Guaranteed Issue Life Insurance is a special type of Final Expense Insurance available for an individual with serious health issues and would only qualify for a policy that does not require medical questions or an exam. 
 
Individuals may want this type of guaranteed issue policy because it does not require health questions; however, they must be aware that there is usually a two—or three-year waiting period before benefits are paid.

If the insured dies during the waiting period, the beneficiaries will not receive the policy’s death benefit. They will, however, receive a return of the premiums the policyholder paid—plus interest, usually at a rate of around 10%.
If you are healthy, this would not be the best plan for you because the rates are higher, and coverage does not start on day one.