How does accelerated issue guarantee work?
There are different ways for accelerated issue guarantee depending on which insurance company is applied for.
There are immediate insurance paths, automated insurance paths and simplified insurance paths.  Underwriting
For companies that offer immediate coverage, you know immediately after you apply if you are accepted and your coverage begins as soon as you submit your first payment.
You must meet strict criteria to be accepted. If you are not accepted, there is a good chance that you can still qualify for life insurance through a company that uses another issue guarantee.
Many insurance companies offer both automated and traditional issue guarantee to be able to receive as many applicants as possible.
With an automated issue guarantee, insurance companies use the information you provide in your application to perform a health "background check" on you. Through data analysis and predictive analysis, if you are judged to be at low risk, you do not need to do a medical examination. You will then be approved and insured much faster compared to the traditional issue guarantee.
You do not know if you qualify for the automatic issue guarantee until after you have applied. If you are not accepted for an automated issue guarantee, your application will automatically go through the traditional issue guarantee.
Simplified issue guarantee has fewer requirements for eligibility criteria. The application is very short and asks only a few health questions. Usually, only serious medical conditions can disqualify you, such as diabetes, heart disease, stroke, cancer, alcohol or drug abuse, mental illness and HIV.
Simplified life insurance issue has coverage restrictions. The coverage length and amount options are often less than what you can get through a traditional or accelerated issue guarantee. For example, the maximum levels for traditional issue guarantees are in the tens of millions. Accelerated underwriting often reaches up to $ 3,000,000. Simplified issue guarantee is a maximum of USD 500,000, and, more commonly, a ceiling of USD 1
As companies require less information from applicants, it is more difficult for them to classify their risk. People who apply for a simplified issue guarantee are therefore assumed to have some minor health damage, so the premiums will be higher.
If you are in good health, avoid simplified insurance products to get the best possible coverage for your dollar.
] Apply for life insurance
Quotacy works with many different life insurance companies.
If you prefer to skip a medical examination, we have options for you. If you are qualified, these options will be displayed in our quotation tool.
Most insurance companies we work with have an accelerated insurance process. To check if the insurance company you want to choose offers this, click on the "Ratings & Info" tab. If it says "Maybe" under Medical Exam Required, it means that this company has an accelerated emission process and that you may be eligible to skip the medical examination.
” width=”613″ height=”686″ srcset=”//www.quotacy.com/wp-content/uploads/2021/10/symetra_table-1.jpg 613w, //www.quotacy.com/wp-content/uploads/2021/10/symetra_table-1-480×537.jpg 480w” sizes=”(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 613px, 100vw”/> 19659003] Once you have applied and the insurance company has evaluated your application, your Quotacy agent will notify you if you qualify for the expedited issuance process. If not, your application will go through the traditional issue process and you will need to get a medical examination. The medical examination is completely free and the examiner will come to your home or office, wherever it is most convenient for you.
You do not have to worry about finding out your next steps or when to take them. Your Quotacy Agent will keep you updated as your application goes through the life insurance purchase process.
Ready to get started?
The first step is to get a quote. And you can do it yourself!
We do not need contact information just to see price estimates. Enter basic information about yourself, such as your zip code, date of birth, height and weight, and smoking status to see life insurance quotes directly.
We do not need your contact information until you decide to apply. After that, we will never sell it. Only Quotacy, the insurance company and outside doctors will have your contact details.
Start the process. Get a quote on life insurance now.
Do you have questions? Not sure what type of life insurance to buy, or not sure how much? Contact us directly or visit our life insurance purchase guide.