.
5 Best Guaranteed Acceptance Life Insurance Companies
Just as there are several life insurance companies, there are others that offer guaranteed acceptant life insurance. These insurance companies offer flexible benefits and discounts along with competitive insurance rates to make whole-life insurance more affordable for people. However, some of the best guaranteed acceptant life insurance companies include:
Mutual of Omaha
This life insurance company provides coverage for individuals aged 45 to 85. With policy amounts ranging from $2,000 to $25,000 to cover final expenses. Mutual of Omaha does not require a medical exam and offers simplified issue coverage for healthy applicants up to age 85. Aside from all of these, this insurance company has a higher financial strength, giving it the strongest ability to pay claims.
AAA
AAA’s guaranteed acceptance whole life insurance plan offers coverage amounts of up to $25,000 to policyholders who are between the ages of 45 and 85 towards debts and final expenses. This life insurance company offers its policy information online, unlike other insurance companies. This policy information includes coverage amounts, qualifying ages, and additional coverage options.
Fidelity Life
Fidelity Life is considered one of the best for seniors because it offers a wide variety of benefits to policyholders who are over the age of 50. They offer up to $25,000 in death benefits to policyholders for final expenses and funeral costs. Aside from that, policyholders who qualify after answering a few questions get to earn up to $40,000 on coverage.
State Farm
State Farm guaranteed acceptant life insurance offers final expense plans for policyholders who are between the ages of 45 and 80. This insurance company offers the best customer service as well as its financial stability, giving them the ability to pay off claims and final expenses.
MassMutual
This life insurance company makes guaranteed acceptant life insurance available to policyholders who are between the ages of 50 and 75. They offer insurance coverage amounts ranging from $2,000 to $25,000, which are channeled toward final expenses and outstanding debts. Aside from these, MassMutual offers a wide range of policies, which include variable universal, universal, and whole life plans.
FAQs:
What is the Difference Between Whole Life and Guaranteed Acceptance Life Insurance?
While these life insurances both offer permanent insurance coverage, they are not the same as each other. Guaranteed acceptance life insurance ensures you can’t be denied coverage, but it comes with lower payouts and higher monthly premiums compared to other options. Whole life insurance provides broader benefits to policyholders but requires a medical exam.
How Much Guaranteed Acceptance Life Insurance Can I Buy?
Typically, the maximum coverage for this life insurance policy is $25,000. However, the actual coverage you can obtain varies based on the insurance provider and the cost they set for guaranteed acceptance life insurance.
How Can I Choose the Best Guaranteed Acceptance Life Insurance Company?
When selecting the best-guaranteed acceptance life insurance company, it is vital to consider different important factors. These factors include customer reviews, the company’s financial ratings, premium rates, and policy benefits. Another approach to finding the best guaranteed acceptance life insurance provider is to compare quotes from various companies and choose the option that best suits your needs. Also, contacting an experienced life insurance agent or broker is another way to find the best life insurance company.
Advantages of Guaranteed Acceptance Life Insurance?
One of the advantages of this life insurance is that irrespective of health condition, no medical exams or health-related questions are asked or taken. As long as premiums are paid, it offers long-lasting coverage. Another advantage of this insurance is that it provides financial safety for policyholders who cannot get coverage somewhere else.