Pro:
Provides approval and coverage in hours (in some cases, minutes) with no exam required.
Con:
Can be more expensive compared to a traditional, fully underwritten term life insurance policy.
Who It Is Best For:
Ideal for someone looking for affordable coverage with the quickest possible approval time.
Instant Issue Term Life Insurance
Last updated: May 5, 2018 at 13:27 pm
Are you looking to get quick term life insurance without the hassle of a medical exam and long detailed background form, combined with the weeks of waiting for underwriting to approve you? Instant issue term life insurance with no waiting period is exactly what you need to get the coverage you need now, without dealing with the headaches.
Situations in life happen fast sometimes and waiting for an underwriting decision may not be a luxury you can afford. It could be a business loan requiring a life insurance policy at the last minute to secure the finalization or a divorce decree requiring life insurance coverage and listing the children as beneficiaries. In situations like these, instant life insurance could be the answer you are looking for.
Instant Issue Life Insurance Comparison Chart
| Issue Amount | $50,000 – $500,000 | $50,000 – $400,000 | $50,000 – $400,000 | $10,000 – $100,000 |
|---|---|---|---|---|
| Issue Age | 18 – 50 | 18 – 80 | 18 – 80 | 18 – 64 |
| Convertible To Whole Life Policy | Yes, during years 1 – 5 | Yes | Yes, for the first half of the term | No |
| Living Benefits | No | Yes | Yes | Yes |
| Price: (37 year old male, non-smoker in California for $100k in coverage) | $24.99 per month | $23.28 per month | $33.31 per month | $67.92 per month |
With instant issue term life insurance, the process is quick. Answer a few short questions above and get a quote on your coverage. From there, simply begin the application with a few more questions about your health and begin finalizing your policy with one of our agents. In as quick as a few minutes, you will know if you qualify and what the final price of the life insurance policy will be. Compared to traditional life insurance policies that can take weeks, you now have same-day instant issue term life insurance coverage within minutes.
Also known as non-medical life insurance, instant issue life insurance is best suited for people in good health and between the ages 18-60. For young and healthy individuals, rates for instant issue coverage may be end up being cheaper than a fully underwritten policy in some cases. Term lengths are usually 10,15, and 20 year terms with coverage amounts ranging from $25,000 to $500,000.
While there is no medical exam involved, it is important to be honest about your medical history. In the event you were to die and/or the company discovers the answers provided are not accurate during the contestibility period (typically 2 years from the start of the policy), the policy can be cancelled and any claim denied. Honesty in life insurance is always the best policy.
One of the easiest policies to obtain, instant issue (non-medical) life insurance can be the solution needed to obtain the coverage in the shortest time possible with no medical exam.
Rated 4.9 out of 5 based on 63 Ratings
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