Amy DaniseManaging Editor, Insurance
Amy Danise is the managing editor for the insurance section at Forbes Advisor, which encompasses auto, home, renters, life, pet, travel, health and small business insurance. She is a highly experienced editor, writer and team leader with an extensive background in the insurance sector. With a career spanning more than three decades, she has focused her work on consumer-oriented publications.
Amy Danise
Amy DaniseManaging Editor, Insurance
Amy Danise is the managing editor for the insurance section at Forbes Advisor, which encompasses auto, home, renters, life, pet, travel, health and small business insurance. She is a highly experienced editor, writer and team leader with an extensive background in the insurance sector. With a career spanning more than three decades, she has focused her work on consumer-oriented publications.
Managing Editor, Insurance
Ashlee ValentineDeputy Editor, Insurance
Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. When Ashlee isn't spreading insurance knowledge or solving television murder mysteries, she enjoys spending time with her family (including the furry and feathery ones) on their farm in Kentucky.
Reviewed
Ashlee Valentine
Ashlee ValentineDeputy Editor, Insurance
Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering others to protect life's most important assets. When Ashlee isn't spreading insurance knowledge or solving television murder mysteries, she enjoys spending time with her family (including the furry and feathery ones) on their farm in Kentucky.
Deputy Editor, Insurance
Reviewed
Updated: Jun 26, 2024, 3:32am
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
Our analysis has found that Symetra is the best instant life insurance company. Our other top picks are Ladder, Wysh and Fabric.
The best instant life insurance companies provide the convenience of a quick application approval and no medical exam. For life insurance shoppers in excellent health, instant life insurance is a great way to lock in this financial safety net.
Read more
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Ladder
Maximum no-exam coverage
While medical exams may not be required, certain health information is required as part of the application to determine eligibility for coverage
$3 million
Eligible ages
20-60
Term lengths available
10, 15, 20, 25 or 30 years
On Ladder's Website
While medical exams may not be required, certain health information is required as part of the application to determine eligibility for coverage
$3 million
20-60
10, 15, 20, 25 or 30 years
Summary: Best Instant Life Insurance
| Editor’s Take | Company | Company - Logo | Forbes Advisor Rating | Forbes Advisor Ratings | AM Best rating | Learn More CTA text | Learn more CTA below text | LEARN MORE |
|---|---|---|---|---|---|---|---|---|
| Best overall | Symetra |  | 5.0 |  | A (Excellent) | Compare Quotes | Compare quotes from participating carriers via Policygenius.com | |
| Great for high coverage amount | Ladder |  | 4.5 |  | A- (Excellent) | Compare Quotes | On Ladder's Website | |
| Best for long policy length | Wysh |  | 4.3 | | A++ (Superior) | View More | ||
| Great for price | Fabric by Gerber Life |  | 4.0 |  | A+ (Superior) | Compare Quotes | Compare quotes from participating carriers via Policygenius.com |
How We Chose the Best Instant Life Insurance
4 Best Instant Life Insurance Companies
Best Overall
Symetra
5.0
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Maximum instant life insurance
$3 million
Eligible ages
20-60
Term lengths
10, 15, 20 or 30 years
Compare quotes from participating carriers via Policygenius.com
$3 million
20-60
10, 15, 20 or 30 years
Editors' Take
Symetra’s SwiftTerm policy checks all the boxes in our analysis: Terrific rates, a high amount of coverage available instantly and the ability to decrease your coverage amount later.
If you don’t qualify for instant coverage, the SwiftTerm policy is also available through a relatively quick approval process (accelerated underwriting) and a traditional application process with a medical exam. Because of its low rates it’s worth considering even if you don’t qualify for the instant approval process due to health or other reasons.
Pros
- High amount of instant coverage available ($3 million).
- Ability to decrease coverage amount after one year.
- Policy can be renewed after the level term period ends, until age 95.
More: Symetra Life Insurance Review
Cons
- You’ll need to work with an insurance agent who sells Symetra policies to get the process started.
Great for High Coverage Amount
Ladder
4.5
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Maximum instant life insurance
$3 million
Eligible ages
20-60
Term lengths
10, 15, 20, 25 or 30 years
On Ladder's Website
$3 million
20-60
10, 15, 20, 25 or 30 years
Editors' Take
We like Ladder because you can get a high coverage amount ($3 million) if you qualify for its instant approval process.
For customers willing to do a life insurance medical exam, up to $8 million in coverage is available.
Pros
- Ability to decrease coverage later.
- Can increase coverage, too, but additional underwriting will be required.
- Available in all states.
More: Ladder Life Insurance Review
Cons
- After the level term period ends, you can renew every year but only for 5 more years.
- Some Ladder policies are underwritten by Fidelity Security Life Insurance Co., which has a high level of complaints—almost twice the industry average.
Best for Long Policy Length
Wysh
4.3
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Maximum instant life insurance
$2.5 million
Eligible ages
18-50
Term lengths
2-47 years
$2.5 million
18-50
2-47 years
Editors' Take
We like Wysh for its customizable policy lengths, which can go up to 47 years depending on the age at which you buy. For example, a 30-year-old buyer can lock in a rate until age 65.
Wysh is the digital life insurance subsidiary of Northwestern Mutual.
Pros
- Very competitive rates for buyers in their 30s.
- Short policies available, starting at 2 years.
- Ability to decrease or increase coverage in the Wysh app (additional underwriting needed for increasing coverage).
- “Wysh Granters” can work with beneficiaries to facilitate final wishes.
Cons
- Less competitive rates for buyers in their 40s.
- Monthly “membership” fee required, starting at $4.57 a month.
Best for High Age Eligibility
Fabric by Gerber Life
4.0
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Maximum instant life insurance
$1.5 million
Eligible ages
21-70
Term lengths
10, 15, 20, 25 or 30 years
Compare quotes from participating carriers via Policygenius.com
$1.5 million
21-70
10, 15, 20, 25 or 30 years
Editors' Take
You can buy an instant life insurance policy from Fabric up until age 70—the highest age for instant approval among the companies in our analysis. The level term lengths available will depend on your age—for age 70 it’s 10 years from Fabric.
Pros
- Competitive rates, second only to Symetra among the companies in our analysis.
More: Gerber Life Insurance Review
Cons
- No ability to decrease coverage after buying the policy.
Compare Life Insurance Companies
Compare Policies With 8 Leading Insurers
What Is Instant Life Insurance?
Instant life insurance is a policy that has a very quick approval process that does not require a life insurance medical exam. In many cases the approval process takes only a few minutes. Once approved you can typically complete the purchase right away and have coverage in effect.
How Much Does Instant Life Insurance Cost?
A $500,000 30-year instant life insurance policy for a 30-year-old female costs $28 a month, on average. The same policy for a 30-year-old male costs $37 a month, on average, according to our research.
| Company | Female age 30, $500,000 coverage for 30 years | Male age 30, $500,000 coverage for 30 years |
|---|---|---|
Symetra | $24 | $29 |
Ladder | $30 | $37 |
Wysh | $23 | $38 |
Fabric by Gerber Life | $26 | $31 |
Source: Forbes Advisor research
How to Apply for Instant Life Insurance
Applying starts with getting a quote. Often only minimal information is needed for an initial instant life insurance quote: Your gender, birth date, health level (such as excellent, good, poor) and the amount of coverage you want.
When you get quotes for instant life insurance it’s good to know how much coverage you want and for how long. The instant term life policies in our analysis typically offer level term lengths of 10, 15, 20, 25 or 30 years. During this level term period you lock in the rate.
If you like the initial instant life insurance quote you can proceed with answering more questions to get the final quote and complete the application.
What Can You Expect From an Instant Life Insurance Application?
Life insurance companies offering instant policies will often use data services to verify the information you provide and gather more information about you. When you sign the application you typically sign approval for the insurer to get more data about you—although you may not notice you’ve given this approval if you don’t read the fine print.
Life insurance companies have numerous third-party data sources available to them and may be quickly assessing your personal information, such as:
- Your prescription drug history.
- Your motor vehicle report.
- Your file from the MIB Group, which collects data on past individual life and health applications.
An application generally has three possible outcomes:
| ApprovalYou have been approved and you get the final rate quote. It could be higher (or lower) than your initial quote, based on the additional questions you answered and the information that the insurer gathers about you in the background. |
| DenialYour health may disqualify you from instant life insurance. Instant approval is best suited for those in good or excellent health. |
| Sent for Further UnderwritingApprovals aren’t always black and white. The insurer may want more information about you before it approves or declines your application. In these cases, you may be put into a more traditional underwriting process: You may need to answer more questions and take a life insurance medical exam. |
Pros and Cons of Instant Life Insurance
| Pros | Cons |
|---|---|
No medical exam | Maximum coverage amounts may be smaller than what you need. |
Convenient online process | Better rates may be available by going through a longer underwriting process. |
Quick decision | Certain types of instant coverage such as guaranteed issue life insurance can be very expensive. |
EXPERT TIPS
How to Buy an Instant Life Insurance Policy
Ashlee Valentine
Insurance Editor
Amy Danise
Insurance Managing Editor
Michelle Megna
Insurance Lead Editor
Know Your Coverage Needs
I suggest knowing how much coverage you want and the level term length you need before starting the instant approval process. That way, you can target the companies with the best rates for you.
Ashlee Valentine
Insurance Editor
Compare Quotes
A benefit of instant life insurance is that it’s relatively easy to pinpoint the cheapest companies for your age and health because quotes are readily available online. I recommend comparing several quotes before making your final decision.
Amy Danise
Insurance Managing Editor
Know Your Risk Level
Instant life insurance from the companies we analyzed is geared toward healthy buyers. If you have known medical issues, I suggest being prepared for a traditional underwriting flow with a medical exam instead of instant approval.
Michelle Megna
Insurance Lead Editor
Alternatives to Instant Life Insurance
If the instant life insurance approval process doesn’t work in your favor, there are still ways to get the coverage you need.
- Look at traditional term life insurance. For some buyers the best term life insurance rates are going to come out of a traditional underwriting process with a medical exam. If you have some health issues, it may take a little longer for the approval process, but you could still receive a very competitive price. The same is true for buyers of cash value life insurance.
- Consider guaranteed issue life insurance as a last resort. Guaranteed issue policies require no exam and you can’t be turned down. They are often available instantly and online, but they are generally very expensive.
Other Instant Life Insurance Companies We Rated
| Company | Forbes Advisor rating | Maximum instant life insurance |
|---|---|---|
Lemonade |
3 stars | $1.5 million |
Bestow |
1 star | $1.5 million |
Methodology
To find the best instant life insurance companies, we used our own research. We evaluated 7 companies on these measurements:
- Cost (80% of score): Because price is the primary concern of many term life insurance shoppers, we gave weight to this category. We scored costs based on each company’s rates for 30- and 40-year-old men and women for 10-, 20- and 30-year terms and for coverage amounts of $500,000 and $1 million.
- Option to decrease coverage (10% of score): Companies earned points if they offer the option for policyholders to decrease coverage.
- Option to buy $2 million or more in digital life insurance (10% of score): Companies earned points if they offer the option to buy $2 million or more in digital life insurance coverage.
Read more: How Forbes Advisor Rates Life Insurance Companies
Looking For Life Insurance?
Compare Policies With Life Insurance Companies
Via Policy Genius' Secure Site
Instant Life Insurance Frequently Asked Questions (FAQs)
What types of medical underwriting do instant life insurance policies use?
Instant life insurance companies generally use accelerated underwriting or simplified issue processes. Both of these methods allow you to skip the medical exam but often use data gathered about you from third-party services, such as your prescription drug history. They are typically geared toward younger and healthier buyers.
There are also numerous options for guaranteed issue life insurance, for which you can’t be turned down. But this is generally best suited for people who would be rejected for other types of life insurance and are willing to pay a high price for a small amount of coverage.
Can you get life insurance immediately?
You can get life insurance immediately from the instant life insurance companies in our analysis—as long as your age and health qualify.
You can also get immediate coverage by buying guaranteed issue life insurance.
Can you apply for instant life insurance if you’re a smoker?
Smokers can apply for instant life insurance, although health issues (whether related to smoking or not) could make them ineligible. It’s smart to work with an experienced life insurance agent if you have health issues or are a smoker. An experienced agent will know which insurers are most likely to give you the best life insurance quotes based on your situation.
Are there any age restrictions with instant life insurance?
You’ll typically find an age limit for applying for instant life insurance. In our analysis, age 60 was a common cap.
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