What Is Simplified Whole Life Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.Simplified Whole Life Insurance is a Whole Life insurance policy that is purchased with "simplified" underwriting. There is almost never an exam required when applying for a simplified issue policy, and medical records are ordered infrequently, if at all. Simplified Whole Life is often used for final expense or burial policies because it comes in small face amounts and because the policy is permanent.Answered on June 30, 2013flag this answer- 63333 POINTSview profilePeggy MaceMost of the U.S.Simplified Whole Life Insurance is probably a reference to a Whole Life policy that is issued on a simplified basis. I.e. Applying does not require an exam, and most likely the insurance company will not order medical records. The phrase sometimes used is, "simplified issue whole life".Answered on August 25, 2014flag this answer
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