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Guaranteed Issue Definition

A policy or certificate where the applicant must be accepted for coverage if the applicant is eligible.  Eligibility requirements may include:

  • Being within a specified age range
  • Being an active member in an eligible group (e. g. group solicitation in direct marketing)

Inclusion in any of the following characteristics or product types disqualifies the policy as GI:

  • Actively at work requirement
  • Employer groups
  • Acceptance based on any health related questions or information
  • Waiving of underwriting requirements based on minimum participation thresholds, such as for worksite marketing
  • COLI / BOLI
  • Credit Life Insurance
  • Juvenile-only products (e. g. under age 15)
  • Pre-Need