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Franklin Madison introduces guaranteed issue life insurance up to $50,000

The new policy, administered by Franklin Madison, does not require health questions or medical exams and includes an accelerated benefit for qualifying terminally ill insureds to access up to 90% of coverage.

Reported · Written up by our desk · Life Insurance

Franklin Madison has introduced a guaranteed issue life insurance product issued by Prudential Financial, enabling eligible consumers to buy up to $50,000 in coverage through their financial institution, according to Coverager.

The product is administered by Franklin Madison and is designed to require no health questions, medical exams, or review of medical records, and it offers guaranteed acceptance for eligible consumers, with no waiting periods and no age-based reductions in benefits.

The policy also includes an accelerated benefit that allows qualifying terminally ill insureds to access up to 90% of their coverage during their lifetime, with coverage subject to policy exclusions, limitations, and restrictions.

Coverager also noted that Franklin Madison provides insurance administration and marketing services to more than 3,500 financial institutions nationwide, including banks, credit unions, and affinity organizations, and it continues to offer insurance and annuities alongside financial planning and investments.

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