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Posts Tagged ‘ExpressTerm life insurance’

We finally made the

BIG Screen!

youtube-video-for-getfinancialadvice
Okay…

Medium Screen!

 

It’s short, to the point and only 30 seconds long. Anyway, I just wanted to blatantly promote it here because it does one very important thing; it shows just how quick and easy it is now to get life insurance. No medical exam! No agent visiting! Just 15 minutes online and you could be approved for up to $250,000 in coverage.

So what’s new about getting life insurance online? What’s new is automated underwriting. In the past you could get a quote online and even apply, but you could not get instant approval and coverage. Now two large insurance companies offer Instant Term Life Insurance (also known as ExpressTerm and other names) through approved brokers. Of course, we are one of those brokers, hence the YouTube ad.
Anyway, you simply enter non-personal information for a quote, such as height, weight, age, gender, etc., and if you like the quote you answer 7 to 10 questions pertaining to your health, family medical history, and life style. If you have no major medical conditions, i.e. your health is excellent, and you are not involved in any dangerous occupations or pastimes (such as sky diving, bungy jumping, etc.) then you may be approved.
Now comes the new part. You may or may not know that before anyone is ever approved for life insurance, the insurance companies check at least 2 sources of information, the DMV (Dept of Motor Vehicles) and the MIB (the Medical Insurnace Bureau NOT the Men In Black). The DMV will inform the insurance company of any negative driving history. The MIB provides fraud protection services to insurers and consumers from attempts to conceal or omit information material to the underwriting of life insurance, etc. Now, two major insurance providers have developed programs to access this information instantly online. Now instead of having to wait for the requested data through the traditional channels underwriting receives an instant response and in turn is able to approve or deny your request without any wait time on your part.

Of course, this instant approval is only available to those whose health is excellent and no medical exam is required. If by your answers to the 7 to 10 questions* it is deemed that you do not qualify for instant issue term, don’t be discouraged. Few of us today qualify for instant approval, it just mean we just have a little longer wait for approval.

*For a peak at the questions, go to http://www.getfinancialadvice.com/online-non-medical-instant-term-life.html.

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