Most insurers offer term life insurance policies and permanent life insurance policies, which include whole and universal life. Term life covers a certain term length, such as 10, 20 or 30 years, while permanent life policies provide coverage for your whole lifetime. Some insurers offer “instant issue” or “no exam” policies that let you buy coverage with no medical exam required and usually no health questions asked.
The application process for instant life coverage is typically straightforward and you can complete it online in minutes. You’ll be asked to submit basic information like your name, address, birth date, gender and Social Security number.
Insurers typically use one of two types of medical underwriting when evaluating applications for instant life insurance: accelerated underwriting (AU) or traditional underwriting (TW). Accelerated underwriting algorithms analyze data such as prescription histories and motor vehicle records. Traditional underwriting requires a more detailed review, including collecting blood work samples from applicants if necessary.
Yes, most instant issue policies have age restrictions that vary by insurer. Check each provider’s requirements before applying. Immediate issue policies tend to have higher age limits than other forms of life insurance since they don’t require any medical exams or waiting periods.
Premium payments vary based on your age and health condition, while death benefits depend on the amount of coverage you select when you buy a policy. Instant issue applicants can expect higher premiums than traditional permanent or term life insurance policies because of the lack of medical underwriting required.
