No Time to Buy Term Life Insurance?

Term Life Insurance Blog

Life in 2013 is fast-paced, hectic even. It feels like we’re constantly being pulled in a hundred different directions at once. Career, school, family, friends, social media, advertisements and more – all furiously elbowing their way into our lives and clamoring for our attention.

Look, we’re all pressed for time. The last thing most of us want to do is waste the precious little we have. So when we hear people say they have no time to buy term life insurance, we get excited. Why? Because we love to show people just how easy buying term life insurance can be.

Heck, you can even buy one of these policies right now, in 15 minutes tops! That’s it. 15 and done. You’re welcome.

But if you can find just a little more time than that and want to save a bunch of money, a traditional term life insurance policy is the way to go. Here’s how easily you can get one.

1. Term Life Insurance Quotes – 15 Minutes

  • Start with a term life insurance website like this one.
  • Provide the information requested, usually a handful of basic questions such as age, gender, tobacco use, health status and the type of policy you want.
  • Review the free quotes you receive back.
  • Find a highly-rated company with a cost you can afford.
  • Click ‘Apply’ and add your contact information.
  • Move to Step 2.

2. Term Life Insurance Application – 30 Minutes

  • You’ll get a call from a licensed agent of the website you used in Step 1.
  • The agent will review your request and complete the application with you over the phone.
  • Have important information ready like current and past physician names and addresses for any medical conditions, a list of medications and your beneficiary information (e.g. dates of birth, SSN, etc.).
  • Provide all requested information and schedule your paramed exam.
  • Move to Step 3.

3. Paramedical Exam – 30 Minutes

  • The examiner will arrive at your home or place of business at the prearranged time.
  • The examiner will complete a health questionnaire.
  • The examiner will take measurements such as blood pressure, heart rate, height, and weight.
  • The examiner will collect urine and blood samples.
  • Move to Step 4.

4. Underwriting Review – 5 Minutes

  • The life insurance company will consider all of the information gathered from your application and paramed exam.
  • The company will also request your Medical Information Bureau Report, Motor Vehicle Report and Pharmacy History Report.
  • The company may request medical records from your physician(s), depending on your medical history.
  • The best part of the review process is you do nothing! The company and your agent work together to complete these steps. In some instances, they may contact you for additional information (hence the 5 minutes we show for this step).
  • Move to Step 5.

5. Approval & Policy Issue – 10 Minutes

  • Your agent will contact you to tell you the approval status, the rating class and the final premium due.
  • Your agent will send your new policy to you with instructions.
  • You will sign your policy paperwork and return it to your agent along with any premium due.
  • You are done!

Total Time = 1.5 Hours!

That’s it. 90 minutes of your time is all you need to protect your family, business or estate with term life insurance. And that’s not even all at once. Surely you can scrape together 90 minutes over the next few weeks to get this done!

Tim Bain

Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites. You can find him on Twitter.

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