There are three main ways a new life insurance policy is priced: Underwritten policies are those where you answer questions on your personal and family medical history and undergo a medical exam arranged by the insurance company; a simplified issue life insurance policy application asks you some medical questions but does not require a medical exam; and a guaranteed issue life insurance policy requires no questions and no medical exam. If you’re healthy, or even if you have a few medical problems, you’re likely to get the best insurance value from an underwritten policy, which is priced specifically for you. Simplified issue and guaranteed issue life insurance policies set a price that assumes risk that you may not have. Read more...