Simplified issue life insurance is a type of policy that requires a health questionnaire but no medical exam. The application process is faster and less invasive than fully underwritten policies, making it an attractive option for individuals who want coverage quickly or prefer to avoid the medical exam process. Approval decisions are typically made within days rather than weeks.
The health questionnaire for simplified issue policies typically includes 10 to 20 questions about current health conditions, medications, hospitalizations, and medical history. Based on the answers, the carrier may approve or decline the application. Some carriers also check databases such as the Medical Information Bureau (MIB) and prescription drug records to verify the accuracy of responses. Unlike guaranteed issue, simplified issue can decline applicants with certain health conditions.
Simplified issue policies are generally available in higher coverage amounts than guaranteed issue — typically up to $250,000 to $500,000 depending on the carrier and the applicant's age. Premiums are lower than guaranteed issue but higher than fully underwritten policies, reflecting the carrier's reduced ability to assess risk without a medical exam. Most simplified issue policies do not include graded death benefit periods, meaning the full death benefit applies from day one.
For individuals in reasonably good health who want a faster application process, simplified issue can provide competitive coverage at a moderate cost. It fills the gap between the thorough but time-consuming fully underwritten process and the no-questions guaranteed issue approach. A licensed agent in our network can help evaluate whether simplified issue, full underwriting, or another approach provides the best combination of speed, coverage, and cost for your needs.