Is It Possible to Get a Life Insurance With No Medical Exam and No Waiting Period?

Availing life insurance is not an easy task. There are different steps to follow, so much information asked, forms to fill-in, long phone calls with agents, medical exams, waiting periods, and such. People don’t want to go through this hassle. Sometimes it’s even the process that makes them not want to buy an insurance policy. This is why Instant Life Insurance exists today.

Many insurance providers offer to provide you with instant life quotes online without having to take an exam or having to go through endless phone calls. Some websites stay true to their words while some, on the other hand, will have you provide them with the information over long phone calls. If you are looking for a sure hassle-free instant life insurance quote, try Simple insurance.

As you acquire a life insurance quote in an instant, without a medical exam, you can also get approved online for the instant life insurance you want in just under five minutes.

Online Instant Life Coverage

Yes, it’s possible! With the advent of technology, there’s so much that we can do online. One of which is applying and being approved of a term life insurance online. You can apply via the internet or by phone. Without an exam or a waiting period, you can be approved of coverage. No agents.

However, as enticing as it may sound, you may want to know more about instant life insurance first. Some people think it’s the same as term life insurance and the only difference is having it online. It differs from a traditional life insurance policy and later we will know how. For now, let us get down to business and know more about the instant life insurance policy.

Instant Life Insurance

The notable difference between an instant life insurance policy is the approval process and underwriting. The same payment options and types of coverages will be offered to you just as a traditional term life insurance policy. You can decide on your death benefit with the amount of coverage you will want to leave for your family’s financial security. It is also still your choice on how long you want your insurance policy to last. Your term length can be 2, 10, or 20 years. Moreover, you have the right to choose who you want to receive the death benefit you will leave in the future.

Comparison of Instant Issue Life Insurance Policies

1. Instant Issue Term Life Insurance

With this insurance policy, your coverage can be up to $1,000,000. Application for this insurance policy does not require any exam, waiting periods, or agents. As mentioned above, real-time underwriting is one of the features of an instant issue of life term insurance.

2. Instant Decision

In having this feature, you may be required for an exam and there may be a possible waiting period, although the underwriting is still real-time. There are no agents in this transaction. With the instant decision, you are expected to receive regular premiums.

3. Instant Approval

Instant Approval does not require any exams. Additionally, there is no waiting period in this instant insurance policy. It also offers real-time underwriting while also having no agents required to be dealt with. Also, with instant approval, premiums are slightly higher than others.

4. Traditional Term Life Insurance

The coverage in this insurance policy can be up to $25,000,000. There are more term lengths that you can choose from a traditional term life insurance. Your term length can last either 5, 10, 15, 20, or 30 years in terms. The downside of this is that there are an exam and a 3-4 weeks waiting period. The underwriting process needs to be accomplished still. Term Life insurance requires you to transact and deal with an agent. The advantages of the traditional term life insurance are the large coverage while having lower premiums than most.

Life Insurance with No Medical Exam and No Waiting Period

Most insurance providers will require you to take a medical exam. To get a medical exam, you may have to incur fees to accomplish it. More so, in getting an insurance policy, some people wait for as long as 3 to 4 months. The hardest part of this is having to wait for months only to get declined. This is why more and more people nowadays prefer getting instant life insurance.

Instant Life Insurance: How It Works

Here is an overview of what to expect when you undergo the process of acquiring an instant life insurance policy:

1. The first step in acquiring an instant life insurance policy is getting an instant quote without having to provide personal information. Most traditional term life insurance policies require you to provide information like your name, your phone number, and email address. More so, some insurance providers online may offer instant life insurance policies, but still, get this information for a quote. That’s not very instant.
2. The second step is to accomplish the online application process. After receiving an instant life insurance quote, and having chosen the coverage that meets your needs and wants, you may complete the easy online application process. The application, being online, is available 24/7. These are easy to follow as it is as straightforward as it can be.
3. With just that, you are already at the final step of the process! You probably want to know how instant this is. As you fill out your application, typing in everything you need, real-time underwriting is happening. This means as you type in all your information in the application form, a decision making for your approval is already happening based on your answers. Your driving records, medical history, prescription drug history, life insurance history, credit score are pooled to come up with the type of client you are and decide at the end of your application process. The answers you may get are approved and declined. One approved, you can proceed to pay for the instant life term insurance policy. Typically, people who have applied for the instant life insurance policy online, pay with either a credit card or debit card. Still, you can also get declined. The insurance provider you have chosen will most probably email you with the reason/s as to why you were declined from acquiring the policy.