In the past, traditional life insurance could take a month or more to secure due to the application process. However, with technological advancements, more people can get policies as quickly as within a day of applying. Life insurance shoppers are doing this by comparing providers and applying online. Some types of life insurance policies that shoppers can get quickly include term life insurance, permanent life insurance, and final expense insurance. 

Compare providers and apply online 

Many providers will provide life insurance shoppers with full details of their policies. A life insurance shopper should first determine what type of life insurance they want and how much coverage they desire. They can then look up multiple companies that offer that specific policy and compare features. The choice of provider can be narrowed based on what policy is best tailored to an individual's needs.

Premium costs between different insurance companies can be compared by communicating with a life insurance agent or submitting information to an online life insurance marketplace. Once a decision is made on which policy to pursue, shoppers can apply online and sometimes receive a decision within the same day. Life insurance policies that require no medical exams can be attained faster, but it should be kept in mind that they may come with a higher premium. Here are some types of life insurance that shoppers may be able to get quickly.

Term life

Term life insurance provides coverage for a set period of time. The different term lengths can vary from a year to up to 30 years. The most common term lengths are 10 to 20 years. If a person dies within the time period and has continually paid the premiums, a beneficiary will receive the coverage amount in the policy. Term life policies typically come at a low premium cost, making them ideal for life insurance shoppers seeking an affordable option. These policies are often suitable for shoppers who have young families or may be about to retire. Term life insurance is also a good choice for those with debts being paid off over the next few years.

Permanent life

Permanent life insurance provides coverage to a policyholder for a lifetime as long as premiums are paid. The policies also offer a cash value, a living benefit for the policyholder. One portion of the premium goes toward funding the death benefit, and the other goes toward building the cash value. It earns interest over time and is available to be withdrawn or borrowed. Policyholders are able to use it to pay for other expenses or pay for their premiums.

Final expense insurance

Final expense insurance is a type of whole life insurance policy sometimes referred to as burial insurance or funeral insurance. It's similar to other whole life insurance policies, except that it's smaller and more affordable. The death benefit is designed to help cover funeral costs and any other remaining expenses. In addition, these policies typically require no medical exam, making securing life insurance faster.

The bottom line

Each of these policy types may be secured quickly by first comparing providers and then applying online. Fidelity Life offers term life insurance, permanent life & final expense policies with a quote online or help from a licensed agent making it easier for people to get a policy. Fidelity Life can help compare rates and apply online to help secure life insurance coverage faster.

For all media inquiries, contact: 

Laura Zimmerman, Chief Marketing Officer

laura.zimmerman@fidelitylife.com, (312) 288-0068