Instant Life Insurance With No Exam & No Waiting Period (Get It Today!)

Sep 03, 2018 (0) comment

instant life insurance

I know you are tired of all the websites that promise to give you instant life insurance or no exam life insurance, but end up just taking you through an endless cycle of phone calls and no coverage.

But what if I told you:

Not only is fast life insurance real, but you can get no exam life insurance quotes in an instant, avoid a medical exam, and get approved for instant insurance all online in under five minutes.

In this post today I will explain to you what instant life insurance is, how it works, go over the average costs and show you how to purchase your life insurance instantly over the internet today. 


What is Online Instant Life Insurance?

“In Plain English” - Instant Life Insurance is term life insurance that allows you to get a quote, apply online or over the phone and get coverage approved and in-force all without an exam, a waiting period, or an insurance agent.


You may be able to get a quick life insurance quote and even apply for life insurance online, but at what point does life insurance become instant?


The problem has been; however, that most life insurance companys only offer the first two steps in the process and very few offer the third step actually to make the product an “instant” product.


The main difference between an instant product and a traditional term life policy is the underwriting and approval process.


You still get the same options and types of coverages like any traditional term life policy:

  • Death Benefit - The amount of coverage you want to leave for your family
  • Term Length -  You still get to choose how long your policy  lasts 2, 10, or 20 years.
  • Beneficiary - You still get to pick who you will leave the death benefit to.

Below we will discuss the differences in the different products vs an instant product but first, let's review some pros and cons of an immediate life insurance policy.

Pros of instant Life Insurance

Listing all of the advantages of a product like this is going to be super easy, and you can quickly see the benefits and pros of an instant and fast life insurance policy:

  • Instant Quotes - You get your quotes instantly with little to no personal info required
  • Simple & Fast Application - Your application can be completed in less than 5 minutes
  • No Exam - This policy requires absolutely No Physical Exam, avoid the needles.
  • No Agents - You choose if you want to deal with an agent or not
  • No Waiting - You don’t have to wait for the average 3 - 4 weeks for an Answer
  • Instant Answer - You are either Approved or Declined with accelerated underwriting
  • 100% Online - No Messy Paperwork Required & Super Fast Approval Time
  • Pay Online with your credit card

As you can see, this list is fantastic and I know it seems a bit unrealistic, primarily if you have shopped for life insurance in the past.


However, things are changing fast in the life insurance industry, and I suspect more term life insurance companies will be going to this model soon of insurance with no waiting.


The above benefits easily make no exam the best life insurance policy.


Cons of instant Life Insurance

​It wouldn’t be fair only to show you the best side of an instant life insurance product and not some of the downsides:

  • Higher Prices - Instant life insurance Generally is a bit more expensive
  • Lower Coverage Amounts - Usually you can’t get more than $1,000,000 in coverage.
  • If You Aren’t healthy You Might not qualify - While it is “Instant” it's NOT “Guaranteed”
  • No Additional Riders Like: Return of premium term, Living benefits  

I really tried to come up with some other Cons for this product, but those are the main ones.


And to be 100% honest the “Higher Prices” will probably be going away soon because no exam and instant life insurance companies are really closing in on the price gap.

How Does Instant Life Insurance Work?

​Now that you know what instant life insurance is and some pros and cons, we need to go over how it works so that you can understand what it is, and what it isn’t.


Instant term life insurance quotes

The first step to this process is getting an instant term life insurance quote, if you can’t get a quote without giving up personal contact information like:

  • Your Name
  • Phone Number
  • Email Address

Then you are probably not looking at an instant quote and instead should be preparing yourself for tons of phone calls.


In this day and age, there is really no need for anyone to request the above information just to give you a quote.


So getting an instant quote without needing to give personal information is the first part of the process.


Easy Online Application Process

Once you have viewed your quotes and decided to move forward, you shouldn’t have to request for an application to be sent to you.


These products will have an Instant life insurance application that can be completed 100% online 24 hours a day 7 days a week.


Not only can you access it all online, but it will be effortless to complete and straightforward to follow.


You will be able to compare quotes based on death benefit, issue age or health class if you are looking for coverage for more than one person or just yourself.

 

The whole process shouldn’t take, on average, more than 5 to 10 minutes depending on how fast you type.


Instant Underwriting & Approval

​This is going to be the final step of the process.


The cool thing about an instant life insurance policy is that in the background, while you are filling out your application, the underwriting is happening in real time.


​Real Time means that the application asks questions based on how you answer them and makes decisions of your approval based on this information.


Through the process, it will pull your information for things like your prescription drug history, your driving record, and history as well as your history of applying for life insurance.


It will use all of this information together, and by the time you get to the end of the application, it has an answer for you.


These answers can only be:


Approved - You have been approved for the policy, and now you can make your payment, usually with a credit or debit card.


Declined - You have been declined, and the company will send you an email with a general idea of why you were declined.


Remember if you need high risk life insurance or life insurance after a heart attack, then this isn't the best product for you.


That is exactly how a true no exam instant life insurance policy works, for an even better understanding of the different "instant" products check out our quick comparison charts below.

Why life insurance no medical exam no waiting period

No one is ever ready for the life insurance buying process, and the worst part about it is that no one ever gives you an idea of what to expect.

I have seen countless horror stories online and dealt with them directly sometimes with my customers.

Believe it or not, I have had customers wait over 3 to 4 months just for an answer and sometimes it wasn't an approval, or it was (what we call in the industry) approved other than applied for.

Imagine going through the exam process, and after waiting 4 months, you are finally told that you haven't been approved or that you have been approved, but it will cost you an additional $50.00 per month.


You can avoid all of this heartache by getting life insurance with no medical exam and no waiting period.


No exam term insurance is the only type of life insurance that will give you the fastest answer and the fastest approval.

Unless you need more than $1,000,000 in life insurance, then I would recommend trying to get approved with the no medical exam term route first.

Instant Issue Life Insurance Comparisons

Instant Issue Life Insurance Vs Traditional Life Insurance

Instant Life Insurance


  • Up To $1,000,000 In Coverage
  • ​2, 10, 20 ​Year Term Options
  • ​No Exam Required
  • ​No Waiting Period
  • ​Real Time Underwriting
  • ​No Agents
  • ​Instant ​Answer
  • ​Higher Premiums

​Traditional Life Insurance


  • ​Up To $25,000,000 In Coverage
  • ​5, 10, 15, 20, 30 Year Term Options
  • ​Exam Required
  • ​3 - 4 Week Waiting Period
  • ​Full Underwriting Process
  • ​Need To Deal With An Agent
  • ​Lower Premiums

Instant Decision Vs Instant Approval

Instant ​Decision


  • ​Exam May Be Required
  • ​Possible Waiting Period
  • ​Real Time Underwriting
  • ​No Agents
  • ​Immediate Decision
  • ​Regular Premiums

​Instant Approval​ 


  • ​No Exam Required
  • Life Insurance No Waiting Period
  • ​Real Time Underwriting
  • ​No Agents
  • ​Instant Answer
  • ​Higher Premiums

Instant Approval Vs Guaranteed Issue Life Insurance

Instant ​Approval


  • ​No Exam Required
  • ​No Waiting Period
  • ​Real Time Underwriting
  • ​No Agents
  • ​Instant Answer
  • ​Higher Premiums

​Guaranteed Approval


  • Only Final Expense Life Insurance
  • No Exam | Builds Cash Value
  • ​No Health Questions
  • ​2 Year Waiting Period Required
  • ​No Underwriting
  • ​Need To Deal With An Agent
  • Permanent Life Insurance

​*Simply Insurance Does NOT offer any type of Guaranteed Approval or Issue Products. 


Hopefully you now have a better understanding of what all of these different "Instant" options mean and how they work.


Unless you can't get life insurance traditionally I would avoid any type of graded benefit or guaranteed acceptance type of policy because they are the most expensive life insurance around.


When it comes to term life insurance coverage, no exam might not be the most affordable life insurance option every time, but the rates are solid and the speed to approval is like no other product around.

Sample Instant Life Insurance Quotes

In order to give you an idea of the pricing and prove that you can afford term life insurance, I have created a chart for both a male and female of the same age and health:

Instant Life Insurance Rates For Women

Amount

2 Year Term

10 Year Term

20 Year Term

$100,000

$5.00

$9.00

$10.00

$250,000

$11.00

$13.00

$15.00

$300,000

$13.00

$15.00

$17.00

$400,000

$17.00

$18.00

$21.00

$500,000

$21.00

$22.00

$26.00

*Rates are based on a 33 year old female in preferred health non-tobacco

Instant Life Insurance Rates For Men

Amount

2 Year Term

10 Year Term

20 Year Term

$100,000

$7.00

$10.00

$12.00

$250,000

$15.00

$14.00

$17.00

$300,000

$18.00

$16.00

$19.00

$400,000

$24.00

$20.00

$25.00

$500,000

$30.00

$25.00

$30.00

*Rates are based on a 33 year old male in preferred health non-tobacco

Who Should Buy Instant
Issue Life Insurance?

Healthy People & Young People

The best candidates for an instant issue life insurance policy is going to be people that are young and also people that are healthy.

Your health history is still used to determine your final underwriting decision when it comes to instant insurance policies, so your health is a huge factor in your approval.

The reason this is great for younger people is that the majority of young people will not have been diagnosed with anything and won’t be on any prescription medications.

If you have preexisting conditions like diabetes, have heart problems, or take multiple medications then this probably not the best product for you.

This really is the best life insurance for young adults, especially if you haven’t been diagnosed with anything, aren’t on any prescriptions, and want life insurance without medical exams or records.

People Afraid Of Needles

If you don’t like needles, this is the best option for you because there is No Exam.

For traditional life insurance policies you would have to take an exam, but with an instant issue no exam life insurance policy you are good to go.

Even if you have to pay a bit more per month, it is well worth it to go without the needles.

Someone Ordered By A Judge (Divorce Or Child Support)

One of the most overlooked reasons people need to get life insurance is because of a decree that's given by a judge.

It could be a divorce decree or a child support settlement, and usually, you will need to get this coverage in place extremely fast. 

I had clients that would call me in the past all of the time with this issue, and we almost never were able to help them if they went with the exam route due to the amount of time it took.

When dealing with life insurance and divorce, it’s best to get this coverage in place fast to satisfy the court’s mandate.

If you have this situation, you now have a much faster choice with instant life insurance with no exam and no waiting period. 

Someone Who Can't Get Traditional Insurance (Try Final Expense) 

If you are between the ages of 45 to 85 and have been unable to get covered through traditional life insurance then a Final Expense policy will probably be your best option.


While we don't offer final expense coverage,you can read this great Lincoln Heritage review that goes over how final expense or burial insurance works and also some costs and coverage options

How To Buy Life Insurance Online Instantly

You can buy life insurance instantly over the internet today, as a matter of fact, you can get the whole process completed within 5 minutes.
 
Financial Technology (Fintech) has finally caught up to the life insurance industry, and companies are creating new and innovative life insurance products.
 
The company that stands out the most for instant life insurance with no exam & no waiting period is Bestow.
 
Bestow offers people ages 21 to 55 the ability to buy their life insurance direct online without any exam with their no exam simplified issue life insurance product.
 
All you do is complete a few health questions through a simple application and if you are approved your coverage starts today.

​If you want to buy life insurance online now, ​we think Bestow is best company for the job. 


Top Pick: Bestow

  • Get up to $500,000 of affordable instant issue term life insurance today 
  • Apply online in under 5 minutes,get instant life insurance coverage now 
  • Backed by North American Company rated A+(Superior) by AM Best
  • No Exam, No Waiting Periods, No Agents & No Hassle

You can also check out our awesome review we did on Bestow here.

FAQ’s For Life Insurance With
No Exam & No Waiting Period

​Can I get declined for this coverage? 

Answer: Yes, No exam life insurance still uses your medical history to determine your eligibility for coverage.  

Since there is no exam and the insurance company can only gather information from a few databases they are a bit more strict on the guidelines.  

If you are not approved for an instant no exam life insurance policy it doesn’t mean that you can’t get approved for coverage with an exam so if you aren’t accepted, don’t let that stop you.

​Will my rates ever increase?

Answer: Just like any term life insurance policy, your rates are locked in for the life of the policy term.  

At the end of the term you will be given the option to either renew your policy or get another policy, and at that time you will see a rate increase.

​If I have medical issues, should I consider instant life insurance? 

Answer: It won’t hurt you to give it a shot if you have been procrastinating because you are afraid of the traditional process.

Keep in mind that no exam/instant approval life insurance is more strict on underwriting guidelines and can be a bit harder to get approved for.

If you have an extensive medical history, I would suggest going with the exam route or reaching out to an agent for more specialized help and focus.

Taking Action

The level of procrastination that is usually associated with buying life insurance has all come from the purchasing process.

Those days are now over and soon will be a thing of the past, there is no need to wait any longer.

Now that there is instant life insurance, it's going to be hard to give an excuse as to why your family isn't covered.

The process is no longer going to take you ages to complete, and you can purchase it the same way most of us shop in the 21st century, and that is 100% online and within 5 minutes.

Instant life insurance is now a reality and just a click away, you can click here or on the button below to get started.

sa el, sa re ami el, co-founder of simply insurance

Sa El is the Co-Founder & CEO of Simply Insurance. He is a Licensed Life and Health Insurance Agent with over 10 years of experience in the industry. He is an Entrepreneur, Insurance Educator and Field Underwriter. Sa is on a Journey to get 1 Million Families insured.

Sa El is the Co-Founder & CEO of Simply Insurance. He is a Licensed Life and Health Insurance Agent with over 10 years of experience in the industry. He is an Entrepreneur, Insurance Educator and Field Underwriter. Sa is on a Journey to get 1 Million Families insured.

All posts by Mark Mathon

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