Instant Issue Life Insurance Policies

Instant issue life insurance is now available up to $3 million from several top life insurance companies. Instant issue life insurance simply means that the insurance company approves the policy typically within 18 minutes or even sooner. This means if approved you will have same-day coverage for the full policy amount with no waiting period!

Instant issue or instant-decision (same-day) life insurance  works by either completing the application online or over the phone and the insurance company checks several databases instantaneously to determine if you are eligible for a policy and at the final rate.

Does instant issue life insurance cost more?

In 2024, there are is now a top life insurance company that does not charge more the no-exam instant issue life insurance policy. In fact, if approved, the rates are typically in the top five lowest term rates in the entire county for most age and price bands! There is no difference in their no-exam instant-issue rates and their rates that require the medical exam.

Who is eligible? 

Instant issue term life insurance policy amounts are available from $100k to $3 million for applicants between the ages 20-60 years old.

Instant issue life insurance is reserved for applicants that are in good health, with a low risk to the life insurance company. This is due to the fact that they are not conducting the typical life insurance medical exam nor looking at your medical records.

Which health classes are available?

The risk classes for instant issue life insurance are: standard (average health), preferred (second best risk class) and super preferred (#1 risk class).

What term lengths are available?

Instant issue term life insurance is available for 10, 15, 20 and 30 years level duration.

Is there a waiting period?

There is no waiting period for an instant issue term life policy. Coverage begins immediately after the policy is approved and the first payment is made.

Are there any exclusions?

Instant issue term life insurance policies that we offer have the same two exclusions that a fully underwritten life insurance policy has. 

1. There is a two-year incontestability clause. This means if you misrepresent or lie on your application and die in the first two years of the policy the insurance company can contest and deny the claim.
2. There is a two-year suicide clause. This means if you commit suicide in the first two years of the policy the insurance company will deny the claim.

Is there a conversion option?

Yes, one of our favorite instant issue term life insurance policies has a conversion option to permanent life insurance included at no-cost with the policy. Conversion rules state you can request to convert your term policy to a permanent policy prior to the end of the 10th policy anniversary or prior to age 70, whichever comes first.

Is there and accelerated death benefit rider?

Yes, one of our favorite instant issue term life insurance company/policy includes an accelerated death benefit rider at no-cost which allows up to 75% of the policy's death benefit ($500k maximum) to be accessed in advance if a licensed physician certifies that you are terminally ill with less than 12 months to live. The amount is paid out in a lump sum. The insured can use the proceeds however they wish.

How much does instant issue life insurance cost?

Let's take a look at the current rates for instant issue life insurance.

*$100k 15-year level term policy: $9 month

*$250k 10-year level term policy: $12 month

*$500k 30-year level term policy: $49 month

*$1 million 20-year level term policy: $48 month

*$3 million 20-year level term policy: $135 month

-Rates for a 40-year old male, non-smoker in excellent health at the super preferred health class.

Who is the ideal candidate for instant issue life insurance?

Instant issue (decision) life insurance is ideal for basically everyone that qualifies since the rates are the same as with the exam and includes the accelerated death benefit rider and conversion option (with select insurers). The typical applicant for instant issue life insurance are those seeking: family protection, income replacement, mortgage protection, SBA loan life insurance requirement or divorcee decree life insurance requirement.