instant life insurance

All You Need To Know About Instant Life Insurance

In the modern world, where one can order anything home with the help of online shopping, what happens when it is time to buy insurance? Buying insurance might seem extremely slow and tedious when you are so used to purchasing anything you need instantly—until recently, getting life coverage was a very long and complicated process. The number of procedures and forms one had to fill to obtain life coverage was frightening.

However, these days it has become relatively more accessible and faster with the introduction of instant decision term insurance plans. Instant insurance is just what it sounds like. Within the blink of an eye, you can cover millions of dollars by ordering online. Instant decision term insurance plans will range from as low as $25,000 to as high as $3,000,000, within a few minutes. That’s how advanced and convenient technology has made the lives of people.

What Exactly Is Instant Life Insurance

True to its character, instant life coverage is instantaneous and easy. You can apply for it online in a span of a few minutes. It is so convenient because it does not require many formalities like

medical examinations. Most people find it difficult to get insurance because of these countless formalities.

However, this plan is still different from the usually guaranteed plan that most people are accustomed to. This new plan is based on a procedure called accelerated underwriting that roughly calculates the rates. The insurer or the agent channels all the collected information about the client into a specific algorithm and then uses the data to estimate your risk of early death.

This information and the whole procedure of accelerated underwriting help your coverage company to quickly decide and provide you with instantaneous coverage at the moment of need. Instant decision term insurance plans will range from as low as $25,000 to as high as $3,000,000, so making a decision should be easy. The average span of this new plan is between 10 to 30 years.

How Does This Plan Function

The process for this plan is straightforward and requires no complications since it is entirely digital. It is divided into three small stages.

●    Application

First, you apply for the plan online. For that, you have to fill out a few forms that provide the company with your name and other personal details. It also asks a few questions regarding your way of living and other habits.

●    Database Collection

Next, the company will seek your permission to access your database and gain some additional knowledge about you. They can connect to your prescription database and study the medications that you have been taking. They can even access your driving record to check and see if you have violated any traffic rules in the past.

The company also sometimes checks your database through other coverage companies. They do this to examine your record about your previously selected insurance plans.

●    Decision

Finally, you will get a reply about the company’s decision based on all the information they have about you. Once you are done with the first and second steps, there are three plausible outcomes and await the final decision.

The first possible result is that the company has approved your insurance. The company found no harm in your legal history or information about you that would stop them from covering your insurance.

The second result could be that you have been denied being covered by the company. People should understand that while it is quick and straightforward to apply for this plan, it is not assured that you will be covered. Based on the information that you have provided and your history, the company might have found a reason to deny your coverage.

The last outcome could be that your case has been referred to an underwriter. Companies or agents do this to find out more information about the client. The underwriter visits you to learn more about your lifestyle and other factors.

Read ➤ Globe Life Insurance


So this is all the essential information you must have before applying for an instant insurance plan. It can be a fast and user-friendly process. However, there are no guarantees that you may qualify for the procedure.

The information contained on this page is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness, or timeliness. As the information contained on this page is provided by an independent third-party content provider and hence there are no warranties or representations in connection therewith.

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