Fast Approval Life Insurance Coverage

  • Fast Approval Life Insurance Coverage

Fast Approval Life Insurance Coverage

In most cases, purchasing a life insurance policy can be a very simple process. Depending on the individual applying, the general time frame for a life insurance policy to be approved from start to finish can take up to 4 to 6 weeks.

4 to 6 weeks however can be a long time for someone who needs a life insurance policy fast. In this article we are going to discuss what fast approval life insurance is and the life insurance companies you should consider if you need life insurance coverage fast.

Top Quote Life Insurance offers the best fast approval life insurance companies available. If you need life insurance coverage quickly, give us a call at (888) 777-7574 and will help get you covered fast!

 

Fast Life Insurance Approval in as Little as 15 Minutes!

Life insurance approval in 15 minutes, what’s the catch? We often get this question from our customers who have contacted Top Quote Life Insurance needing life insurance coverage quickly. The answer we tell them, there’s no catch. As the life insurance industry keeps evolving, new and exciting coverage features become available.

One of these features is the ability to get fast life insurance approval in as little as 15 minutes. Currently there are a few life insurance carriers that offer fast approval life insurance coverage. These select few companies have designed a very simple, affordable and convenient way to apply for life insurance coverage and receive an approval anywhere from 15 minutes to 72 hours.

 

What to Expect When Applying for Fast Approval Life Insurance Coverage

The process when applying for traditional life insurance and fast approval life insurance is very similar. However, the biggest difference is the total process time when you apply for fast approval life insurance. Below is a list of what is typically required should you apply for fast approval life insurance coverage.

ELECTRONIC APPLICATION PROCESS – With an electronic application process there is no need fill out a lengthy paper application. The life insurance application is simply done over the telephone with a Top Quote Life Insurance agent and generally takes 15-20 minutes. The electronic application will consist of your basic information, as well as some questions pertaining to your overall health history. Once we have completed the electronic application it will be sent you to by email for your electronic signature. After you have e-signed your application it will then be routed to the life insurance company to begin underwriting.

NO MEDICAL EXAM (SIMPLIFIED ISSUE) – The benefit of fast approval life insurance is that it does not require a medical exam. This means you do not have to meet with an examiner or provide a blood or urine sample.

MEDICAL HISTORY CHECK – Since fast approval life insurance does not require a medical exam or labs, the life insurance company needs a way to verify your health history. One of the ways for the life insurance company to do this is by obtaining a copy of your Medical Information Bureau (MIB) report. Your MIB report keeps track of anytime you have applied, been approved or declined for disability income, critical illness, chronic illness, health or life insurance. Your MIB report can also contain information pertaining to any credit history, drug use, any medical conditions both personal as well as family. This information is critical to the life insurance company in making their decision for approval.

PRESCRIPTION CHECK – In addition to your medical MIB report, the life insurance company will also run a check on any prescriptions that have prescribed to you. The prescription report will give the underwriter insight not only on the prescriptions you are currently taking but an idea as to what the prescriptions are treating.

MVR CHECK – A Motor Vehicle Report (MVR) check is used to verify your driving history. The life insurance company will run your MVR to verify if you have multiple traffic violations or a recent DUI/DWI.

TELEPHONE INTERVIEW – Depending on the life insurance carrier, a telephone interview may be required. Telephone interviews are usually ordered by the underwriter when they need additional information pertaining to your health history. Telephone interviews are a great way to avoid having to order medical records which can slow the process of getting fast approval life insurance coverage. 

APPROVAL TIME – Depending on the life insurance company, fast approval life insurance coverage can be done within 15 minutes to 72 hours from when the application has been submitted.

 

Top 5 Fast Approval Life Insurance Companies

Need life insurance coverage fast?  Consider any one of the following (A) rated fast approval life insurance companies. Top Quote Life Insurance offers:

American National Insurance Company (ANICO)

ANICO offers fast approval life insurance coverage with their Signature Term Express. Signature Term Express is simplified no medical underwriting term life insurance. Underwriting approval can be made in as quick as 48-72 hours of the application being submitted.

COVERAGE BONUS: Signature Express policies come with a free policy rider called Accelerated Benefit Riders. This rider allows for the option to obtain cash from the policy’s death benefit due to a qualifying terminal, critical or chronic illness.

  • Policy name:ANICO Signature Term Express
  • M. Best’s Rating:A
  • Type of policy:Simplified No Medical Exam
  • Issue age:18-65 (Depending on coverage length)
  • Term lengths:10, 15, 20 & 30 year
  • Health classification:Standard
  • Minimum coverage amount:$50,000
  • Maximum coverage amount:$250,000

 

Assurity

Assurity’s LifeScape NonMed Term 350 is no medical exam simplified issued term life insurance coverage. Their fast approval life insurance can offer coverage in as little as a few days.

COVERAGE BONUS: LifeScape NonMed Term 350 comes with a free critical illness rider. This rider allows for the option to obtain cash from the policy’s death benefit due to a qualifying critical illness.

  • Policy name:LifeScape NonMed Term 350
  • M. Best’s Rating:A-
  • Type of policy:Simplified Issued No Medical Exam
  • Issue age:18-65 (Depending on coverage length)
  • Term lengths:10, 15, 20 & 30 year
  • Health classification:Standard Plus & Standard
  • Minimum coverage amount:$50,000
  • Maximum coverage amount:$350,000

 

Fidelity Life

Rapid Decision Express is fast approval term life insurance coverage offered by Fidelity Life. If qualified, you can expect approval within 24-48 hours after the application has been submitted.

  • Policy name:Rapid Decision Express
  • M. Best’s Rating:A-
  • Type of policy:Simplified Issued No Medical Exam
  • Issue age:18-65 (Depending on coverage length)
  • Term lengths:10, 15, 20 & 30 year
  • Health classification:Standard
  • Minimum coverage amount:$25,000
  • Maximum coverage amount:$250,000

 

Minnesota Life

Minnesota Life Insurance offers express issue term life insurance with approval time within 1-2 days of submission of the application. One requirement in addition to the application will be a telephone interview regarding your medical history that will be conducted by Minnesota Life underwriting. If qualified, you can expect a fast approval.

  • Policy name:Express Issue
  • M. Best’s Rating:A+
  • Type of policy:Simplified Issued No Medical Exam
  • Issue age:16-55 (Depending on coverage length)
  • Term lengths:10, 15, 20 & 30 year
  • Health classification:Standard
  • Minimum coverage amount:$100,000
  • Maximum coverage amount:$249,999

 

Sagicor

Sagicor Sage Term is our 15 minute approval life coverage company. Yes, if you meet all requirements you could be approved for coverage in a little as 15 minutes. Sage Term also allows you to purchase up to $500,000 in either term life insurance or even permanent life insurance without having to take a medical exam.

  • Policy name:Sage Term
  • M. Best’s Rating:A-
  • Type of policy:Simplified Issued No Medical Exam
  • Issue age:18-65 (Depending on coverage length)
  • Term lengths:10, 15 & 20 year
  • Health classification:Standard & Preferred
  • Minimum coverage amount:$50,000
  • Maximum coverage amount:$500,000

 

Pros & Cons of Applying for Fast Approval Life Insurance Coverage

PROS:

  • It’s fast. If you qualify you could get an approval within 15 minutes to 72 hours
  • No medical exam needed
  • No lab tests required

CONS:

  • Fast approval life insurance coverage generally has limited coverage amounts ranging from $25,000 to $500,000.
  • Your health classification is often limited to the health class of “Standard” even if you’re in excellent health.
  • If you have medical issues it will be harder for you to qualify for fast approval life insurance versus traditional life insurance coverage

 

What to do if you need a Fast Approval Life Insurance Quote

Top Quote Life Insurance represents all of the following fast approval life insurance companies discussed in this article. Quotes for each one of these companies are available here on our website by using our instant life insurance quote form. As always if you need assistance or have question please do not hesitate to call (888) 777-7574 or send us a message below and will help you right away.

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Fast Approval Life Insurance Coverage by Jeffrey Manola Top Quote Life Insurance

2017-08-25T00:47:17+00:00

About the Author:

Jeffrey Manola is the owner and an experienced life insurance agent at Top Quote Life Insurance.

His goal is to provide online consumers with the absolute top quotes for all term life insurance, permanent life insurance and no medical exam life insurance. Not only does he strive to provide you with the best premium for your life insurance coverage, he also wants you to be well informed about life insurance coverage options and its importance.

Never hesitate to reach out to Jeffrey if you need help. Top Quote Life Insurance is more than just an online quoting agency we want to help you save money, protect your future, and earn your trust (888) 777-7574.