There are life insurance policies that can take a very long time to get, and there are policies that can take a very short time to get. The difference is how much is required during underwriting and how fast or slow the people working on your application are moving.
While rare, No Exam life insurance exists that can literally be applied for, approved and issued within an hour. Most No Exam life insurance policies take a few days or more, depending on whether they also order medical records, and depending on how fast that particular life insurance company processes their No Exam policies. If the agent or agency you used is nonresponsive, this can also hold things up.
Policies that require medical underwriting can take much longer. If you are in good health and utilize a "quick" app like many carriers offer, you will often need to do a long phone interview, but this can cut down your chances of the life insurance company ordering medical records. Having to wait on doctor's offices providing medical records to the insurance carrier is the major cause of extended time during underwriting, so if that step is avoided, the process will go much faster.
If your policy does require medical records to be approved (most policies requiring an exam do require medical records if a health condition exists), you can help speed it up by calling your doctor's office or perhaps even obtaining your medical records yourself. Also, be sure to list on your application ALL the doctors you have seen in the past 5 years, or any physicians that were involved in your diagnosis. Being able to order those from the start, rather than having the underwriter find out about them through reading one set of records and THEN having to order those additional records, can shave weeks to months off of the time it takes to put your policy in effect.
Finally, if you are need to take a medical exam, take it as soon as possible. Much of the rest of the process revolves around that, so getting that out of the way quickly could help you have a policy in your hands within one month.
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While rare, No Exam life insurance exists that can literally be applied for, approved and issued within an hour. Most No Exam life insurance policies take a few days or more, depending on whether they also order medical records, and depending on how fast that particular life insurance company processes their No Exam policies. If the agent or agency you used is nonresponsive, this can also hold things up.
Policies that require medical underwriting can take much longer. If you are in good health and utilize a "quick" app like many carriers offer, you will often need to do a long phone interview, but this can cut down your chances of the life insurance company ordering medical records. Having to wait on doctor's offices providing medical records to the insurance carrier is the major cause of extended time during underwriting, so if that step is avoided, the process will go much faster.
If your policy does require medical records to be approved (most policies requiring an exam do require medical records if a health condition exists), you can help speed it up by calling your doctor's office or perhaps even obtaining your medical records yourself. Also, be sure to list on your application ALL the doctors you have seen in the past 5 years, or any physicians that were involved in your diagnosis. Being able to order those from the start, rather than having the underwriter find out about them through reading one set of records and THEN having to order those additional records, can shave weeks to months off of the time it takes to put your policy in effect.
Finally, if you are need to take a medical exam, take it as soon as possible. Much of the rest of the process revolves around that, so getting that out of the way quickly could help you have a policy in your hands within one month.