Simplified Issue Whole Life Insurance vs Guaranteed Life Insurance

I think that people see a lot of ads for life insurance products they see on TV like simplified life insurance and guaranteed life insurance. However, I don’t know if people understand them. But before you purchase any life insurance or burial insurance policy, either for yourself or an elderly parent, you should understand what you are buying. For one thing, you may be tempted to buy guaranteed life insurance, when you could qualify for and buy a simple issue life insurance policy. The simple issue product is usually cheaper and has an immediate death benefit.

I urge you to do more research, and possibly talk to a life insurance agent. You can compare simplified and guaranteed life insurance or find a local life insurance agent. Before you make a long term contract, life a life insurance policy, you should always understand what you are buying. Sometimes these products are also marketed as burial policies or final expense insurance.

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