Guaranteed Issue Coverage For People Under Age 40

David Duford last updated on March 7, 2022

If you’re looking for burial insurance or life insurance that will cover somebody under the age of 40 with significant health issues, this article can help.

I will discuss your options and explain what to do if you’re looking for a guaranteed acceptance plan for yourself or your loved one. So, let’s begin.

Can I get guaranteed acceptance life insurance for somebody under the age of 40?

Well, honestly, it depends. Most people looking for guaranteed cover have likely failed to qualify for other plans due to various health reasons.

And unfortunately, there are no guaranteed acceptance policies that will cover what you’re looking for.

However, there is some good news.

There are several options that will cover what we call “near guaranteed issue circumstance.”

So even if you or your loved one has had significant health issues, you can still find quality coverage.

If that’s the case, David, what are my options then?

Right, well first, this section will discuss which insurance companies our team will look at if you decide to do business with us.

So, given that you’re looking for an insurance policy with little to no questions for someone under 40 let’s look at United Home Life.

#1 United Home Life

United Home Life offers what’s called an Express Issue Graded Whole Life Plan. There are minimal health questions, and it may cover a variety of issues with a quality burial insurance plan.

Plans are available from $5,000 in coverage, all the way up to $25,000. As long as you’re aged 20 or older, you may be eligible to qualify.

Again, this policy is called “near guaranteed issue,” meaning that it’s very close to being considered guaranteed approval.

There is a two year waiting period. But, if you pass away in the first two years, the money (plus some interest – 12% in the first year, 24% in the second) will be paid to your chosen beneficiary.

In most cases, our team at Buy Life Insurance For Burial will use this plan if the client’s health is not 100%.

#2 Transamerica Life Insurance Company

If you’re between the ages of 18 and 39, you may qualify for Transamerica’s Easy Solution plan.

Like the United Home Life policy, the Easy Solution plan is designed to provide coverage that people would otherwise have a difficult time qualifying for.

You will have to answer some health questions. But, the good news is that with an Easy Solution Product, you’re looking at coverage between $1,000 in death benefit, all the way to $25,000.

Plus, if you pass away due to natural causes in the first two years, your money (plus interest) will go to your chosen beneficiary.

#3 Liberty Bankers Life

Liberty Bankers Life can provide first-day full coverage.

This means that if you or your loved one passes away at any point after the first premium, your beneficiary will receive the full death benefit.

In fact, we had one client in her 30s (with COPD) who was fully approved from day one for this particular plan.

Just please keep in mind that this can be a great option only if your health qualifies.

Our Company – Buy Life Insurance For Burial

In short, when we work with a client who is under the age of 40 and has health issues, we look at these three companies first.

But how do these insurance plans work?

Basically, we utilize what’s called a “simplified issue whole life plan.” I will explain more below!

Simplified Issue

With this plan, there’s no examination. The company simply looks at your health records, compares them against a few questions, and determines an insurance policy based on that information.

The great thing about simplified issue is that you get a decision instantly, usually within two minutes.

Worst case scenario? A couple of days if additional information is required.

If you want to avoid the difficulties associated with taking a health exam, simplified issue plans might be the perfect solution for you.

And, unlike term insurance and sometimes universal life insurance, your whole life insurance premiums never increase. This is honestly fantastic.

A lot of people under the age of 40 who need this plan probably rely on some sort of fixed income. So, knowing that the price can never go up is a huge relief.

Another added benefit is that these plans cannot cancel due to age or health.

At the end of the day, we don’t know when the worst will happen. That’s why it’s important to secure a plan that doesn’t “run out.”

And as long as you pay the premium, simplified issue whole life assurance plans guarantee that you’ll always be covered.

Plans You Should Avoid

I recommend avoiding both term insurance and universal life insurance, especially if you’re under 40 and looking for something similar to a guaranteed acceptance plan.

While term and universal life insurance can be suitable for various cases, if your health is not 100%, it’s highly likely that you won’t qualify.

Unfortunately, a lot of agents will try to tell you otherwise. They’ll bait you with an attractive (but impossible to qualify for) plan and then switch later on to a policy that you’re actually eligible for.

But chances are if you’re here reading this article, you already know you can’t qualify for those plans and don’t want to waste any more time looking at them.

My recommendation – if you have health complications stay away from term insurance and universal life insurance.

Reasons why guaranteed issue life insurance is a good option (if you’re under 40)

There are two main reasons why people under 40 try to get guaranteed issue life insurance.

#1 Final Expenses

The first is to take care of funeral costs.

Understandably, no one would want to leave their family in debt when they pass away. But the unfortunate truth of the matter is that funeral costs have skyrocketed.

In fact, if current inflation rates continue, we expect prices to double over the next 20 years – increasing from an average of $11,000 to $22,000.

The simplest way to handle these ludicrous costs is to secure burial insurance, especially if you’re in your 30s and 40s.

There’s no telling how expensive funeral costs could amount to in 30 to 40 years.

#2 Debt Payoff

A lot of people in their 30s and 40s also look for life insurance plans to cover other costs unrelated to funeral arrangements.

For instance, maybe you want to pay off a car, credit card, or house. That way, at least you know your loved ones won’t struggle financially when you leave.

Another option we recommend for people under the age of 40 is to take out an accidental only coverage policy.

An accidental coverage policy will provide you with significantly more cover than most near guaranteed acceptance plans.

Most near guaranteed acceptance life insurance plans for people under 40 will cover funeral expenses plus a few additional costs.

However, if you wish to cover a mortgage or extensive credit line, an accidental death plan is an inexpensive way to do so.

If you decide to work with our team at Buy Life Insurance For Burial, make sure you ask about our accidental death benefit options to enhance your cover.

What health conditions qualify for possible coverage under the age of 40?

This is a question we hear often. And of course, the first thing you would want to know is whether your specific health issue is covered.

So, if you have any of the following health issues, you may be eligible for one of our plans.

Diabetes
Insulin dependence
COPD or any chronic lung problems
Oxygen use
Congestive heart failure
Heart issues within the past 12 to 24 months
Cancer within the past 12 to 24 months
Mental health disorders
Bipolar
Depression
Schizophrenia
PTSD
Neurological disorders
Lupus
Multiple sclerosis
Parkinson’s

And many more conditions

The length of this list surprises many of our clients. And it’s highly likely that if you struggle with one of these health conditions, we will be able to find coverage for you.

Get A Free Quote

If you have an issue that’s not mentioned here, don’t despair!

Call us directly at 888 626 0439!

If you would like to speak to a member of our team about guaranteed issue insurance for someone under 40, we can run a quote for you in under ten minutes.

There’s absolutely no pressure to accept. We’ll explain how it works and let you decide if it makes sense for you.

To request a free burial insurance quote online, you can also click the “quote request” button.

Fill in your information, and we’ll let you know what your options are via email, text, or phone.

I hope this article has helped you learn more about your options. Feel free to comment below if you have any questions. Thank you for reading!