What is Guaranteed Life Insurance?

Guaranteed Life Insurance is the type of insurance which is suited for people aged 50 years and above. The key feature of this kind of policy is that there are no health details required to be given to the insurer. While calculating the premium, the insurance company does not take into account any existing or new health conditions.

Premium remains the same

Guaranteed Life Insurance is a level term policy, where the premium remains the same throughout the term of the policy and there will be a fixed lump sum payout to the beneficiaries if you die.

Sum assured offered are much lower

However, since there is no medical disclosure required to be given for this type of policy, the sum assured is not very high. Some insurers give a maximum of £20,000 as the sum assured.

Suited for people with a medical condition

It is particularly useful for people who are already ill but would like to have a life cover, as they have been rejected insurance due to their prevailing medical condition.

Maximum age limit

However, it is important to note that there is a maximum age limit in Guaranteed Life Insurance. These age limits vary across providers and range from 75, 80, 85 going up to even 100 years old.

Reasons for having Guaranteed Life Insurance

Another feature that marks this insurance policy is the different kind of requirement that the policyholders of this insurance have. Like the level term, most people who take guaranteed life insurance have no major financial responsibilities. They have no mortgage to pay and their children might have left home. However, they just want to cover against funeral expenses and leave no debts for the family to repay, or simply leave some money with the family.

Certainty in payout

Since the sum assured is fixed and guaranteed there is a certainty about how much your family will receive in case of your death.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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