While some traditional life insurance policies are known to require a lengthy application process and medical underwriting, instant life insurance has emerged as a convenient and efficient alternative.
What is instant life insurance?
Instant life insurance, also known as simplified issue or no-exam life insurance, is designed to provide coverage quickly and without the need for a medical examination or doctor appointment. Instead, you’ll typically be asked to answer a few health questions. This type of insurance is particularly appealing to individuals who want immediate coverage or those who may have health issues that could complicate the application process for traditional life insurance.
How instant life insurance works
To make getting an instant life insurance policy as easy as it sounds, here’s a step-by-step breakdown of the process:
Start with an online application
The instant life insurance process typically begins with an online application. Insurance companies offering this type of product are usually all about having a streamlined application form to gather the necessary information quickly. Some of the basic information you’ll need to provide will likely include:
- Age and gender – These are the key factors in figuring out the rate you’ll pay.
- Occupation – What you do for a living can help insurance companies determine your risk level such as if you do a dangerous or stressful job or how sedentary you may be during working hours, which may impact your fitness level.
- Lifestyle habits – Whether or not you smoke is one of the main questions, but you may also be asked about how often you exercise, if you’re up to date on health screenings, how active you are, if you have any potentially dangerous hobbies, and other such questions.
