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Instant Issue Life Insurance… Are they for real?

We work with the top rated no exam life insurance companies in the United States. If you need an instant issue life insurance policy we can help steer you to the best company at the best price based on your unique circumstances.

Call us today  so we can introduce you to all the life insurance with no medical exam and no waiting period options available to you. Please be aware that this type of policy is not always the best choice. With that in mind, there are some things you should consider before purchasing instant issue life insurance.

Instant Issue Life Insurance

Life Insurance approvals in 24 hours

Since most of us here at TermLife2Go originally worked with one the larger, nationwide insurance brokerages, we can honestly say that collectively, we have literally spoken with tens of thousands of clients over the years and know from this experience that many people can end up buying the wrong type of life insurance for their families simply because the want to get “covered” right away!

We Sell Instant Issue Life Insurance Policies!

Let me repeat this, “TermLife2Go agents do sell instant issue life insurance policies” and will quite often recommend them to our clients. However, these policies will only be offered as one potential option for you to consider.

Why do we do this?

We do this because we have found that, in general, the most unsatisfied customers that we encounter, are one’s that have purchased an instant issue life insurance policy from another life insurance company only to learn later on, that the life insurance policy that they purchased, was not what they thought it was!  In fact most of the top 10 life insurance mistakes can often be attributed to individuals looking to buy an instant issue life insurance policy!

This disconnect is usually caused by both parties: the customer and the life insurance agent.

Let us explain:

We’ll frequently get a call from a client who:

These clients will also tend to be in a hurry and don’t completely understand why there are so many questions involved in getting approved for life insurance.

But it’s not their fault! After all, aren’t we all exposed to about 10 or 15 commercials a day offering life insurance with little or no medical questions asked!

But the truth is, these types of policies that promise insurance coverage with or without any medical questions/exam, are likely to have “exceptions” built into the insurance policy designed to protect the insurance company against a loss (ie. Not paying a claim due to an insured’s death).

Exceptions such as:

  • Not providing coverage for “Natural” causes of death… Accidental Death Policies.
  • Or not covering “Natural” causes of death for a set period of time, such as for the first two or three years that you have had your life insurance policy in place (Graded death benefits).

Don’t believe this is true?  Well ask yourself have you ever really sat down and read your auto insurance policy?  Or how about your home owner’s insurance policy?

If you have taken the time to read them then you would know that in most auto insurance policies there’s an exclusion for:

  • Property damage to property owned by the insured. (So if you hit your own car, you can’t make a liability claim).
  • Or how about for liability arising out of the ownership or operation of a vehicle being used for “livery conveyance.” This means using your vehicle in transportation of goods or people for payment.
    • I wonder how many pizza’s are being delivered by people today who have no idea they have no auto insurance while doing so!
    • Or what about the latest UBER trend? Do you honestly think that everyone of these drivers is aware that they don’t have any personal auto insurance while on “the job”?

It’s even worse when it comes to home insurance whereby exclusions such as:

  • Mold damage.
  • Floods, earthquakes, landslides.
  • Aggressive dog breeds.
  • Sewage backup.
  • Luxury items.
  • Power outages.
  • Etc, etc…

I’m telling you, after you’ve taken the time to actually read all the fine print, you’ll start to wonder…“Just what does my insurance even cover anyways!”

So let’s get back to buying an instant issue life insurance policy

Client calls in:

  • They don’t want to answer a bunch of questions!
  • They don’t want to take a medical exam!
  • They don’t want to pay a lot of money!
  • They just want to get insured right away!
And BAM!
They end up buying something that isn’t right for them.

 

What we do at TermLife2Go:

Step 1: Give the client what they want

Someone calls in demanding an instant issue life insurance policy, we jump right into it and provide them with the best options available given the amount of information that they’re willing to provide.

Mainly:

  • Date of Birth.
  • Citizenship.
  • State Residency.

Based on these three facts, we should be able to provide several different 24 hour life insurance approval options for them to choose from.

Step 2: Is the client willing to answer a few medical questions?

Such as:

  1. Has any proposed insured used tobacco in any form within the past 12 months?
  2. In the past seven (7) years, has any person to be insured been diagnosed by a doctor as having heart trouble, stroke, cancer, lung disease or disorder, diabetes, liver or kidney disease, organ transplant, paralysis, loss of 2 or more limbs, blindness, AIDS, AIDS related complex, or immune deficiency, mental illness requiring medication, treatment for alcoholism or drug abuse or has been hospitalized or advised to have any diagnostic test or surgery for any condition?
  3. In the last seven (7) years have any of the proposed insured’s used narcotics, cocaine, hallucinogens, barbiturates, heroin, marijuana or any other drugs not prescribed by a physician?
  4. Have you ever been denied insurance due to health reasons?

If they are willing to answer these questions, and it looks like they are relatively healthy, our instant issue life insurance options should begin to increase.

 Step 3: This is the TermLife2Go difference

Once we have a few options on the table, we’ll begin to breakdown any “negatives” about the options that we have found.

For example, instant issue life insurance can:

  • Be more expensive than non-instant issue life insurance policies (see exam vs no exam).
  • Can have few options than non-instant issue life insurance polices.
    • Lower policy limits.
    • Shorter term periods.
    • Not guaranteed renewable.
  • Can have stricter underwriting guidelines (only the healthiest can qualify).
  • Can have additional exclusions:
    • Graded Death Benefit.
    • Exclusion on “natural” causes of death (accidental death policies).
Step 4: Propose a fully underwritten term or whole life insurance option

Once we’ve presented the instant issue life insurance options, we then present the alternative, a fully underwritten term or whole life insurance policy option.

Now in most cases these types of policies will be less expensive, and thus less profitable to us here at TermLife2Go, but the difference is, these are generally the better policies for our clients.

Which means, that should you decide to go this route, you’ll be much less likely to decide to cancel your policy in the future, which means…

“We here at TermLife2Go have done our job!”

So when is an Instant Issue Life Insurance Policy a good choice?

There are several types of clients where an instant issue term life insurance policy makes sense.

Wait, wait, Really!

For some, if they choose to go with a fully underwritten term life insurance policy, they might encounter questions during the application process that would make getting life insurance more difficult if not impossible.

Question such as:

  • Within the next two years do you anticipate traveling outside of the United States?
    • There are many different countries that insurance companies view as an unacceptable risk such as certain parts of Mexico, India, Columbia, or all of Haiti, Iraq, Iran, Syria, etc..
    • For clients who find themselves traveling to these countries they would be better suited to apply with an insurance company that does not ask about travel destinations.
  • Have you ever been convicted of a felony?
  • How about a recent or multiple bankruptcies?
    • bankruptcy is another non-medical question that many life insurance companies use to screen out potential applicants.

It’s questions like these and dozens more that make it so hard to insure clients who simply want to “rush” through the application process.

It’s also why we here at TermLife2Go often times have more success with applicants who have already been declined life insurance in the past simply because they now know just how difficult getting insurance can be, and are much more likely to appreciate our expertise!

Super healthy people, or those that think they are

Super healthy people, or those that think they are can also be good candidates for instant issue life insurance. The reason being is that they haven’t been diagnosed with a medical conditions or prescribed any medications as of yet.

So in other words, they are perfect on “PAPER”. 

This of course can all change pretty quickly once they let a life insurance company perform a medical exam on them because that’s when many common conditions may arise that will affect the outcome of your life insurance application.  Conditions such as:

And now since this has been learned and documented, insurance companies will now use this information to either, increase the cost of one’s insurance or potentially deny one’s application completely.

For these folks we’ll often suggest getting life insurance first, and then they are free to spend the rest of their life looking for a better deal on their life insurance since they already have coverage in place.

(Preferably they would use TermLife2Go to find this other, better, less expensive life insurance coverage.)

Don’t like needles and can’t stand doctors!

We get it, there are just some people that don’t like needles and can’t stand doctors.  For these people, if they can qualify, an instant issue life insurance policy is the right options regardless of price.

The Judge said I need life insurance… YESTERDAY!

Divorce decree’s and child support settlements will often need life insurance policies in place ASAP.  For these folks, we’ll often suggest getting an instant term life insurance policy in place to satisfy the courts mandate and then, once things have settled down, we’ll pursue a fully underwritten life insurance policy that may be more affordable.

But what about if…

We here at TermLife2Go understand that the world is made up of:

“What abouts…” and “What ifs…”

The “What about/if…” question is what has made us so successful today.  We here at TermLife2Go understand that every client is unique, with their own needs and wants, which is when a new client calls us, our first question will be:

“What got YOU thinking about buying life insurance?”

Without knowing what you want to achieve by buying life insurance, we’ll never know how to best serve you!

So rest assured that at the end of a call with a TermLife2Go agent, you’re going to know exactly what your options are, and have a complete understanding of what you’ll need to do to ensure your family’s financial protection.

So what are you waiting for?  Give us a call today and see just what we can do for you!

About TermLife2Go

We work with dozens of the top rated best life insurance companies in the United States. We stay on the cutting edge of the various niches within the life insurance world. This allows us to tailor a policy to each client’s individual need so that we place that client with the best company at the best price for that specific client. Our team of seasoned life insurance professionals will take the time necessary to provide you with the right product as well as service second to none.

We do not favor one life insurance company over another. Instead, we find out what you need and then we recommend the lowest priced, best life insurance company to meet your specific need. Therefore, if price matters to you, give us a chance to earn your business. We are here to serve you! Give us a call today or simply enter your information into our quote form.

Thank you for reading our article, Instant Issue Life Insurance… Are they for real? Please leave any questions or comments below.

2 comments… add one
  • Ronald Dinges

    In Bankruptcy and attorney advised to get life insurance. Is this possible?

    • Ronald,

      In order to be able to properly answer your question, we would need to know the answer to a couple of things. Mainly, what type of bankruptcy you are declaring and second what does your overall health look like.

      Knowing whether you are in the middle of a chapter 7 bankruptcy where all debts are usually dismissed (excluding student debt), most insurance companies want to wait until your bankruptcy has been resolved prior to moving forward with an approval.

      Now if you are declaring a chapter 11 or 13 bankruptcy, where payments on the dept will be required, most insurance companies will be willing to move forward with an application assuming you are up to date on your payments and have a full time “documented” job.

      Lastly there are a few non-medical, AKA simplified issue life insurance policies that may prove to be a possibility, assuming that you are in relatively good shape, not taking any prescription medication (or not taking any prescription medications for a serious condition) and have a relatively clean driving record.

      So as you can see, there are a lot of options, we just need to narrow down which will work best for you. So give us a call when you have a chance, and we’ll be happy to review your situation.

      Thanks,
      TermLife2Go.

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TermLife2Go Mission

To empower our customers through knowledge and expertise so our clients secure the best and most appropriate insurance coverage available providing peace of mind to our clients and their loved ones.

About TermLife2Go

Our licensed professionals have over two decades worth of experience and will help you choose the best life insurance company for the lowest price based on your specific needs and lifestyle. Find out more about us here.