Simplified Insurance and the Single-Premium Whole Life Options

February 21, 2023

There are several options for simplified life insurance, and it is vital to know what they are before deciding. Life insurance offers security, protection, and peace of mind. Unfortunately, though, nearly 25% of adults in the U.S. do not carry this type of coverage. Many of these people have not enrolled in a policy because of the stress of the application process, interview, and medical exam. Luckily, simplified life insurance offers a viable solution that makes it easier than ever to enroll in life insurance.

Simplified Life Insurance Directions to Take

Learn what to know about single-premium whole life insurance.

Simplified Life Insurance Doesn't Require a Medical Exam

The medical exam that life insurance policies often require can be a stressful and invasive process for some applicants. This exam typically includes a record of the patient's height, weight, and vital signs, such as pulse and blood pressure. It may also have a screen for illicit drugs and urine sample collection. If you aren't comfortable submitting to this process, there's good news — simplified life insurance doesn't require it.

Simplified Life Insurance Offers Immediate Coverage

You might also wonder how to get life insurance coverage immediately. For a standard policy, you may have to wait several weeks from the date of your application until the policy's finalization. A simplified life policy allows you to gain immediate coverage once you've been approved and paid the policy's first premium. It is ideal for people who have a court-order to purchase a policy or those who want quick security for their families.

Simplified Life Insurance Entails Simple Underwriting

A streamlined underwriting process is one of the primary reasons why a simplified life policy is available faster. A traditional life insurance policy may be manually written and reviewed by an individual underwriter, which can take as long as two months. On the other hand, a simplified life policy is subject to a much simpler underwriting process because it does not rely on the results of an interview or medical exam. It makes coverage more accessible for all applicants.

Simplified Life Insurance Offers Permanent Coverage

Finding the right life insurance policy is challenging when so many different options are on the market. Many people opt for a term life policy to quickly secure coverage for a specific duration, but you may prefer a permanent one. Permanent policies offer many advantages, including the ability to obtain lifelong protection and financial security for your loved ones. See if a simplified life insurance policy is the best choice for you and your loved ones.

About 1891 Financial Life

At 1891 Financial Life we don’t just sell policies, we offer possibilities. We pride ourselves on giving back to the communities that we serve by providing quality and comprehensive insurance solutions. We are a not-for-profit life insurance Society, which means the sales from these financial service products help fund member benefits along with social, educational, and volunteer programs designed to respond to community needs.

Our portfolio is extensive, ranging from various life insurance policies to our annuities to support your financial needs no matter what stage of life you’re in.