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This kemper guaranteed issue life insurance review was written to help high-risk, seniors or their loved ones get answers to their questions about Kemper Life Insurance. With many no exam life insurance companies to choose from, it can be challenging to pick the right one. It’s not uncommon for people to experience information overload when shopping for insurance, so we are here to help with the process.
What You’ll Learn
About Kemper Life Insurance
Kemper Senior Life Insurance Ratings
Policy Overview & Rates
Pros of Kemper Guaranteed Life Insurance
The Cons of Kemper Guaranteed Acceptance Life Insurance
Alternatives to Kemper Guaranteed Issue Life Insurance
Ready to shop and get your questions answered? Call us today for a free life insurance consultation and instantly receive rates across multiple guaranteed acceptance insurance companies.
If you’re not ready to call, no problem! Continue reading to see if Kemper Life Insurance is the right carrier and offers the right product for you. In this review, we’ll discuss the company, it’s financial ratings, policy information pros and cons, and offer our professional recommendation.
Let’s go ahead and dive in.
About Kemper Life Insurance
Kemper Life and Health Insurance is a subset of Kemper Corporation, which offers auto, health, home and life insurance products. Across all departments, Kemper Corporation has more than 6 million active policies, $8 billion in assets and employs over 6,500 associates.
Benefits distributed through Kemper Life and Health are provided by Reserve National Insurance Company. This is a stable and financially strong company known for their attention to its policyholders. They’ve served thousands of rural Americans for over 55 years and are a member of the Better Business Bureau of Oklahoma, the Oklahoma State Chamber of Commerce and the U.S. Chamber of Commerce.
Kemper Senior Life Insurance Ratings
Any good review of Kemper Life Insurance includes a mention of the company’s ratings. Technically, because insurance benefits are issued through Reserve National Insurance Company, we will include their ratings.
According to A.M. Best Company, a leading insurance rating company in the country, RNIC has an “A-” (Excellent) rating. This is a very high rating and refers to the financial stability of the company. Essentially, you can trust that your benefits will be paid out to your beneficiaries.
Kemper Guaranteed Issue Life Insurance Policy Review
The Kemper Guaranteed Issue Whole Life policy available through Kemper Senior Solutions is a policy perfect for high-risk, final expense, or mature adult coverage. This policy does not require you to answer health questions in order to qualify and is available for people as young as 40, which is unique.
Let’s go ahead and look further into the plan.
Policy Overview & Rates
Face Amount Range: $5,000, $10,000, $15,000, $20,000, or $25,000
Age Availability: 40 – 80 (40 – 75 in MO)
State Availability: All
Graded Period: 24 months
Premiums Returned: 20%
Riders: None
How to Apply: Through both captive and independent agents
Pros of Kemper Guaranteed Life Insurance
Guaranteed Acceptance Whole Life
If you have any major medical problems that deem you uninsurable or makes other policies too costly, this policy is a great fit for you. There are no medical questions and no medical exam, which means you cannot be denied coverage for any reason. If you can pay your policy, then you will have coverage.
As a whole life policy, this policy does come with inherent benefits including:
- Locked in premiums that will never increase
- Policy cannot be cancelled on you due to health reasons or age
- Fixed death benefit that cannot decrease
- No health question or lab tests
- Accidental death covered in full during first two years
- Full coverage after two-year graded period
The two-year graded period is the mandatory waiting time an insured must survive in order for the full coverage amount to be paid. With Kemper, the graded period is the common 24 months (two years), which offers reduced payout for any cause of death other than accidental. If death does occur by accident, the full policy amount will be paid. If death is from natural causes, such as a critical health impairment, then the premiums plus 20% will be returned.
This 20% is more generous than other policies and is a much higher return than you would ever receive with investments elsewhere. So do not worry; in the event of an early death, the money will still have gone to good use.
Available at Age 40
Kemper is one of the few life insurance companies that will insure people in their 40s. The majority of guaranteed acceptance products are available to those starting at age 50 and above. If you are younger and are considered uninsurable for other types of life insurance policies, Kemper could make an excellent choice.
The Cons of Kemper Guaranteed Acceptance Life Insurance
Set Policy Amounts
With Kemper, you are limited to purchasing a policy in set face amounts between $5,000 and $25,000 (in increments of $5,000). This limits your ability to find the absolute perfect amount for your unique needs.
With other carriers, you are able to customize your coverage amount as long as it fits within their window. Considering guaranteed acceptance policies are designed to assist with final expenses, burial/cremation costs, small debts, medical bills, and more, it is always nice to be able to select your desired amount. This could be $17,000 for one person and $8,500 for another.
Pro Tip: Before you purchase any policy, we suggest you sit down with your loved ones to determine what your exact need for insurance is and then find the right policy for you that blends price and value.
More Expensive Than Other Life Insurance Options
Kemper is more expensive than many of the other affordable guaranteed acceptance products we review on this site. As an example, let’s look at the price of a $20,000 policy for a 55-year-old male and female.
$20,000 for 55-year-old male with Kemper: $121.84
$20,000 for 55-year-old female with Kemper: $106.77
Let’s contrast this with one of our top no questions carriers, AIG:
$20,000 for 55-year-old male with Great Western: $110.85
$20,000 for 55-year-old female with Great Western: $77.71
For males, the monthly difference is $11, which would equate to over $1,320 in savings over just the first 10 years of the policy being in force. For females, the difference is even greater! With a monthly difference of 29.06, a female would save $3,487 in just the first 10 years. Those are huge savings for both males and females and should be a major factor when selecting a guaranteed acceptance policy.
If you’d like to stop here and compare quotes across multiple carriers, we suggest using the complimentary quoter on this article page. These quotes will be individualized for you and your birth date so you can feel confident in knowing what your options are.
Alternatives to Kemper Guaranteed Issue Life Insurance
If you need simple, easy coverage without having to answer medical or health-related questions, Kemper is certainly an option. However, it is just one of many options for you. With full transparency, we cannot say whether or not Kemper is the right choice for you without speaking with you first.
So the best alternative to Kemper Guaranteed Issue Life Insurance is electing to work through an independent insurance brokerage that can shop across many carriers and can then answer your questions honestly. You could be spending an unnecessary amount of money or receive a policy that doesn’t quite meet your individual needs.
When you work with an independent agent, you will know that the policy you receive is the best deal and provides the right value to you and your family.
Is Kemper Guaranteed Acceptance Life Insurance Right for You?
We are not a life insurance company, we’re an independent brokerage that has partnered with dozens of the country’s top guaranteed acceptance companies. We have sold tens of thousands of policies to people just like you over the phone, and we have decades of experience with the products available. It is our job to stay on top of industry changes and product advancements so you do not have to.
Since we work with Kemper Life Insurance and many of the other best insurance companies available, we are in a position to help you identify the most appropriate policy for you. To do this, we’ll first learn more about you and the needs of your family and then offer you quotes and options for the best type of life insurance policy for you.
So what’s stopping you? Give us a call today at 949-480-9638 or try using the instant quoter on this page for accurate options.
Thanks for reading this article about Kemper Guaranteed Issue Life Insurance.
