What Is Simplified Issue Life Insurance?

Do you want to protect your loved ones financially in the event of an untimely death? Simplified issue life insurance may be the perfect solution for you. This type of life insurance allows individuals to obtain coverage quickly and easily, without having to undergo a lengthy underwriting process, and with costs being affordable.

Typical Simplified Issue Life Insurance Policy Coverage Amounts:

The idea behind simplified issue life insurance is that applicants do not have to go through a full medical exam or answer lengthy questions about their health history. The insurer instead relies on responses from basic yes/no questions and other easy-to-answer inquiries in order to determine eligibility for coverage. This makes it easier than ever before to secure life insurance protection without any delays or complications.

Simplified issue life insurance also offers attractive premiums that are usually lower than traditional guaranteed policies (final expense, burial, no medical) - making it even more appealing for those seeking quick, hassle-free coverage at an affordable price point.

Popular With Seniors

Lately, these simplified issue policies have been very popular with seniors over 70, because they offer higher death benefits than guaranteed issue policies, while still being fairly easy to get approved for. If you are looking to get a bit more money that just what's needed to cover final expenses and burial costs, this policy can be for you.

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How Does Simplified Issue Life Insurance Work?

Simplified issue life insurance is a fast and convenient way to get financial protection for yourself and your family. Like all life insurance policies, it provides the insured with the peace of mind that their loved ones will be taken care of in the event they pass away unexpectedly. But unlike traditional life insurance, which requires extensive health screenings and paperwork by the insurance companies, simplified issue only requires basic information from applicants.

The process is quite simple – all you need to do is answer a few health questions, lifestyle habits and age. The application can usually be completed online or over the phone in minutes, without any medical exams or blood tests needed. Once approved, the policyholder will receive an official copy of their policy documents along with instructions on how to access benefits if necessary.

Using these quick and easy steps, getting coverage has never been easier - giving people peace of mind knowing that they have done what they can to financially-protect those around them when they die.

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Simplified Life Insurance Versus Term Life Insurance

Simplified issue life insurance makes it very easy and convenient to obtain life insurance coverage.

However, it is important to understand the differences between this type of policy and term in order to make an informed decision about which one best suits your needs.

Term life insurance offers a much larger amount of coverage (death benefit) over a predetermined period of time. This can be beneficial if you require more financial protection than what's offered by simplified policies. For example, if your beneficiaries need the money to pay estate taxes, large outstanding debts, etc.

But these plans also come with higher premiums due to their extended duration, making them less affordable for those on a tight budget or who have pre-existing health conditions.

On the other hand, simplified issue life insurance provides quick access to coverage at lower premiums without requiring extensive paperwork or medical exams. These policies are perfect for those looking for short-term protection but don't want to pay high premiums or go through lengthy underwriting processes. Ultimately, when deciding whether simplified issue or term is right for you, it’s important to weigh all factors carefully before making a final decision.

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Simplified Life Insurance Vs Guaranteed Life Insurance

Getting a guaranteed policy like burial and final expense is very simple and does not require any medical tests, blood work, or extensive health questions.

This translates to a bigger risk for the insurance companies, thus the premiums are higher and death benefit lower - usually less than $25,000. It's just enough to pay for funeral costs and other final expenses.

On the other hand, a simplified issue policy will ask more lifestyle and health questions to minimize the underwriting risk. This allows the insurance companies to offer higher death benefits and cheaper prices.

Simplified issue life insurance policies typically have cheaper premiums than similar guaranteed issue life insurance policies.

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Pros At A Glance:

  • Fast Approval
  • Application is Shorter
  • No Medical Exam or Blood Tests
  • Cheaper Than Other Guaranteed Options

Cons At A Glance:

  • Graded Death Benefit*
  • Costs More
  • Limited Death Benefits
  • Limited Availability

*Graded Death Benefit
If an insured person dies within two years of getting a simplified issue policy, their beneficiaries will usually only receive a refund of the premiums paid, plus some interest.

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Average Costs of Simplified Life Insurance

Policy rates always depend on the perceived death risk of the applicant. So, things like age, medical history, and hobbies are taken into account by the underwriters.

Here are some examples of premiums for a a thirty year old man and woman in good health - 10-year simplified policy with a $100,000 death benefit.

Insurance Company Plan Name Male Female
MassMutual Haven Simple $142.25 $108.10
Fidelity Life Insta Term $175.44 $158.95
National Western Rapid Issue Life Term $205.18 $180.76
United of Omaha Term Life Express $214.54 $182.25
American-Amicable Easy Term 10 $233.98 $189.11
Foresters Strong Foundation $251.97 $207.55
Columbian Life Safe Shield $285.87 $232.24


Simplified issue life insurance is an excellent way to get coverage without the inconvenience of a medical exam. It's important to understand the differences between simplified, guaranteed issue, and term life insurance so that you can make an informed decision about which option is best for your present needs.

For those who don't want to subject themselves to a full medical exam or simply want a quick approval process, simplified issue life insurance may be the perfect solution. According to LIMRA International, over 80 percent of policies issued in 2018 were sold as simplified issues products—a clear indication of their growing popularity among consumers.

No matter what type of life insurance you choose, it pays to shop around and compare rates from different insurance companies before making any decisions. This is the only way you'll know you'll be getting the best prices.

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