Guaranteed Issue

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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.
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government securities" may include guaranteed issues of U.S.
WRITTEN AGREEMENTS APPROVED BY FEDERAL RESERVE BANKS
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