More and more clients these days prefer the instant life insurance approval options in comparison to the old traditional approval process for life insurance, which can take up to 150 days from the point of application. There are a few different life insurance options for instant approval but the main question clients need to figure out is if they want a medical exam or not?
If a medical exam is not in the cards then a popular consumer choice is purchasing a term insurance policy that offers an instant life insurance approval. The application can typically be signed online after speaking with an agent, with an approval being generated in about 20 minutes to 24 hours! This policy has been a popular choice because of the simplicity and ease of getting coverage.
Another option of purchasing instant life insurance is an accidental death policy. This type of policy also does not require a medical examination however the coverage will be limited to an accidental death, such as: car accidents, natural disasters or anything outside your physical control. A third type of policy that offers instant life insurance is called a guaranteed issue policy, this type of policy does not ask any health questions. The guaranteed issue life insurance option is issued on a graded death benefit where if the insured were to expire during the first 2 or 3 years of the policy a portion of the death benefit is paid out. If the insured were to pass away after the first 2 to 3 years then the full death benefit would be paid.
If the consumer is willing to take a medical exam there is still an option for instant life insurance approval under a new underwriting approach pioneered with certain life insurance companies. This has by far been the preferred method to obtaining the best rates for insurance while still getting a guaranteed initial coverage in about 20 minutes to 24 hours. The maximum total amount of insurance under this plan is $1 million which is typically an adequate amount of life insurance for the middle income family. The main benefit of taking the medical examination will also be a lower premium payment for the insured and the medical exam is payed for by the insurance company so it does not cost the consumer anything. This product is not available in all states and will require agent assistance so if you wish to get an accurate quote and obtain instant life insurance in as little as 20 minutes give us a call today at 877-805-9624.