What is the easiest way to get life insurance?

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Life insurance is an essential part of an individual’s financial security that many people don’t think about until much later in life. If you wanted life insurance at a low price before recent technological advancements, you would have needed to fill out lots of paperwork, undergo a medical exam for life insurance, potentially get blood drawn, and then have to wait 1 to 3 months to get life insurance. 

The insurance industry has changed a lot since those days of old. Some insurance companies are changing the life insurance game by making the process of getting life insurance straightforward and fast. Instead of an application taking months, these online life insurance applications only take minutes. Better yet, many people can buy decent sums of life insurance immediately without having to take a medical exam. 

New Way to Apply

Online life insurance applications work differently from the tiny and expensive no-exam life insurance policies of old that are marketed to seniors. Insurance companies these days use a process they like to call “accelerated underwriting.” It sounds complicated but it isn’t. These companies take information from your life insurance application and pulls other data about you from other sources with your permission. After that, these insurance companies use artificial intelligence in addition to complicated algorithms to calculate a customer’s risk of dying sooner than others. In a lot of cases, this technological process provides insurance companies with enough information about the customer in question for companies to make quick decisions and offer a competitive coverage price immediately.

How to Apply

  1. After you check out some life insurance quotes, you apply online by answering some health questions about yourself.
  2. With your permission, the insurance company in question reaches out and obtains information about you from many different databases. To name a few examples, these companies can find out what medicine you are currently taking as well as what you have taken in the past by checking prescription databases. They can check the customer’s motor vehicle records to find out if you have had any driving violations in the past. These companies can also check data from organizations 
  3. You learn if you are approved for life insurance right after filling out the life insurance application.

It’s that simple. There are many companies that offer instant life insurance you get right now. 

This article was written by Ian, an intern at Irish Mortgage Brokers and Yes.ie from the USA.