Life insurance that is guaranteed issue means that the person applying for it cannot be declined due to life insurance or other risk. However, there are usually strict age guidelines for guaranteed issue life insurance, with the minimum age usually age 40-50 and the maximum age usually under age 80.
Also, the policy is graded during the first one to three years, meaning that it will pay a portion of the death benefit (or pay back what was paid in plus a little extra) during those years for death due to natural causes. After the graded period is over, it generally pays 100% for death by any reason.
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Also, the policy is graded during the first one to three years, meaning that it will pay a portion of the death benefit (or pay back what was paid in plus a little extra) during those years for death due to natural causes. After the graded period is over, it generally pays 100% for death by any reason.