A standard life insurance application can take six or more weeks to process and require a medical exam, but a growing number of insurers are now letting people get coverage to protect their loved ones the same day they apply. This option, called instant life insurance, allows you to skip the medical examination portion of the application process and get approved faster.
To determine the best instant term life insurance companies on the market, we looked at insurers that offer robust protection at an affordable price — and a quick application turnaround. Our top picks for instant life insurance are Brighthouse Financial, Foresters Financial, and Legal & General America.
Comparing the best instant life insurance companies of 2024
Insurer | Policygenius rating | AM Best rating | |
|---|---|---|---|
5.0/5 ★ | A | ||
4.9/5 ★ | A+ | ||
4.3/5 ★ | A |
Methodology
Why you can trust our picks
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.
Best instant life insurance for people age 25 to 50: Brighthouse Financial
2024 Policygenius award winner
Brighthouse Financial
5.0
No-medical-exam option
Why we chose it
Brighthouse Financial offers competitive rates, comprehensive coverage, and application decisions in as little as 24 hours, making it a great choice for people who want to get life insurance coverage without having to take the medical exam.
Pros and cons
Pros
Extremely affordable
Instant-decision applications
Best-in-class no-exam option
Cons
Traditional term life not available in CA, IL, LA, ME, or NY
Term life applicants limited to ages 25-50
Brighthouse Financial is our top pick for individuals age 25 to 50 who have minimal health conditions and want to be insured as quickly as possible.
Using marijuana regularly won’t prevent you from getting coverage, but using tobacco or nicotine products will disqualify you from getting a policy through Brighthouse Financial.
Instant life insurance details
Max coverage limit: Up to 30 times your income for people age 40 and under; 25 times your income for people age 41 to 45; 20 times your income for people age 46 to 50
Included riders: Accelerated death benefit — a policy add-on that allows you to withdraw money from the death benefit if you become terminally ill
Payment: EFT bank draft only
Coverage limit: Up to $3 million
Your policy will be activated once you provide your electronic signature on policy documents and pay your first premium. Your agent will lead you through these steps on your application phone call.
Best instant life insurance for people with mild health conditions: Legal & General America
2024 Policygenius award winner
Legal & General America
4.9
30+ year terms
All 50 states
No-medical-exam option
Why we chose it
Legal & General America, which also does business as Banner Life and William Penn, has some of the longest term lengths — up to 40 years — and most competitive life insurance rates available, even for people with a history of medical conditions.
Pros and cons
Pros
Competitive rates for a variety of health conditions
Fast instant-decision option for qualifying applicants
Variety of term lengths up to 40 years
Cons
Application underwriting can take longer than average
Does not have the most competitive rates for older applicants
Our analysis found that Legal & General America (which also does business as Banner Life and William Penn) offers the best instant term life insurance for people age 20 to 60 with mild health conditions. You’ll complete a health interview over the phone first, but if you have a more complicated medical history, the company may request a medical exam.
Instant life insurance details
Max coverage limit: Up to 40 times your income for people age 20 to 29; 30 times your income for people age 30 to 39; 20 times your income for people age 40 to 49; 15 times your income for people age 50 to 59
Included riders: Accelerated death benefit rider, term conversion, optional child life insurance rider, and an optional waiver of premium rider (an add-on that allows you to keep your policy if you become disabled and can no longer pay your premiums)
Payment: EFT bank draft only (checks allowed for recurring payments)
Coverage limit: Up to $2 million
Best instant life insurance for people age 50 to 55: Foresters Financial
Foresters Financial
4.3
No-medical-exam option
Why we chose it
For people under age 55 and in relatively decent health, Foresters Financial's Your Term policy is a solid choice for a term life policy. You can get it without a medical exam and coverage can be offered within 24 hours.
Pros and cons
Pros
Accelerated death benefit rider includes coverage for critical, chronic, and terminal illnesses
Includes several no-cost riders that aren’t available through other insurers, including Family Health Benefit Rider and Charity Benefit Provision
No-medical-exam option available for people up to age 55
Cons
Not available in New York or Maine
People with complicated health histories will likely find their best rates elsewhere
Foresters Financial offers an especially affordable instant option for people age 50 to 55 who are seeking immediate coverage. While other insurers may charge an extra fee for unique add-ons like the accidental death rider, Foresters Financial builds them into the policy at no additional cost.
Foresters Financial’s instant issue option is available for applicants age 18 to 55. It offers a variety of term lengths, including a 15-year, a 25-year, and even a 30-year term.
Instant life insurance details
Max coverage limit: Up to 30 times your income for people age 18 to 30; 35 times your income for people age 31 to 40; 20 times your income for people age 41 to 50; 15 times your income for people age 51 to 55
Included riders: Accelerated death benefit rider, chronic and critical illness riders, accidental death rider, family health benefit rider, and charity benefit provision (an add-on that provides that 1% of the death benefit will be paid out to a charity of your choosing)
Payment: EFT bank draft only (checks allowed for recurring payments)
Coverage limit: Up to $1 million
What are the pros & cons of instant life insurance?
Pros | Cons |
|---|---|
Instant life insurance can save you time and get you approved more quickly. It provides an easier application process without having to schedule an in-person medical exam. It offers the same coverage as life insurance with a medical exam. | Not everyone can qualify for instant life insurance because insurers have stricter health guidelines for these types of policies. If you’re over 60, you’ll likely not qualify for instant term life either because insurers typically require people in that age bracket to take a medical exam. |
How do you get instant life insurance quotes?
Before you officially apply, you’ll connect with a life insurance agent. They’ll ask you basic questions about your health and lifestyle, including information regarding any medications you take. They’ll also ask you about your financial status and any criminal history you have.
This will help your agent determine if instant life insurance is an option for you and get quotes for how much your insurance will cost with different insurers. Price will be one of the biggest factors in determining which insurer is best for you and who you should apply with.
Keep in mind that quotes aren’t final — they’re just estimates. After you apply, the insurer will verify the application information and then make you an official offer at a certain price. In order to get the most accurate quotes, make sure you’re honest and thorough with the agent you work with when you apply.
How can you prepare to apply for instant life insurance?
Insurance companies need enough evidence to support offering you a policy, so the more information you can offer them when you apply the better.
You can be ready by having your full medical and prescription history written down before you hop on your call.
The agent working on your application will ask a series of questions about your health history and lifestyle, so you’ll want to be prepared to answer them as accurately and thoroughly as possible.
Be completely honest during your phone interview. Even though you won’t take a medical exam, your insurer still reviews your medical and prescription history, and your application may be rejected if the insurer thinks you were dishonest on your application.
Learn more about the life insurance phone interview
What outcome can you expect from an instant life insurance application?
There are three possible outcomes you can expect when you apply for an instant decision life insurance policy.
1. Approved
Your application is accepted! You can either be approved as applied, meaning that your final premium is the same as your initial quote, or you can be approved other than applied, meaning your final premium differs from your original quote based on your records — which usually means the cost of your policy will be higher than your original quote. Either way, if you want to set up the policy, you’ll be covered as soon as you pay your first premium and sign your policy contract.
2. Denied
If you’re declined for immediate coverage, it doesn’t mean you’re ineligible for any life insurance policy. Depending on the reason your application is denied, you could still get life insurance coverage by applying with another company.
Working with an independent broker is especially helpful because they can help determine if there’s a different insurance company that will be a better fit for you. At Policygenius, our brokers are licensed in all 50 states and can walk you through the entire life insurance buying process while offering transparent, unbiased advice tailored to your personal situation.
3. Referred to underwriter
In this case, the insurance company wants more information before approving your policy. You might be asked to answer additional questions about your health and lifestyle, or in some cases, have to take a medical exam. Then, the insurance company will come back with an approval or a decline.
Learn more about the life insurance medical exam
Does smoking disqualify you from getting instant life insurance?
Smoking cigarettes or using any nicotine products will usually disqualify you from getting instant life insurance, but smoking marijuana won’t.
If you use marijuana, you can still apply for instant life insurance. Just be sure to share any use of substances you use with your agent when you apply.
What are your options if you’re not eligible for instant life insurance?
You can apply for a policy with a standard application, which means you’ll have to take a medical exam and wait up to six weeks to get an answer from the insurance company.
Alternatively, some companies offer no-exam life insurance, which allows you to apply without having to take the medical exam and save some time on your application — but you won’t get a response the same day. No-exam applications usually take about two weeks to be approved.
Learn more about the best no-medical-exam life insurance companies of 2024
