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  • Writer's picturejimmy ting

Why Right NOW is the Perfect Time to Buy Life Insurance

Updated: Mar 16, 2020

In the face of widespread fears about infections and quarantines, many Americans are getting their financial houses in order and You should too.

Right now it the perfect time to do that.

Life insurance consumers now have options for speedy applications.

Accelerated Underwriting.

If you are under 35, non-smoker, and want to get a Life Insurance Policy of $1,000,000 or less, lots of carriers can offer an accelerated underwriting process and have your application processed in no time.

Life Insurance in the Age of Viruses

Any traditional life insurance policy, such as term life insurance, will be a suitable financial safety net.

The modern life insurance policy covers death by any cause at any time in any place, except for suicide within the first two policy years.

An accidental death & dismemberment policy (AD&D) is much more limited and covers deaths only when they’re accidental, such as a plane crash or accidental fall. It doesn’t cover deaths caused by illness and disease, or even just old age.

Getting Life Insurance Fast

The traditional life insurance application process can take several weeks to complete. There’s typically a lengthy application, a life insurance medical exam, and then time for the life insurance company to receive doctors’ records and verify information about you. Many life insurance applications use this underwriting process today.

But life insurance consumers now have options for speedy applications. No-exam life insurance policies skip the medical exam and shorten the underwriting time.

Instant policies are generally available to younger and healthier people. If you don’t qualify for instant life insurance, you may be sent through a more traditional process with a medical exam.

These fast life insurance option using “accelerated underwriting” can take about 10 minutes to complete.

Consumers may have new reasons to try to avoid a life insurance medical exam, aside from convenience. There was a recent customer who wanted a no-exam policy because they didn’t want an examiner coming to the house and didn’t want to go to a exam center, in order to avoid a possible coronavirus exposure.

Advice for Life Insurance Panic Shoppers

If coronavirus concerns have compelled you to get life insurance, that’s not necessarily a bad thing. Often life insurance shopping sits at the bottom of the to-do list.

The important thing is to take action.

No matter what has brought you to the tipping point for buying life insurance, the important thing is to take action. The problem is that you’re not getting any younger and you might run into an unexpected health issue later. It’s important to lock these things in now.

Even with a short timeline, you want to make the right pick for a coverage amount and policy type.

If you find yourself panic shopping for life insurance, stop and focus instead on getting the right amount of coverage for the right length of time.

Don’t focus on the possible manner of death because that’s impossible to predict. An experienced life insurance agent can help with valuable advice if you are not comfortable shopping on your own.

For more information about Life Insurance call JCT Insurance Agency at (626)354-2000 or email

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