Electronic Term Life Insurance Policies: Let's Speed Things Up

UPDATED: Feb 25, 2020

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Until recently, the term life insurance industry has long been slowed by the use of paper processes. While electronic applications and billing processes have been in place for a few years now, term life insurance policies are still being printed and mailed to customers. But that’s all about to change thanks to electronic policy delivery.

Electronic Policy Delivery

Electronic policy delivery (ePolicy) is currently being offered by a handful of companies, such as American General Life. Each has its own version of ePolicy and some are better than others. But recently, iPipeline has introduced PolicyEX, a unique process of delivering term life insurance policies to customers electronically. PolicyEX promises to reduce processing times and get your policy in your hands quicker. And quicker is what we’re all about.

To understand the significance of ePolicy, let’s take a look at the ‘normal’ policy process.

  1. You apply for term life insurance from Transamerica Life Insurance Company, using QuickQuote as your agency.
  2. Upon approval of your application, Transamerica Life issues a paper policy and mails it to us.
  3. We process the policy and mail it to you for signature and payment.
  4. You sign the forms and send them back to us along with payment.
  5. You then file your policy away in a bank, safe, drawer or closet somewhere.

Speed Improvements

While this process has worked for hundreds of years, technological advancements have come along to make the process quicker. Take a look at the difference ePolicy can make.


Process Step



Policy Issued by Company

3 Days

3 Days

Policy Mailed to Agency

2-5 Days

0 Days

Policy Processed by Agency

1 Day

0 Days

Policy Mailed to You

2-5 Days

0 Days

Forms and Payment Sent to Agency

1 Day (Fax/Email)

0 Days

Forms and Payment Sent to Company

1 Day (Fax/Email)

1 Day

Total Time

11-16 Days

4 Days


With ePolicy, the life insurance company creates an electronic version of your policy. QuickQuote then sends an email to you with instructions for logging into a secure website. From there, you are able to sign any necessary forms, print or save your policy and submit your premium payment. That’s all there is to it. And it can save you approximately 7-10 days over the paper process!

In addition to the time savings, there are other advantages to ePolicy:

  • Safer – The website is secure. Your policy is not sent to you through the mail or other delivery service. You can also store your policy electronically instead of in a file cabinet or drawer.
  • Easier – You can login and complete the process in 10 minutes. You don’t need to open the mail, sign the forms or mail/fax/email them back to us with payment.
  • Greener – ePolicy involves less paper.

While ePolicy is still a relatively new concept, we expect more life insurance companies to adopt the process soon. The result could be the easiest decision you’ve had to make since your last trip to the grocery store.

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