Instant is the watchword of the present generation – instant food, instant communication with cell phones, or instant information on the Internet. In such a world, it was only expected that before long instant insurances policies will be introduced. This is meant to help people get insurance policies quickly without having to go through a time-consuming application process. One of the many types of instant insurance available is called instant-issue term life insurance.
This policy was introduced when it was realized that many Americans in the middle and lower-income groups did not have any kind of insurance term life insurance. To remedy this situation, this new policy was introduced to make it simple to get insurance. Those who do not have the time to spend in an elaborate application process can apply for instant-issue term life insurance and get one approved in an amazing 10 minutes. While this does not mean that everyone will be eligible for this policy, it does mean that the process will be expedited within 24 hours at least.
In a traditional insurance term life insurance, applicants had to often wait even for 6 weeks to get approval, this new instant-issue policy does not require medical tests and hence is speedier. Instant-issue term life insurance amounts can range from $25,000 upwards to a maximum of 1 million dollars. The number of years like other types of term life insurance can vary in multiples of 5 years for a maximum of 30 years. However, this type of term insurances like other kinds does have different rates for different categories of people.
For example, when you request an instant-issue term life insurance quote online, you will be asked about 40 questions concerning various health issues. This will include whether you smoke, drink, or take drugs, age, sex, and other questions. The premiums will be based on the information you provide. Invariable those who do not smoke or drink will get better rates as also well as women. This is because it is generally perceived that women live longer as they lead healthier and more responsible lives.
One factor you must consider is that since the process is instant, the precise calculating process involved is reduced greatly. This could result in the applicant paying higher premiums per month. Also, since insurance companies do not require a complete medical exam to be done, they will automatically consider you are a high-risk candidate and will charge higher premiums to protect themselves. The coverage amounts will also be smaller with this type of term insurances. To protect your interests, ask for several life insurance quotes that will help you make the right choice.
While it is true that term insurances no medical is much more expensive, it benefits certain people for otherwise it will not be offered by insurance companies. So, here are some ways to get one:
• Contact your current insurance provider
• Visit online websites
• Obtain a quote
• Submit the quote
• Complete application
The first step to finding out who offers term life insurance no medical is to ask your own insurance provider from whom you may have taken a health insurance policy. Very often, these health insurance companies also have insurance policies. It is good to go with a known company so that you will not be cheated.
All that the company will require is a blood sample or a mouth swab. Some will not even want this and will only ask questions online. If you do not have health insurance, go online, and search for companies, which offer these policies. Select at least 3 companies and request quotes from them. Give them details of your name, age, sex, some health-related questions, and the amount of coverage required. You will receive a quote at once and if you are satisfied, you can go ahead, request an application, and complete the process online.
In some cases, when a blood sample is requested, the approval will just take a few days but definitely not take many weeks like other insurance policies. However, remember to always be truthful for insurance companies have a way of cross-checking information and if it emerges even after the insurance is approved that you have lied, your insurance policy can be summarily terminated and the premiums you paid will be lost. So, go about it the right way and get good insurance term life insurance to protect your family.
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