Guaranteed Issue
(redirected from Guaranteed Issues)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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved