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Simplified Whole Life Policies

Fully underwritten Whole Life insurance is best suited for healthy individuals who want stable, long-term protection with lifelong guarantees. It’s ideal for estate planning, leaving a legacy, long-term wealth transfer, or ensuring permanent financial protection. However, it’s not always the best choice for those who need affordable, short-term coverage or who may not qualify due to health concerns. In those cases, Simplified Whole Life or Term Life options may be a more practical choice.
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Simplified Whole Life Key Points:

  • Easier Access: Ideal permanent coverage for individuals with moderate to severe health issues.
     
  • No Medical Exam: Based on a short health questionnaire & automated prescription check vs. physical exam. 
     
  • Faster Approval: Quicker application & approval, often approved same day instead of weeks. 
     
  • Lifelong Coverage: Provides stable protection into old age with guaranteed policy elements.
     
  • Guaranteed Death Benefit: Permanent protection with guaranteed death benefits that never change. 
     
  • Guaranteed Premiums: Fixed premiums for life, locked in from date of issue & never increase regardless of changes to age or health.
     
  • Guaranteed Cash Value: Cash value component that accumulates over time & can be accessed while living in the form of loans. 
     
  • Non-Cancellable: Never can be canceled because of changes to your age or health as long as premiums are maintained.
     
  • Higher Relative Cost: Premiums can be higher than those for policies requiring a full medical examination.
     
  • Lower Benefit Ceiling: Typically capped at smaller face values (commonly $5,000 -$50,000) compared to policies requiring medical examination.
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