A guaranteed issued policy has no

• A. Premiums
• B. Medical underwriting
• C. Deductibles
• D. Exclusions

Answer: (B)

Guaranteed issue means the insurer does not require medical questions or a medical exam to issue the policy. Because of that, there is no medical underwriting involved—the policy is offered regardless of the applicant’s health, within age and other basic eligibility limits. The trade-offs typically include higher premiums or lower benefit amounts and possible waiting periods or exclusions, but the defining feature is the lack of health-based underwriting. Premiums are still charged, and deductibles aren’t a standard feature of this type of policy, though exclusions can exist for certain conditions or during a graded-benefit period.