With these top-rated firms, you may apply for and purchase life insurance on the same day.
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Until recently, getting life insurance may take several weeks. While this is still true for typical plans, a growing number of companies are also offering quick life insurance. These plans, often known as "rapid life insurance," are ones that you can apply for online and get a decision on in a matter of minutes.
To compile this list, our specialists looked at insurers who provide life insurance online and provide coverage of at least $100,000. Then we looked at policy features, age eligibility, possible riders, and the amount of coverage you can get without having to do a medical exam.
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The best fast life insurance companies
| company | Instant life coverage amounts |
|---|---|
| Haven Life | $25,000 to $3 million |
| Fabric | $100,000 to $1.5 million. |
| Lincoln Financial | $100,000 to $1 million. |
| Bestow | $50,000 to $1.5 million. |
| Erie Insurance | $10,000 to $500,000. |
| Ladder Life | $100,000 to $3 million |
Brighthouse Financial | $100,000 to $2 million |
How we evaluated the best life insurance companies
Our editorial staff determines NerdWallet's life insurance ratings. Consumer feedback, weighted averages of financial strength ratings, which reflect a company's capacity to pay future claims, and complaint index scores from the National Association of Insurance Commissioners for individual life insurance are used to determine star ratings. We converted the scores to a curved 5-point scale to determine each insurer's rating.
These rankings are intended to serve as a reference, but we recommend that you shop about and compare life insurance quotes from various providers to obtain the best deal. NerdWallet is not compensated for any of its reviews. Please review our editorial policies.
Pros and Cons of the Best Fast Life Insurance Companies
Read the brief descriptions below and click on the NerdWallet review links to learn more about each firm on our list.
Brighthouse Financial .
NerdWallet's verdict
Brighthouse's SimplySelect can be an excellent choice if you need a lot of life insurance quickly. Qualifying candidates can purchase coverage worth up to $2 million, with the option to lower the amount after one year of coverage.
The insurance has an expedited death benefit rider and can subsequently be changed to a permanent policy. It's also renewable up to age 95, which means you may maintain the policy after the original term ends without having to reapply for life insurance, but your rates will go up.
Brighthouse SimplySelect is an instant life policy.
The age range for eligibility is 25 to 50 years old.
Amount of coverage: $100,000 to $2 million.
All states except CA, IL, LA, ME, and NY are available.
Ten, twenty, or thirty-year terms are available.
» Brighthouse Financial life insurance (complete review)
Ladder Life
NerdWallet's verdict
Our opinion: Ladder stands out since it offers up to $3 million in immediate life insurance coverage for qualified applicants, making it one of the most generous plans on our list. If you want a bigger policy and are prepared to take a chance, you may apply for up to $8 million in coverage, but you may have to complete a life insurance medical test.
To provide plans across the country, the insurtech has partnered with Fidelity Security Life Insurance Company and Allianz Life of New York. You may lower your coverage online or through the app, and the changes take effect immediately. You'll need to fill out an application form to enhance your coverage.
Ladder Term Life is an instant life insurance policy.
The age range for eligibility is 20 to 60 years old.
Amount of coverage: $100,000 to $3 million.
All states are available.
Term lengths: 10, 15, 20, 25 or 30 years.
» Ladder Life Insurance: Read the Full Review
Haven Life
NerdWallet's verdict
Our opinion: This insurtech, backed by MassMutual, provides qualifying applicants up to $3 million in quick life insurance coverage. Your coverage might be provided in minutes if you're authorized.
Both policies have entirely online applications. Haven Simple does not need a medical exam, however certain applicants for Haven Term may be required to undergo one. Two life insurance riders are included in the plans at no additional cost. If you're diagnosed with a terminal disease, the expedited death benefit rider allows you to receive a portion of your death benefit, while the accidental death benefit rider pays out an additional lump amount if you die in an accident.
If you decide you need extra life insurance within the first 90 days, you can raise your coverage and lower it at any time.
Haven Simple and Haven Term are two instant life insurance products.
Age range for Haven Simple is 20 to 55, while for Haven Term is 20 to 64.
Haven Simple coverage is from $25,000 to $500,000, while Haven Term coverage ranges from $250,000 to $3 million.
Haven Simple is available in all states except California, Delaware, South Dakota, North Dakota, and New York; Haven Term is available everywhere.
Haven Simple has a term length of 5, 10, 15, or 20 years; Haven Term has a term length of 10, 15, 20, 25, or 30 years.
Haven Life Insurance » Read the full review: Haven Life Insurance
Fabric
NerdWallet's verdict
Fabric sells immediate insurance valued up to $1.5 million, in our opinion. If the insurer has more questions about your health, you may be required to take a medical exam.
Fabric's policy, which is issued by Vantis Life, has an expedited death benefit rider and allows you to change to a permanent policy until the first policy anniversary after you reach 65. If your life insurance needs change, you can also reduce your coverage. If you die while your policy is still valid, Vantis Life will give 1% of the policy's value (up to $100,000) to charity.
Fabric Term is the instant life policy.
The age range for eligibility is 21 to 60.
Amount of coverage: $100,000 to $1.5 million.
Except for Montana and New York, all states are available.
10 years, 15 years, 20 years, 25 years, or 30 years.
» Fabric life insurance: read the full review
Lincoln Financial
NerdWallet's verdict
Our opinion: You may apply for a no-exam coverage with Lincoln Financial either online or over the phone. Before your term policy ends or you reach your 70th birthday, whichever comes first, you can upgrade to permanent coverage.
A kid rider is available from the insurer, which can cover numerous children. For an extra charge, you may add a premium waiver or an expedited death benefit rider to your policy.
The coverage is assured to be renewed until you reach the age of 95.
Lincoln TermAccel is an instant life insurance policy.
The age range for eligibility is 18 to 60 years old.
Amount of coverage: $100,000 to $1 million.
All states except New York are available.
Term durations range from 10, 15, 20, and 30 years.
» Lincoln Financial life insurance (complete review)
Bestow
NerdWallet's verdict
Bestow Term is a good option for flexible coverage. The insurer provides quick insurance spanning 10 to 30 years, including less frequent lengths like 15 and 25 years, thanks to a relationship with the North American Company for Life and Health Insurance. The application may be completed entirely online.
You may buy up to $1.5 million in coverage without a medical checkup if you're eligible, and the insurance is available to those aged 18 to 60.
In terms of disadvantages, you won't be able to tailor your coverage with riders, and persons with pre-existing medical issues may be rejected coverage.
Bestow Term is an instant life insurance coverage.
The age range for eligibility is 18 to 60 years old.
Amount of coverage: $50,000 to $1.5 million.
All states except New York are available.
10 years, 15 years, 20 years, 25 years, or 30 years.
» Check out the entire review here: Bestow life insurance
Erie Insurance
NerdWallet's verdict
Erie's policy is one of the most flexible on the market, in our opinion. The insurer provides a term or whole life insurance option, which is uncommon for immediate plans. If you meet the requirements, your coverage may begin the same day you apply. Otherwise, you may be required to undergo a medical examination.
Small amounts of coverage, starting at $10,000, and terms as short as five years are available. An expedited death benefit rider is added by default.
ERIExpress Life is an instant life insurance coverage.
The age range for eligibility is 18 to 55 years old.
Amount of coverage: $10,000 to $500,000.
All states except New York are available.
5, 10, 15, 20, or 30 year terms are available.
» Erie life insurance is discussed in detail in this study.
Alternatives to the finest life insurance policy available right now
Consider applying for a typical life insurance coverage if you aren't in a hurry. You'll almost certainly have to take a medical exam, but if you're in good health, you might be able to save money on your insurance.
Term life insurance is for a certain period of time, whereas permanent life insurance is for an indefinite period of time.
Life insurance provides coverage for the rest of one's life and accumulates financial value over time.
Methodology for Insurance Complaints
In the 2018-2020 reporting period, NerdWallet investigated complaints submitted by state insurance regulators and reported to the National Association of Insurance Commissioners. Each year, the NAIC generates a complaint index for each subsidiary, calculating its proportion of overall complaints compared to its size, or share of total premiums in the industry, to see how insurers compare. NerdWallet constructed a comparable index for each insurer throughout the three-year period, weighted by market shares of each subsidiary, to analyze a company's complaint history. Auto, house (including renters and condo), and life insurance ratios are all calculated independently.