Reader’s Question:

My wife and I are both working full-time and hardly have any time to research a life insurance policy and all the work that goes with it. I want to purchase a policy in New York, New York NY soon but don’t have the time. I think I have already heard of instant life insurance which can be purchased online. Any suggestions?

Aaron

New York, NY

Term life insurance companies have introduced Instant Issue Policies. Life insurance companies have seen the problem of the traditional life insurance applications being a time consuming and frustrating process. Thus the revolution of instant issue life insurance policies which can usually get approved or denied within 10 minutes of completing the online application. Most carriers will allow applicants to secure life insurance policy by paying online with the use of a credit card.

You don’t really need to talk to another person, not even an insurance sales person from Atlanta, Georgia. There will be no medical exams required to put the policy into effect which can be appealing to most people who just don’t want to go to the trouble of a medical exam.

Given the convenience in getting instant life insurance though, I see one trade-off. Instant life insurance coverage levels are generally less at a slightly more costly monthly premium. The insurance company offering this service will usually increase the cost because they are willing to underwrite a person without any medical exam.

Tags: instant life insurance, no exam life insurance, no medical exam