What is a guaranteed issue life insurance policy?

The name says it all

While young and healthy people rarely have trouble finding affordable life insurance coverage, the story can be quite different for those with serious health conditions or a history of smoking.

Being turned down for life insurance is certainly no fun, and many of those at risk applicants may want to look for a guaranteed issue life insurance policy.

As the name implies, guaranteed life insurance provides guaranteed coverage, with no health exam required. While the premiums may be a bit higher, no one is turned down.