#1 Gerber: If you are between the ages of 50 and 80, you can choose from $5,000 to $25,000 in guaranteed life insurance from Gerber Life Insurance Company. The application process is simple and easy. No medical exam is required and there are no health questions to answer. Your acceptance – regardless of your health – is guaranteed.
#2 AIG: AIG insurance offers $5,000 to $25,000 in coverage for individuals between the ages of 50 and 80. The application process is easy and fast. Most cases have no waiting period and as a result, are processed within 15 minutes. You also can’t be turned down for health reasons.
#3 Great Western: Great Western Life Insurance Company offers the highest coverage amount limit of $40,000 ($48,000 in some scenarios), for individuals between ages 40 and 85. This makes Great Western the only product available for high-risk individuals under the age of 50.
Great Western is 10-25% more expensive than Gerber or AIG, because it’s policy is unique. If you can answer three medical questions, you can get $48,000 in guaranteed acceptance coverage.
Finally, Great Western’s guaranteed acceptance life insurance also includes two additional benefits:
- Accelerated Death Benefit will pay the current value of your policy if you have less than 12 months to live due to a terminal illness diagnosis.
- Children’s Insurance Benefit Rider, this allows you to get a life insurance policy on a dependent child or grandchild for $2,500 for just $1/month.