What is simplified issue final expense insurance?

What it means

• Simplified issue sits between fully underwritten life insurance and guaranteed issue. Instead of an exam and full medical records, the carrier asks a short application questionnaire — about tobacco use, recent hospitalizations, cardiovascular conditions, and a small number of "knock-out" conditions — and issues a decision in minutes to days.
• Because the insurer knows more about the applicant's health than it does under guaranteed issue, simplified-issue policies are priced lower per dollar of coverage and almost always offer immediate, level, full-benefit coverage from the first day the policy is in force. If an applicant cannot pass the health questions, guaranteed-issue is the fallback path.