Instant Life Insurance

Written by Stephanie Dula
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Instant life insurance that provides immediate coverage is increasingly available at local agencies and even online. Traditionally, buyers have applied for coverage and waited 30 or 60 days to be approved and to receive the actual insurance policy. Consumers can now apply for and purchase coverage that goes into effect immediately, and walk away with a policy in hand.

Factors Affecting Instant Coverage Rates

Instant policies may carry higher premiums because of the lack of medical exam and greater risk for companies. However, many insurers are able to provide affordable instant coverage with no medical exam required by requesting some level of health history information. Answers to a few simple questions can significantly affect instant life insurance premiums.

When an instant policy is issued to an approved buyer, it may carry certain stipulations. Some companies may advertise instant coverage, but they may still have a waiting period for benefits based on certain medical criteria. No company is going to put all their trust in a policyholder's ability to be completely honest and forthcoming with information regarding a possible illness or condition.

Insurance companies have very specific ways of assessing the likelihood of a policyholder's death, and determining appropriate premiums according to an individual's health profile. They make sure their financial risk will be compensated for in one way or another--through high premiums or low probability of a claim being filed. This is not to say that an insurance deal cannot be had, however, and consumers are well advised to shop around for the best rates for their individual circumstances.


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