Can seniors get guaranteed acceptance life insurance?

Yes. Guaranteed issue life insurance requires no medical exam and no health questions, and applicants cannot be turned down for medical reasons. Insurers typically limit it to older applicants, often up to age 80 depending on the company. Coverage amounts are small, usually $5,000 to $25,000 and sometimes up to $50,000, and premiums are higher than for medically underwritten policies. Most policies include a graded death benefit, so beneficiaries receive a limited payment if death occurs within the first two to three years.