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Today we are all looking for immediate solution to all our problems and so it is natural that we will be looking for life insurance policies that provide immediate coverage as well. Indeed, in these days of instant food, instant communication one may find it irksome to wait for traditional life insurance policies that take ages to extend the coverage. The underwriters are aware of this; so to hold on to those who hate waiting endlessly, they now have instant life insurance policies to take care of their insurance need.

Now, these instant life insurance plans are actually a type of term life insurance. You must know that, out of the different types of life insurance term life insurance is the only policy, which does not provide any scope for cash value accretion, but provides plain death benefit at a very reasonable rate. However, the instant life insurance policies are rather expensive; but in spite of that, these policies are quite popular among a section of the society. May be that is because, Americans are always short of time and prefer policies, which require 10 minutes to apply and 24 hours to finish underwriting process.

Other than that, the instant term life policies are also the most hassle free way of receiving life coverage. They do not require you to undertake any medical test. Of course, that does not mean that if you are terminally ill or a regular substance abuser, you will still get the coverage. No, the carriers have their own way of finding out. However, because the policy exempts you from medical test, you can have the coverage within twenty-four hours, but at a higher rate. Otherwise, everything is same.

For example, when you request an instant-issue term life insurance quote on line, 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 will women.  This is because it is generally perceived that women live longer as they lead healthier and more responsible lives.

Always make sure that whatever inputs you provide, either in the quote form or in the application form, are always accurate. As I have already said, the carriers have their own way of cross checking the facts and so, they will always know if you are suffering from any kind of terminal diseases. However, without the medical test they have no way of knowing in any such diseases is lying dormant within you or if you have physical condition or habits such as obesity or tobacco use, which can give rise to such diseases. They therefore, automatically take you as high-risk candidate and charge accordingly.

Therefore, it stands that term life insurance no medical policies are convenient, but as every good thing, it also requires you to pay at a higher rate. The purchase procedure is easy:
•    Contact your current insurance provider to see if they offer any such policy. Otherwise, search online for carriers offering such a policy. You can also contact life insurance brokers for that.
•    Request for quotes from three different sources at least.
•    Select one and apply online.
•    Wait for twenty-four hours to see if you qualify

As with traditional policies, shopping around is the essential part of policy purchase. There is no other way you can find a suitable policy. Therefore, if you want the widest coverage at the cheapest rate, receive quotes at least from three different sources. In addition, as I have repeatedly told you, be honest while filling up the forms, especially in case of health related questions. Also, determine the coverage term and coverage amount carefully; there is no point of buying a policy, which falls short of your requirement.
 

What will happen if you provide false inputs in the forms? As I have already pointed out, although they do not make you undergo any test, they do not provide the coverage with eyes closed either. They have their own way of verifying facts and if you are caught lying, you will not only be deprived of your coverage, but also of the money, you had already paid as the premium. That is why, do not lie; remember that the insurance companies never ask a question they cannot verify. Be honest and live a protected life instead.

Article by David Livingston of EQuote. For more information on term life insurance for seniors and instant term life insurance quotes, visit his site today.