So what is this new underwriting process that is getting adopted by more and more life insurance companies these days?  It’s called accelerated underwriting and is offered on many term life insurance and permanent life insurance policy products.

In short, accelerated underwriting allows for qualified applicants to be approved for a life insurance policy the same day it’s applied for and with NO medical exam requirement.

Many of the top life insurance companies in the market today are adopting a more electronically-driven underwriting review process via online health history interviews set up through an online application link with your agent (hopefully you choose us!) – though many still offer to do the interviews by phone call as well for those who prefer.

As the health questions get answered in the interview process, the electronic underwriting is evaluating your qualification to be approved for an immediate decision or if it will send the file over to a live underwriter to review to determine if additional requirements will be needed (such as a medical exam and or medical records from your doctor) or if they can still proceed with an immediate decision.

Some of the common parameters insurance companies are adopting for this structure are as follows (though it can vary a bit by company):

  • Available for ages 18-60 (some companies will only go up to 50 for this process, though there are also some that go up to age 69 for it too).
  • Maximum coverage amount allowed under accelerated underwriting guidelines will vary a bit with the caps ranging as low as $500,000 with some companies while others will go up to $1,000,000, $2,000,000, or even up to $3,000,000 of coverage through this process.  Amounts above an insurers cap will automatically require the fully underwritten review process that includes doctor records, a medical exam, and other risk factors.
  • Accelerated underwriting is best utilized with younger and healthier individuals and those with less complex health histories (e.g. such as just being on just a blood pressure or cholesterol maintenance medication).
  • Individuals with more complex medical backgrounds such as those with heart disease, diabetes, and past cancer episodes will typically be transitioned to the fully underwritten review process with medical exam and doctor records requirements.

Rest assured we will be with you from start to finish on your journey to secure life insurance coverage in the smoothest and fastest way possible while making sure you’re getting the desired coverage at the lowest possible price.

Call us today at 1-888-972-0024 to speak with a live agent to learn more and get your coverage started! You can also e-mail us 24 hours a day by CLICKING HERE.