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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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Underwriting time for life insurance

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If in doubt, please send a new question or ask for an update.

Q: I just applied for insurance online. How long does it take to get a life insurance policy approved?

A: Aside from the guaranteed issue policies that cost much more but become effective immediately, the standard time to issue a normal medically underwritten policy that uses an online application process is 3-5 business days. This assumes that you are healthy and can answer "no" to the medical conditions screening questions on the application. The process is much faster than it used to be since many insurance companies make better use of available technology. Guarantee Trust Life Insurance sends the applicant several e-mails to keep them informed of the progress and any snags that may surface. If you do not meet standard medical eligibility requirements, then it makes sense to work with OnlineAdviser on an individual basis rather than use automated online enrollment.


More resources:
Eligibility for Guarantee Trust Life Insurance