The Fastest Life Insurance Coverage – Get Approved Fast

fast life insurance reviews

Today’s article is going to go over several topics that are important to shoppers: Fast Life Insurance Approvals

An important question you need to ask yourself is, do you really want to wait 4 to 6 weeks or longer to get a life insurance policy approved? Probably not when there are so many options available ranging from a few days to less than a few minutes. There are even some instant approval opportunities!

Top 10 Fastest Life Insurance Companies

Do you want a life insurance policy as fast as possible? We’ve done the research and picked the fastest life insurance companies for speedy approvals. Our list is alphabetical as approval times can vary even within the same company. These life insurance companies and their rankings are updated as new life insurance products are released.

American National Insurance Company (ANICO)

american national life insurance company

American National provides fast approval times with their life insurance coverage. ANICO offers quick coverage with a simplified issue no medical exam policy called “Signature Term Express”.

Signature Term Express

Speed
Coverage Amounts
Coverage Lengths
Review Summary

American National's Signature Term Express is a simplified issue no medical exam term life insurance policy. You can be approved with ANICO's term life insurance policy up to $250,000 or a whole life insurance policy up to $150,000 quickly, without a medical exam.

  • Approval Times: As quick as 48-72 hours
  • A.M. Best’s Rating: A
  • Type of policy: Simplified No Medical Exam
  • Issue age: 18-65 (Depends on policy length)
  • Term lengths: 10, 15, 20 & 30 year
  • Coverage amounts: $50,000 to $250,000
77%
Above Average!

Americo Life Insurance Company

americo life insurance company

Americo is another excellent option to think about when it comes to getting a fast life insurance approval. Americo’s options for simplified term and whole life products are a great choice.

Americo Term Life Insurance

Speed
Coverage Amounts
Coverage Lengths
Review Summary

Americo offers a traditional term life policy that is simplified issue without a medical exam for coverage amounts up to a $250,000 death benefit. With a simplified issue policy, you'll have a shorter application process and not as many health questions to answer compared to a fully underwritten life insurance policy.

  • Approval Times: Typically 5-10 business days
  • A.M. Best’s Rating: A
  • Type of policy: Simplified No Medical Exam
  • Issue age: 20-75 (Depending on coverage length)
  • Term lengths: 15, 20, 25 & 30 years
  • Coverage amounts: Up to $250,000
73.67%
Above Average!

Assurity Life

assurity life insurance company

Assurity’s LifeScape NonMed Term 350 is no medical exam simplified issued term life insurance coverage. Their fast approval life insurance can offer coverage in as little as a few days.

Assurity LifeScape NonMed Term 350

Speed
Coverage Amounts
Coverage Lengths
Review Summary

LifeScape NonMed Term 350 comes with a free critical illness rider. This rider allows for the option to obtain cash from the policy’s death benefit due to a qualifying critical illness.

  • Approval Times: Typically 5-7 business days
  • A.M. Best Rating: A-
  • Type of policy: Simplified No Medical Exam
  • Issue age: 18-65 (Depending on coverage length)
  • Term lengths: 10, 15, 20 and 30 year
  • Coverage amounts: $50,000 to $350,000
83.33%
Excellent!

Fidelity Life

fidelity life life insurance company

Fidelity’s “Rapid Decision Express” provides a death benefit up to $250,000 with no medical exam. Fidelity as a fast online application that you complete over the phone and you can sign online.

Fidelity Rapid Decision Express

Speed
Coverage Amounts
Coverage Lengths
Review Summary

Rapid Decision Express is fast approval term life insurance coverage offered by Fidelity Life. If qualified, you can expect approval within 2 days after the application has been submitted.

  • Approval Times: Typically between 24-48 hours
  • A.M. Best’s Rating: A-
  • Issue age: 18-65 (Depends on policy length)
  • Term lengths:10, 15, 20 & 30 year
  • Coverage amounts: $25,000 to $250,000
85.67%
Excellent!

Foresters

Foresters Financial Life Insurance Company

Foresters Life Insurance Company is another one of our favorite life insurance companies when it comes to finding an easy life insurance policy to purchase.

Foresters Your Term Non Med

Speed
Coverage Amounts
Coverage Lengths
Review Summary

Foresters Your Term – No Exam policy decisions are often made within minutes. Their wait time is typically one of the quickest compared to other top-rated no physical carriers.

  • Approval Times: Can get a decision in 10 minutes!
  • A.M. Best’s Rating: A
  • Type of policy: Simplified No Medical Exam
  • Issue age: 18-80 (Depending on coverage length)
  • Term lengths: 10, 15, 20 25 & 30 years
  • Coverage amounts: $50,000 to $400,000
92.33%
Excellent!

Gerber Life Insurance

gerber whole life insurance

With Gerber, there are no no medical exams and no health questions at all. You simply need to have a social security number and be between the ages of 50 and 80 to qualify. That’s it!

Gerber Life Guaranteed Life

Speed
Coverage Amounts
Coverage Lengths
Review Summary

Gerber Life Insurance is a niche company in the final expense life insurance market.  They provide a no medical exam and no medical question whole life insurance policy and they're frequently our “Go to” carrier when it comes to insuring anyone with significant health conditions. Possible disadvantage is that the policy has a 2 year graded death benefit waiting period.

  • Approval Times: Typically 7-10 business days depending on how you apply (Phone, Online or Paper Application).
  • A.M. Best’s Rating: A
  • Type of policy: Simplified No Medical Exam
  • Issue age: 50-80 
  • Coverage amounts: $5,000 to $25,000
71.67%
Good!

Minnesota Life

Minnesota Life Insurance Company

Minnesota Life eliminates the need for a medical exam and lab work as part of their approval process. Instead, Minnesota Life uses a simplified issue process to collect information to help them decide if you’re eligible for coverage.

Minnesota Life Express Issue

Speed
Coverage Amounts
Coverage Lengths
Review Summary

Minnesota Life Insurance offers express issue term life insurance with approval time within 1-2 days of submission of the application. One requirement in addition to the application will be a telephone interview regarding your medical history that will be conducted by Minnesota Life underwriting. If qualified, you can expect a fast approval.

  • Approval Times: Typically in 24 hours
  • A.M. Best Rating: A+
  • Type of policy: Simplified Issued No Medical Exam
  • Issue age: 16-55 (Depends on policy length)
  • Term lengths: 10, 15, 20 & 30 year
  • Coverage amounts: $100,000 to $249,999
87%
Excellent!

North American Company

North American Life Insurance Company

North American Life Vue offers both term and permanent no medical exam life insurance options. 

North American Life Vue Term

Speed
Coverage Amounts
Coverage Lengths
Review Summary

North American provides shoppers a simplified issue term life insurance policy. They only require you to answer some health and lifestyle questions over the phone. There is no medical exam, needles, doctors, or urine samples required.

  • Approval Times: Typically in 30 minutes or less!
  • A.M. Best Rating: A+
  • Type of policy: Simplified Issued No Medical Exam
  • Issue age: 18-60 (Depends on policy length)
  • Term lengths: 15, 20 & 30 year
  • Coverage amounts: $50,000 to $500,000
95.33%
Excellent!

Sagicor

Sagicor Life Insurance Company

Sagicor also excels in providing some of the fastest approval times. Sagicor’s simplified issue no exam term life policies can typically be completed in less than 1/2 an hour, which includes the time for approval!

Sagicor Sage Term

Speed
Coverage Amounts
Coverage Lengths
Review Summary

Sagicor Sage Term offers a super fast 15 minute life insurance approval. Like most simplified issue policies, you must meet all their requirements in order to be approved for coverage. Sage Term provides death benefits up to $500,000 with their term life insurance or No Lapse Universal Life without taking a medical exam.

  • Approval Time: Typically 15 minutes or less!
  • A.M. Best Rating: A-
  • Type of policy: Simplified Issued No Medical Exam
  • Issue age: 18-65 (Depends on policy length)
  • Term lengths: 10, 15 & 20 year
  • Coverage amounts: $50,000 to $500,000
90.33%
Excellent!

SBLI

sbli best life insurance company

ANICO offers fast approval life insurance coverage with their Signature Term Express. Signature Term Express is simplified no medical underwriting term life insurance. 

SBLI

Speed
Coverage Amounts
Coverage Lengths
Review Summary

SBLI has an accelerated underwriting product that uses a Telemed interview that replaces the typical life insurance medical exam.

  • Approval Time: Approval times can vary
  • A.M. Best Rating: A
  • Type of policy: Simplified Issued No Medical Exam
  • Issue age: 18-60 (Depends on policy length)
  • Term lengths: 10, 15, 20, 25 & 30 years
  • Coverage amounts: $100,000 to $500,000
86.33%
Excellent!

Fastest Life Insurance Policy Types

What are the fastest types of life insurance policies? There are three main options when it comes to getting life insurance as quickly as possible. All of these policies are “No medical exam” policies. You will not be required to schedule a medical exam for any of these policies.

  1. Instant Life Insurance
  2. Simplified Issue Life Insurance
  3. Accelerated Life Insurance

1. Instant Issue Life Insurance

With an instant issue policy, you’re going to get approved or disqualified right after applying. It’s important to point out that the application process is not instant. The application will consist of a phone interview with an agent for approximately 30 minutes. The agent will go through all the qualification questions and will have access to information via several sources.

An Instant Issue life insurance policy is typically good for those who are in good overall health without any significant health issues. If you take medications or have any health or lifestyle risks, then an Instant Issue policy may not be the right choice.

2. Simplified Issue Life Insurance

Simplified Issue policies are the next fastest type of life insurance policy. You can get approved in 2 days or less. The policy is approved in a very similar way to the Instant Issue process. The life insurance company may use a phone interview, MIB, MVR, and Medication Database to underwrite your policy. 

Depending on the company and the type of coverage (Term, Whole Life, UL or GUL), you may select a death benefit ranging from $10,000 up to $1,000,000 in life insurance coverage.

3. Accelerated Underwriting

The last option for fast life insurance approvals is with Accelerated Underwriting. This is a great option for those wanting the lowest priced policy that does not require a medical exam. It isn’t as fast as Instant or Simplified, as it typically takes a few days (or up to 1 week) to get approved. 

Important: Not all Accelerated Underwriting policies are an Approved or Declined option. Sometimes if you are not approved with the Accelerated Underwriting process, you’ll be required to take a medical exam. 

This important tip will help you plan out your life insurance application strategy. You can simply apply with Accelerated Underwriting and if you’re required to take the exam:

  1. Take the exam, or
  2. Cancel the application & apply elsewhere

No matter if you select an Instant Issue, Simplified Issue, or Accelerated Underwriting policy- make sure you work with an independent life insurance broker with access to the top companies.

How Life Insurance Applications Get Approved Fast

In order to approve your application quickly, life insurance companies use several ways to make sure you’re insurable.

Electronic Applications

Life insurance companies will use electronic application processes to eliminate a lengthy paper application. Your life insurance application is completed over the phone with your Life Insurance Blog agent. This will typically take around 15-20 minutes to finish. Life insurance applications will need basic information and some additional questions about your current and past health history. Once completed, the e-application is sent to you for electronic signatures via email. After completing the e-signatures, your life insurance application sent to the insurance carrier and the underwriting stage begins. Some carriers will complete the underwriting in minutes and some may take days.

Telephone Interviews

A life insurance telephone interview may be required for your application. It will depend on the life insurance company and product. The life insurance underwriter may require more information about your specific details and health. The good news is that this often avoids having your medical records ordered which often causes delays in the approval of the policy. Telephone interviews can really speed up the approval process.

Medical History

With fast life insurance approvals, you don’t have a medical exam. However, the life insurance companies need to know that you’re not too risky to offer a policy. They’ll be able to verify your medical history by getting access to your MIB report. The MIB stands for the Medical Information Bureau and it is a record of every past insurance policy that you’ve applied for. It shows if you’ve ever been approved or declined and why.

Medication Check

Life insurance companies also have access to your medication history. Any drugs that have been prescribed to you will be in the report as well as the conditions they are treating.

Motor Vehicle Check

Life insurance companies have access to your Motor Vehicle Report. They want to know if your driving history shows any risks such as DUI/DWI or any significant moving violations.

Pros & Cons with Fast Approval Life Insurance?

Like most things, there are advantages and disadvantages. There are pros and cons to buying life insurance policies with a fast approval process.

PROS

 

SPEED
Getting approved quickly is usually a much enjoyable experience. Shoppers can often feel stressed when it takes week or even months before they hear the final decision for the underwriter.
CONVENIENCE
It's convenient when you apply for a fast life insurance policy. You won't have to schedule a paramedical exam or have an examiner into your home. No medical exams, no urine samples, no blood samples - Who wants that?
SIMPLE
Most applications are simplified with telephone interviews and/or online applications. No going back and forth with traditional mail and paper applications.

CONS

LIMITED
Securing a fast approval life insurance policy will typically have a smaller range of death benefit options. Generally, life insurance companies offer face amounts of $25,000 to $500,000 depending on the carrier.
RATE CLASSES
Another limitation with fast life insurance is that life insurance companies often limit the number of health classes available. Often times the best health class ratings. Carrier's may only offer "Standard" or "Regular" when Fully Underwritten policies will have "Preferred" classes for healthy applicants. This can end up being more expensive for the consumer.
HEALTH RISKS
For shoppers with preexisting medical issues it may be more difficult for you to get a fast approval life insurance policy instead of a traditional life insurance plan. Depending on the company and type of policy, the underwriting criteria may or may not be strict.

Fast Life Insurance Reviews

We hope this article has been helpful and given you a better understanding which life insurance companies provide the fastest approvals as well as the types and application process.

Compare Quotes

The first step that smart shoppers do is making sure they compare life insurance quotes from the best companies. Quotes for these top companies are available to you right here on our website by using our instant life insurance calculator

Life Insurance Blog is an independent broker that focuses on finding the best life insurance companies at the best price for each and every client’s needs. With over 60 of the top rated life insurance companies to apply from we are guaranteed to have the right option for you. If you ever need help or have any questions please call us at 888-411-1329.

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Michael Quinn

Michael Quinn

Michael Quinn is the owner of Life Insurance Blog. Please email or call us at 888-411-1329. We're here to answer your questions & help you get the best policy available.