How Can I Get Instant Life Insurance?

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  | Published: 26 October 2021

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The instant life insurance policies enable individuals to submit applications for a life insurance policy and instantly get an insurance cover. These insurance policies do not usually require a medical examination. Some life insurance providers might require you to answer a medical questionnaire during the application process. These questions play a major role in the approval process. 

In this fast-paced world, we are so used to getting things done at the tap of a mere finger, that even getting insurance has become instantaneous. Traditionally, the lengthy application and approval process associated with the insurance industry often seems tiring to many. There is a ton of paperwork that one needs to fill up that is composed of in-depth questions. Other than that, one also has to go through a bunch of medical tests and procedures. Even after that, getting your application approved can involve a long waiting period to finally get an approval. 

But just like the world is changing, so is the insurance industry. Many companies have come forward to offer an instant life insurance policy. One can skip through the long and tedious process of getting a life insurance cover, and in some cases even skip the medical examination.

How does Instant Life Insurance work?

While applying for such an insurance cover, you have to know that the insurance provider will try to retrieve information about you from various sources like your driving records, past medical records, and medical history among many others, as a part of their verification procedure. This sensitive information is vital as it influences whether your application is approved or not or how high your premium rates are going to be. 

The quotes for these policies are easily available across various domains online. Once you submit your basic information as well as your application, the insurance provider will soon let you know if you are approved for a cover or not. 

In exceptional cases, you might even have to undergo a physical medical test like several blood tests and urine samples. In other cases, you might be spared the hassle of even a medical test but this depends purely on your insurance provider.

How to get an Instant Life Insurance cover?

The procedure involved in getting instant life insurance is not that complicated. It’s pretty easy. Let’s see the steps involved in getting this type of an insurance policy:

  • Do a simple online search to find out a reputable insurance provider that offers instant coverage on life insurance 
  • Enter some basic information about yourself such as name, date of birth, gender, email address, phone number, etc
  • You will immediately be introduced to a bunch of different companies offering instant life cover along with their quotes
  • As soon as you find a provider whose policies best meet your needs, click!
  • Request for an application to be sent to you. These applications are completely online-based and can be easily filled 24*7
  • Enter some basic health information about yourself
  • You will have to allow the insurance company to do a background check on the information you have provided. Companies are usually very thorough with the background check, collating information from various sources to check whether they are genuine or not.
  • The amazing aspect of these instant life insurance policies is that the underwriting is simultaneously happening in real-time while you fill out the application form
  • Once the background check is complete you will be contacted by the insurance provider, informing you whether your application has been rejected or approved. Once approved, enjoy the benefits of instant life insurance.

It’s that simple and instantaneous!

How is an Instant Life Insurance cover different from other life insurance policies?

With extensive computing tools available today, insurance providers have become masters of predicting the life expectancy of an individual, thereby ascertaining a premium rate with greater accuracy. The young and healthy are able to reap the benefits of low premium rates, that too without undergoing a medical examination, while the older have to pay slightly inflated rates. 

These policies can be compared to simplified issue life insurance, which is given approval with minimal questioning related to your medical issues and does not require the applicant to clear a medical test. But the simplified issue life insurance can prove to be way more expensive than those life insurance policies that mandatorily require a medical exam. 

Similarly, a guaranteed issue life insurance also does not require a medical examination. One only has to answer a few simple questions during the application process and viola! You get a life insurance cover. However, it is quite expensive and the death benefit is also not payable for the first two to three years that the policy is active. 

As opposed to these, the instant life insurance policy keeps its rates competitive with the life insurance policies available in the market traditionally.

Difference between Instant life Insurance and Traditional life insurance policies: 

Instant Life Insurance

Traditional Life Insurance

Offers a term option of 5, 10, or 20 years

Offers a term option of 5, 10, 15, 20, or 30 years

No waiting period

3-4 weeks waiting period

No need to deal with insurance agents

Have to deal with insurance agents

Comparatively higher premiums

Lower premiums

Real-time and instantaneous underwriting process

Lengthy underwriting process

No medical exam required

Medical exam required


Benefits of an Instant Life Insurance:

There are several benefits to such an insurance policy. Here are a few of them-

  • Quick and easy application process that lasts approximately five minutes
  • Online payment using credit or debit cards
  • You can get different quotes instantaneously
  • No requirement for an insurance agent
  • No medical check-ups 
  • No waiting period of three to four weeks like in the case of other life insurance policies
  • If you qualify the insurer’s requirements- Quick approval
  • A completely online-based procedure that massively reduces the amount of paperwork you have to do

These benefits set apart the instant life insurance policies from their counterparts. If you are in dire need of an insurance policy, such a policy could prove to be your knight in shining armour!

Drawbacks of an Instant Life Insurance

In order to offer you a complete understanding of these policies it is vital to list some of their drawbacks as well. So here are certain downsides to choosing these policies- 

  • The higher premium prices. The price gap between these and traditional policies can not be overlooked
  • The cover amount is minuscule as opposed to other life insurance policies
  • While it might be instant, it is certainly not guaranteed. Approvals might not be easy to get
  • No extra benefits in the form of living benefits or return of the premium term etc

Who is most suitable to avail an Instant Life Insurance?

Practically anyone can choose to avail of the benefits of an immediate life insurance cover. Regardless of that, it is important to know that these policies are targeted towards the more younger sections of the society who are fairly in good shape and keep fit. If you are a senior citizen or you suffer from some chronic health issues, you might not be approved for such policies. However, if your medical issues are not that severe, the insurance provider might request you to undertake a physical medical test but you are most likely to get approval. Once approved, your cover will be instantly active but the ultimate price you are going to pay for the policy will only be decided once you get your test results back. Some companies might even wait for the results before activating coverage. Nevertheless, anyone who does not qualify to get a traditional life insurance policy can choose these policies instead. You can also opt for these if you are simply afraid of needle or anything to do with a hospital!

Why get Instant Life Insurance?

There are obvious reasons to apply for an immediate life insurance cover. In most cases, your coverage will be activated as soon as the application is approved after a background check. Hence these policies are tempting to those who are looking for instantaneous coverage without having to wait weeks for approval. Those who want the cover to be effective without indulging in the long and tedious process involving excessive paperwork. Other than these people, this type of life insurance policy is also appealing to those who are planning to achieve certain milestones like take a trip, or perhaps have a baby, and so on. 

In a Nutshell

The option of instant life insurance makes the process of getting a life insurance cover extremely easy. No lengthy waiting periods and coverage that’s instant! It reduces the amount of procrastination people often indulge in while trying to buy a life insurance policy despite it being a necessity. Hence, there is no longer an excuse for you to not get a life insurance cover that protects you and your family.