Guaranteed issue life insurance is a type of whole life insurance policy with level premiums that guarantees a small death benefit, typically $35,000 or less, depending on the company. It doesn’t require that you answer any health questions or take a medical exam — anyone is eligible to purchase a policy, provided they meet age requirements (typically, you must be at least 45 years old). For this reason, guaranteed issue life insurance is much more expensive than simplified issue life insurance, which requires that you answer some health questions.