Simplified issue whole life insurance might sound like a complicated product, but it really isn’t. It’s basically an insurance policy that covers you from the day that you purchase it until a claim is filed or until you stop paying for the insurance. Simplified issue simply means that there is no health check or medical exam needed, meaning that you can get coverage the same day that you apply in many cases. This is a higher risk for people to have than a policy with a medical exam required, so it will typically cost more.
If you do have pre-existing conditions, you might be better off searching for another policy. These simplified issue whole life insurance policies often include questionnaires that can result in dropped or denied coverage if you have pre-existing conditions or serious medical illnesses. These policies are generally going to range much lower than other life insurance policies, so if you need coverage that is more than $500,000, you might want to consider your other options. With this policy, you can shop online, compare your options, and make sure that you get the coverage you deserve without having to deal with the hassles of a medical exam or waiting period.