Generally, for most life insurance policies and some supplemental health insurance policies, the application process will entail completing a series of health questions, providing your social security number, driver’s license number, date of birth, and completing a medical exam with a blood work and a urine sample. It could involve reviewing medical records if there are any discrepancies on the application or if the underwriter needs additional information or clarification regarding the applicant’s medical history. This would be categorized as “fully underwritten” insurance.
Now, policies that will 100% never require any form of an exam, blood work, or a urine sample include final expense/burial insurance, children’s whole life insurance, guaranteed acceptance life insurance, accidental death and dismemberment insurance, recovery care insurance, accident and hospital indemnity insurance, healthcare indemnity insurance, and dental and vision insurance.
For term life insurance, whole life insurance, indexed universal life insurance, mortgage protection life insurance, disability income insurance, critical illness insurance, and long-term care insurance, some carriers allow varying amounts of coverage without the need for an exam, blood work, or a urine sample. Additionally, a review of medical records may not be necessary during the application process, depending on your health, medication, and treatment history. This includes “accelerated”, “simplified issue”, “express-issue”, and “guaranteed acceptance/guaranteed issue” underwriting. You can dive deeper into these types of underwriting on our no exam insurance page.
The actual application portion of this process involves providing general information, such as the date of birth, SSN, driver’s license number, and answering health questions. This step is typically completed through a phone call, web meeting, DocuSign, an e-application access link, or various combinations thereof, depending on the options provided by the carrier you are applying with. For certain types of insurance, including Term, Whole Life, Final Expense/Burial, Children’s Whole Life, Guaranteed Acceptance, Accidental Death & Dismemberment, Disability Income, Critical Illness, Accident & Hospital Indemnity, Healthcare Indemnity, and Dental & Vision, the carrier or agency may have an ‘online platform.’ This platform aims to simplify the application process, taking into account factors such as the carrier’s underwriting process (Express-Issue & Guaranteed Acceptance), the applicant’s age, the amount of insurance being applied for, and the range of applicable discounts.
Through an online platform (when available), you can receive a quote and complete your application, including required information and health questions, independently and online, often within minutes and without the need for an exam or the ordering of medical records. Additionally, most insurance plans on the platform can be approved right after the application’s submission, allowing you to complete everything in a single session. However, it’s important to note that this option is limited to specific carriers, types of insurance plans, riders/add-ons, amounts of coverage, underwriting processes, age ranges, and discounts. For those who would normally be eligible for additional discounts (for Term, Whole Life, Final Expense/Burial, Disability Income, and Critical Illness) due to excellent health, choosing this route can result in higher costs. Yet, for some individuals, the added expense is deemed worthwhile for the convenience it provides. Additionally, for those with average to below-average health, this becomes an appealing option as it saves time, considering that an exam and/or stricter underwriting may not lead to rate improvements and could even increase your rates. If obtaining the most budget-friendly rates is not your top priority, and you value the convenience of completing everything through an online platform by yourself, please click here.
But if you are seeking the most cost-effective rates or specific plans, coverage amounts, and additional features that aren’t accessible through an online platform, please click here to have one of our licensed insurance specialists get in contact with you.
