Do you need term life insurance in a hurry? Instant issue term life insurance is perfect for people who need it NOW. Most of the time, purchasing life insurance is time consuming and can take anywhere from 4 – 8 weeks. Most policies and most insurance carriers require an applicant to fill out a detailed background and medical form. Then, a paramed exam must be scheduled. After the exam results are reviewed, the applicant will receive a cost quote and a policy will be offered based on the results of the exam and the information provided.
However, there are times when a person needs to get insured immediately. A divorced parent headed to a custody hearing may realize at the last moment that he or she needs to provide proof of life insurance showing the child or children as beneficiaries on their policy. Or, someone planning a trip may realize that their old policy has lapsed and they are in need of new coverage immediately.
In these circumstances, instant life insurance can be a God-send. Applicants can simply answer a few short questions: age, gender, state of residence, amount of coverage and length of coverage desired, and receive a preliminary quote in seconds. If the applicant is satisfied with their preliminary quote, he or she can proceed to answering a few more questions about their health and occupation before receiving a final quote. Within minutes, they will know if they qualify for coverage and the price of their policy. If the applicant decides to accept the policy, he or she can provide their credit card information and print out a policy certificate directly from their home computer. This is one of the easiest policies to apply for. The whole process can be completed in just minutes.
Instant issue life insurance is available for people who are 18 to 60 years old and are in good health. It is often referred to as non-medical life insurance. This does not mean that you don’t need to provide your medical history — you always need to provide your medical history. However, you can skip the inconvenience of a paramed exam and the discomfort of a blood draw. Some people hate to have their blood drawn. Either they have a fear of needles, have veins that are difficult to access, or have had bad experiences in the past. In any case, they would prefer not to submit to a blood draw.
It’s a misconception to assume that non-medical, or instant issue, life insurance is only available for low amounts of coverage. While coverage begins at $25,000, it is offered for up to $500,000, and varying amounts inbetween. It’s also a myth that non-medical life insurance is more expensive than traditionally fully-underwritten policies — or ones for which a medical exam is required. For young healthy individuals, this is not the case and the simpler instant issue policy might actually be cheaper than a fully underwritten policy.
Non-medical instant issue life insurance is generally available for 10, 15 or 20 year terms and applicants will lock in their rate for the entire time of the policy. Just be sure to answer all questions on the application truthfully and completely. If it is discovered that you answered any questions untruthfully, or left out pertinent information, your policy could be cancelled within the first two years and any claim denied.
Instant issue, non-medical life insusrance can be the answer to your prayers. It is the easiest insurnace to obtain an it’s perfect for individuals who need to obtain a policy in a hurry or those who do not want to do a paramed exam. Depending on your individual circumstnces, it can be very low cost and can be completed in the privacy of your home, providing you with excellent coverage at the touch of a button.