How Instant-Issue Life Insurance Differs from Working with an Advisor

Matt Byrnes March 14, 2023

You know when you turn on the television or radio and hear the ads for affordable life insurance from different instant-issue life insurance companies? Have you ever looked at the websites of those firms and seen what they offer? Ever wonder if all of it sounds too good to be true?

Here are a few thoughts to consider when looking for online/instant life insurance.

  • There are limits on how much you can apply for before they mandate an exam.
  • There are limits of products – most only offer term insurance, not permanent.
  • There are limits on state availability.
  • Most have no riders available.
  • Most have no conversion options from term to permanent.
  • Not all the best-rated carriers serve/back all platforms.

An Advisor Benefits You

Taking some of these possible misunderstandings into account, working with a life insurance advisor can help avoid potential pitfalls that one may experience when applying for life insurance. Below are just some of the benefits that an advisor provides that can help best prepare you and your family.

  • An advisor will understand how much life insurance you need by completing a confidential capital needs analysis that shows your potential life insurance gaps for you and your family.
  • A strong advisor will have access to all products and types of polices including Term, Whole Life, Universal Life, Disability, Long Term Care, Annuities, Etc.
  • A well-rounded advisor will have no state or product placement limitation.
  • If permanent life insurance is issued, depending on the product, it can be customized with riders and even the flexibility of premiums that fit your needs.
  • Most, if not all, term polices that are placed contain conversion options that allow you to have a permanent policy with no medical underwriting.
  • Most importantly, a top advisor will have access to multiple carriers and all of their products to find what best fits your needs.

Accelerated Underwriting

A strong advisor has the access to insurance carriers that offer similar programs to those that you hear about in those often-heard commercials. Many highly rated carriers offer online or phone call accelerated programs that allow you to apply for insurance without taking a medical exam, depending on your health.

Utilizing one of these programs with your advisor gives you the best of both worlds. You get the online and instant feel of those advertised programs while still having the policy built to fit your personal needs.

At Oswald Companies, we work with highly rated carriers like Penn Mutual, Symetra, Lincoln Financial, Protective and Principal that all offer programs of this sort.

Insurance Exam Tips

Even after exhausting all the accelerated underwriting programs, there is a chance that an insurance exam is needed when applying for what your advisor has designed.

Below are some tips to ensure the best examination results and avoid artificially high blood pressure/pulse readings.

  • Avoid foods unusually high in salt content for 24 hours prior to the exam.
  • Get plenty of sleep the night before your exam.
  • Fast at least six hours prior to the exam.
  • Casual tobacco and marijuana use should be avoided for two to three weeks prior to the exam.
  • Avoid all alcoholic beverages at least 24 hours before your exam.
  • Avoid caffeine beverages at least three hours before your exam.
  • Drink a large glass of water one hour before your exam so you can easily obtain a urine specimen.
  • Avoid strenuous exercise at least 24 to 48 hours prior to your exam.
  • Make a list of all your current medications and bring it to the exam. Be sure to include dosage, frequency and name of prescribing physician to save time during the exam.

With so much to consider, obtaining life insurance on your own can be intimidating and overwhelming, but it doesn’t have to be. Oswald Companies’ seasoned team can help you navigate the process from start to finish, ultimately finding the best policy to suit your needs.

For more information, please contact me directly.

Matt ByrnesMatt Byrnes
Life Sales Business Development
Oswald Specialty Life




Note: This communication is for informational purposes only. Although every reasonable effort is made to present current and accurate information, Oswald makes no guarantees of any kind and cannot be held liable for any outdated or incorrect information. View our communications policy.