A guaranteed issued policy has no what?

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Study for the Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Exam. Familiarize yourself with key concepts through engaging questions and explanations. Prepare effectively for your exam!

Multiple Choice

A guaranteed issued policy has no what?

Explanation:
Guaranteed issue life insurance is issued without assessing health, so there is no medical underwriting involved. This means the insurer must offer coverage regardless of the applicant’s health history, relying instead on the policy’s other terms. The policy will still have a premium and a defined death benefit, and there may be exclusions or a waiting period, but the defining feature is that medical underwriting is not used to determine eligibility.

Guaranteed issue life insurance is issued without assessing health, so there is no medical underwriting involved. This means the insurer must offer coverage regardless of the applicant’s health history, relying instead on the policy’s other terms. The policy will still have a premium and a defined death benefit, and there may be exclusions or a waiting period, but the defining feature is that medical underwriting is not used to determine eligibility.

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