Long story short, life insurance application approval times varies by a lot. Depending on the type of policy, the company, your health, your age — the list is pretty long and approval times can range from minutes to months.
If you’re in a rush and need a life insurance policy quickly, a No Medical Exam life insurance policy is a great choice. No Exam policies will be more expensive because the company takes on a bigger risk insuring you, but they’re a great option for anyone needing coverage fast.
Still, for shoppers who don’t mind waiting 4-8 weeks to get coverage, your best bet is a traditional life insurance policy with a medical exam. The fully underwritten process can seem pretty lengthy at times – but technology has sped things up with the life insurance application process and approval times. It can sometimes feel like you’re waiting forever, but the life insurance underwriter is really working to get you the best premium for the coverage you applied for.
It is also important to remember that the underwriters job is to ensure that you get the best premium possible for the coverage you need. So, while it may seem like the application is taking forever to be approved, you need to understand that they are working for you -not against you.
Let us help
If you are thinking about applying for life insurance, we can help walk you through the process — but I’d highly recommend speaking with us first!
We have relationships with over 60 of the best life insurance companies and know their underwriting processes. This knowledge helps us with our recommendation to you based on your specific needs and health.
Trust us, we’ve pretty much seen it all. We’ve found the life insurance solutions for shoppers who thought they had no options and were otherwise uninsurable.