|
Our Glossary of life insurance terms
A -
B -
C -
D -
F -
G -
G -
H -
I -
J -
K -
L -
M -
N -
O -
P -
Q
-
R -
S -
T -
U -
V -
W -
X -
Y -
Z
-
Misc
Guaranteed Issue
In group insurance, this is the maximum
amount of insurance that will be issued without the need to
provide evidence of insurability.
If the group is acceptable, the insurance company dispenses with
individual underwriting (For example, a whole life policy may
offer a guaranteed amount of £20,000 for applicants under age
35.) The guaranteed issue feature reduces policy issuing costs
and premiums.
Return to
G
|
|