Fastest Life Insurance Options [Top 3 Ways To Secure Coverage]

quick and fast term life insuranceDisclaimer: We are not “Fast Life Insurance Agency”. We are an agency that offers all the fast life insurance options available on the market.

In this short article, we’ll will show you the fastest ways to secure life insurance. You can have a policy in force within 25 minutes if you qualify…but read this article first so you know what to expect.

We speak with people every day who need to secure life insurance coverage fast. Whether you need it to secure a loan, want to make sure you’re protected before you go on vacation or just feel the need to get the process done quickly – we can help.

Securing life insurance is an inconvenience, we get it. You want to protect your family, but the process of getting life insurance isn’t appealing at all. This article will discuss the 3 ways to get life insurance FAST.

It’s important to understand that the fastest life insurance options won’t require a medical exam. With that said, you’ll be paying a little bit more than a traditional life insurance policy that requires an exam.

QUICK ADVICE: What most consumers do if they want coverage in force quickly and without the hassle, is to buy life insurance with no exam. Then later down the road apply for a traditional policy to lower their premium and cancel the coverage they get today. There are no penalties or fees associated with cancelling a term life insurance policy.

So get coverage in force today, then replace it later down the road when you have the time.

With that said, there are 3 ways to get fast life insurance options:

Instant Issue Life Insurance: Immediate Decision

Instant issue life insurance will give you a decision on the spot after a 25 minute phone call with a licensed agent.

Currently, you can get instant issue life insurance for up to $1,000,000 of coverage, but you need to be in average or better shape.

Instant issue life insurance companies will run a live check on your MIB (Medical Information Bureau), Pharmacy Report and Motor Vehicle report. If you’ve applied for life insurance before, they’ll see some information on your previous application in the MIB report and if you take any medications, they’ll see those on the Pharmacy Report. The Motor Vehicle Report, the life insurance company is simply checking for any reckless driving, DUI’s or excessive speeding tickets (as in more than 2 per year).

If you don’t have any health issues, don’t take any medications and have a fairly clean driving record (speeding tickets are fine, just not in excess), you’re good to go with instant issue life insurance.

If you have some health or lifestyle issues, it’s still possible to secure coverage, but it needs to be under control. For example, if you have diabetes – you can potentially get coverage if it’s under control and you were diagnosed over age 50. Every health condition will be different.

Just know that instant issue life insurance is a “black and white” approval. They look at data from the 3 agencies I mention above, along with the answers to your questions on the application and make a decision. This means that you may have a health condition and have everything under control, but the automated underwriting may still decline you – and that’s ok, you can still qualify for fast life insurance coverage…you’ll just need to use another route – simplified issue life insurance.

Also keep in mind that instant issue life insurance is more expensive than traditional fully underwritten coverage.

If you can qualify, Sagicor Life Insurance will go up to $1,000,000 of coverage and you can get a decision instantly. Their pricing is only a little more than fully underwritten if you’re in good health and you can qualify for their preferred rates. They also have a Standard and Rated health class for those with minor health issues.

Simplified Issue Life Insurance: Decision Within 48 Hours

Simplified issue life insurance takes up to 48 hours for an approval. Just like “instant issue” life insurance, there is no exam and costs more than fully underwritten coverage.

It uses the same process of checking the MIB, Pharmacy Report and Motor Vehicle Report along with your answers to the questions on the application to make a decision.

There aren’t very many instant decision life insurance options available on the market, but there are plenty of simplified issue life insurance options available.

Simplified issue life insurance comes in 4 different forms:

  • Term coverage (Up to $1,000,000)
  • Burial coverage (Up to $40,000)
  • Guaranteed universal life (Up to $250,000)
  • Indexed universal life (Up to $300,000)

The most common are term and burial coverage – I’d estimate they make up 97% of all simplified issue sales. There are only a handful of carriers writing guaranteed universal life and indexed universal life on a simplified issue basis.

With all that said, there are over 30 burial insurance products and over 15 term products underwriting on a simplified issue basis.

Our current recommendation is using Foresters Life YourTerm. It’s got the best value currently. You get living benefits which will pay out a portion of the death benefit if you get diagnosed with cancer, have a heart attack, stroke or other triggers. They also have member benefits such as scholarships for children. They aren’t the cheapest (or the most expensive), but the living benefits make it worth it.

If you want to lower the cost of the Foresters policy, you can use their accidental death benefit rider for a portion of coverage which will lower the price of the policy – however that portion of the death benefit only pays out in the event of an accident. But you keep all the living benefits. And lets face it, if something god forbid does happen unexpectedly, it’s likely to be an accident.

Accelerated Underwriting Life Insurance: Decision in 3-7 Days

This is the cheapest way to get life insurance fast, however it takes 3-7 business days and if you don’t qualify for accelerated underwriting, you’ll need to take an exam.

We don’t consider this true “no exam” coverage because if you don’t meet the requirements, you’ll have to take an exam. Think of it as applying for a traditional fully underwritten policy, but you MIGHT qualify to not have to take the exam.

Keep in mind, you have to be in good health. If there’s any health issues, you won’t qualify for accelerated underwriting.

What many consumers will do is apply for an accelerated underwriting policy and if the company ends up requiring the exam, you can just cancel the application and go apply with a simplified issue carrier (which will cost more).

Most life insurance companies are coming out with some form of accelerated underwriting. Companies like Protective, North American, American National, Principal and Banner Life all have accelerated underwriting programs using their traditional fully underwritten rates.

Bottom Line

If you’re looking for fast life insurance, you have a lot of options.

Whether you need coverage to secure a business loan quickly or just want coverage to protect your family quickly, we can help. We can have a policy for you in force within 25 minutes if you qualify. Now that’s FAST!

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About Jeff Root

is the owner of He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

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