Unlike regular term life insurance, instant issue term life insurance has no medical exam. Additionally, there is no waiting period. When an instant issue policy application is submitted, a decision will be made in minutes, if not seconds.
As the technology age advances, the ability to instantly write a life insurance policy becomes more commonplace. With instant issue life insurance, you can request a quote in the morning and have your policy in place by dinner (and in some cases, even sooner). Using consumer reports and databases across the U.S., life insurance companies are able to analyze your risk more quickly and underwrite your policy instantly.
This is often not the most affordable life insurance option. However, as technology evolves and improves, the cost of this type of life insurance is becoming lower. An instant issue is a great option for those who need a quick life insurance policy for legal reasons or for securing a business loan.