What Does Guaranteed Issue Mean Life Insurance? 
Guaranteed issue life insurance usually has a minimum age requirement -LRB- age 50 is a common one , but varies -RRB- . It also has a low maximum face amount -LRB- often under $ 25,000 -RRB- . And guaranteed issue policies are generally graded during the first 2-4 years , which means that they would pay out a reduced benefit , or return all your premiums plus a little extra , if death occurred due to illness . Sometimes , what is commonly called guaranteed issue life insurance does not actually live up to the title . E.g. . There may be a clause that the applicant can not be residing in a nursing home . So be sure to read the fine print to see if a guaranteed issue policy will work for you or your loved one . But also keep in mind that there are many simplified issue policies available that someone might qualify for by just covering a few health questions with a knowledgeable agent . 