What is the purpose of "simplified issue" health insurance?

The purpose of "simplified issue" health insurance is to offer insurance without requiring extensive medical underwriting. This type of insurance is designed to streamline the application process, making it easier and quicker for individuals to obtain coverage. Applicants typically only need to answer a few health-related questions, and the lack of extensive medical evaluations can benefit those who may struggle to qualify for traditional health insurance policies due to health issues or complicated medical histories. This approach also addresses the needs of consumers who prefer a more straightforward and expedited process for acquiring health insurance, thus making healthcare more accessible to a broader audience.

The other options reflect misconceptions about simplified issue health insurance, such as requiring extensive medical underwriting or full medical exams, which are contrary to its defined purpose. Additionally, limiting policies to high-net-worth individuals does not align with the intent of simplifying the insurance process for a wider range of applicants.