Guaranteed Issue

Guaranteed Issue

The legal requirement for an insurance company to issue a policy to an applicant regardless of his/her level of risk. This especially applies to health insurance. For example, an insurance company may be compelled to issue a policy to a person with a pre-existing condition. In general, higher risk policyholders still must pay a higher premium for their insurance. In the United States, Obamacare mandates guaranteed issue of health insurance.
References in periodicals archive ?
Evidently, the issue is that the major carriers have not been interested in bidding on a guaranteed issue group plan for the Bar members because of the vast range in age (young and veteran) and health.
The redesigned plan allows brokers and agents to offer higher monthly disability benefits, improved guaranteed issue options and simplified underwriting to their clients.
Supreme Court on the question before the court of whether to overturn a lower court ruling that the individual health insurance mandate included in the Affordable Care Act can be "severed" from the guaranteed issue and modified community rating provisions.
Guaranteed issue is offered for coverage up to $20,000.
Those affected by the withdrawal qualify as an "eligible person" under the Medicare supplement guaranteed issue provisions.
Life programs with guaranteed issue amounts of $25,000 down to one employee and multiple disability plans with guaranteed issue amounts for even the smallest companies.
There are six laws that comprise small group market reform: (1) guaranteed issue, (2) reinsurance, (3) ratings, (4) renewal, (5) portability, and (6) minimum loss ratio.
Consistent with trends, pressure to liberalize guaranteed issue guidelines was the most common response.
Guaranteed issue policies do not require you to take a medical exam; however, these applications may ask questions at the start and you must be 100 percent truthful or risk having your coverage voided at a later date.
Allstate Workplace Division in September introduced two voluntary group critical-illness policies that offer guaranteed issue based on group size, participation and benefit amount selected.
Guaranteed Issue and Disability Protection Round Out Life Product Offerings for Small Businesses
The product offers guaranteed issue for qualified employer groups, spouse and dependent coverage, an assortment of riders and compensation programs that reward producers for the quantity and quality of business sold.
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