Guaranteed purchase option – define at the-definition.com – Guaranteed purchase option refers benefit that can be added to a life insurance policy permitting the insured to purchase additional amounts of life insurance at specified times in the future without requiring evidence of insurability.
The future purchase option is also available with long-term care insurance, which is designed to cover extended nursing care costs, such as a long stay in a nursing home.
Young Buyers Should Avoid Guaranteed Purchase Option (GPO. – One option in particular, the Guaranteed Purchase Option, is often offered as a rider, but young buyers should stay away from this rider to avoid future financial disaster. Details of Rider. The Guaranteed Purchase Option, or GPO, is typically offered as a form of inflation protection to applicants.
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guaranteed the ability to purchase additional coverage each time an option is exercised. Additional coverage can be purchased at specific ages or at specific life events. Your free online quote for children ages 0 to 15 is available with Guaranteed Purchase Option rider coverage amounts of $10,000, $35,000 and $60,000. You can
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