Simplified Issue Life Insurance

Posted in Life Insurance

February 26th, 2009

With a simplified issue life insurance policy, applications can be completed quickly and easily online and from the comfort of your own home. The policy coverage is usually approved after answering just a few basic health questions. Additionally, once you pass the approval process, your policy coverage will begin immediately. As long as you faithfully pay your premiums, the coverage should stay intact.

The insurance business is largely connected to underwriting. When a consumer applies for insurance, professionals delve into their medical, family and personal history as well as review test results to determine your risk factor. This factor is what determines your ability to get life insurance as well as what type of premiums you may have to pay. A simplified issue life insurance policy is still underwritten, but at a different level.

Simplified issue life insurance tends to come with lower coverage and higher premiums than typical life insurance, since a full medical exam is not required. Many people think that this is a way for the uninsured to gain coverage, but that is not the case. Underwriters will carefully examine your medical history to see if you qualify for a simplified life insurance policy.

If you want a quick and easy way to be able to provide your family with at least some protection once you pass away, a simplified issue life insurance policy could be your best option.