How instant issue term life insurance is different
Instant issue term life insurance couldn’t be more different from regular term life insurance. And with our new product from Bestow, the price is often just pennies more than regular term life insurance.
No medical exam
Instant issue term life insurance does not require a medical exam. That means no needles, no bloodwork, no urine samples. Instead, underwriting is done by pulling your public records, such as financial and pharmacy records. Aside from these, you’ll be asked to answer a few simple health questions.
No waiting period
Instant issue term life insurance has no waiting period. When your application is submitted, depending on the company, an application is made in minutes or seconds.
This makes instant issue life insurance extremely convenient for these specific cases:
- A business loan that requires a life insurance policy to secure finalization
- A divorce that requires a life insurance policy that lists the children as beneficiaries
To illustrate just how small the gap is between instant issue and regular term life insurance, we’ve created the following sample rates.
The following rates are based on a 30-year-old non-smoker male in good health.