How to get life insurance
Getting life insurance starts with deciding what type you need, then getting quotes from insurers, answering health questions, and waiting for approval. Most people can get a policy in two to four weeks. You do not need a broker or agent — you can buy directly from insurers online or by phone — but some people find an agent helpful for comparing options.
The process is straightforward for people in good health. If you have a medical condition or take medications, the underwriting takes longer because the insurer will ask for medical records and may require a phone call or exam. Either way, you are not locked in during the approval period — you can cancel anytime before the policy starts without owing anything.
Key Takeaways
- Decide between term life (temporary, cheaper) and permanent life (whole life or universal life, more expensive but lifelong) based on how long you need coverage.
- Get quotes from at least three insurers online or by phone to compare prices, since rates vary widely for the same coverage amount.
- You will answer health questions on the application, and the insurer may request medical records or schedule an exam depending on your age and coverage amount.
- Approval typically takes two to four weeks for straightforward cases and longer if the insurer needs medical information or clarification.
- You can cancel during the approval period without penalty, and your coverage does not start until you pay the first premium.
Decide what type of life insurance fits your situation
Term life insurance covers you for a set period — usually 10, 20, or 30 years — and costs less per month. If you die during the term, your beneficiary gets the death benefit. If the term ends and you are still alive, coverage stops and you get nothing back. Term is the right choice if you need coverage while your kids are young, while you have a mortgage, or while you are paying off debt.
Permanent life insurance (whole life or universal life) covers you for your entire life as long as you pay premiums. It costs more per month but builds cash value over time — money you can borrow against or withdraw. Permanent insurance makes sense if you want lifelong coverage, have dependents who will always need support, or want to leave money to your estate.
Most people start with term because it is affordable and does the job. You can always buy permanent insurance later if your situation changes.
Decide how much coverage you need
The death benefit is the amount your beneficiary receives. A common rule is to buy coverage equal to 10 times your annual income, but your actual need depends on your debts, dependents, and goals. If you have a mortgage, young children, and a spouse who does not work, you likely need more coverage than someone with no dependents and no debt.
Use a simple calculation: add up what you want to cover (mortgage balance, kids' college, funeral costs, income replacement for your family for a set number of years) and subtract what you already have (savings, other insurance through work). The difference is roughly what you need.
You can always request a higher or lower amount when you get quotes. Insurers will not approve coverage so high that it seems suspicious, but most people can get the amount they actually need.
Get quotes from multiple insurers
Rates vary significantly between insurers for the same person and coverage amount. A 40-year-old in good health might pay $30 per month at one company and $45 at another for the same $500,000 term policy. Getting quotes from at least three insurers takes 15 to 30 minutes and can save you hundreds of dollars per year.
You can get quotes online without talking to anyone — most insurers have quote tools on their websites where you enter your age, health status, and desired coverage amount. You will get an estimate immediately. If you want to move forward, you then complete a full application.
Major insurers include State Farm, Mutual of Omaha, Principal, Transamerica, and Protective. Online-only companies like PolicyGenius and Haven Life often have competitive rates. An independent agent can also pull quotes from multiple companies at once, which saves time if you prefer talking to a person.
Complete the application and health questions
Once you choose an insurer, you will fill out an application with personal information (name, address, date of birth), work history, and health history. Be honest and thorough — the insurer will verify what you say, and lying on an application can void your policy later.
Health questions typically ask about current medications, past diagnoses, surgeries, hospitalizations, and family medical history. You will also answer questions about smoking, alcohol use, and dangerous hobbies. If you have a condition like diabetes or high blood pressure, disclose it — many people with common conditions still get approved at standard rates.
The application takes 20 to 45 minutes. You can do it online, over the phone with an agent, or on paper. Online is usually fastest.
Provide medical records or take an exam if required
For smaller coverage amounts (usually under $500,000) and younger applicants in good health, the insurer may approve you based on your answers alone. For larger amounts or if you have a medical condition, the insurer will request medical records from your doctor or may schedule a phone call with a nurse or a brief in-person exam.
If an exam is required, the insurer arranges it — you do not pay for it. The exam is usually simple: blood pressure, height, weight, blood and urine samples. It takes 15 to 30 minutes and often happens at your home or workplace.
Medical record requests take one to two weeks to gather and review. This is the most common reason approval takes longer than two weeks. You can speed this up by asking your doctor's office to send records directly to the insurer rather than waiting for them to request it.
Wait for underwriting and approval
After you submit your application, the insurer's underwriting team reviews everything and makes a decision. For straightforward cases with no health issues and no exam needed, this takes three to seven business days. If medical records or an exam are involved, add one to three weeks.
The insurer will contact you if they need clarification or additional information. Once they approve you, they send a policy document and a bill for your first premium. Your coverage starts on the date you pay that first premium — not before.
You can cancel anytime during the approval process without owing anything. Once your policy is active, you have a grace period (usually 30 days) to pay each premium before coverage lapses.
Pay your first premium and activate coverage
After approval, you receive an invoice for your first premium. You can usually pay online, by check, or by automatic bank draft. Once the insurer receives payment, your coverage is active. Your beneficiary is now protected if something happens to you.
Set up automatic payments so you do not miss a premium and lose coverage. Most insurers offer a small discount (usually 2 to 5 percent) if you choose automatic payment.
Keep your policy documents in a safe place and make sure your beneficiary knows the policy exists and where to find the documents. Many people keep a copy in a safe deposit box or tell a trusted family member where the policy is stored.
Frequently Asked Questions
Do I need a medical exam to get life insurance?
Not always. Smaller coverage amounts and younger applicants in good health often get approved based on health questions alone. Larger amounts or existing medical conditions usually trigger a request for medical records or a brief exam. The insurer decides based on your age, coverage amount, and health history.
How long does it take to get approved?
Two to four weeks is typical for straightforward cases. If the insurer needs medical records or an exam, add one to three weeks. You can ask your doctor to send records proactively to speed things up. Some insurers offer expedited underwriting for an extra fee.
Can I get life insurance if I have a health condition?
Yes. Common conditions like high blood pressure, diabetes, and high cholesterol do not automatically disqualify you. You may pay a higher rate than someone without the condition, but most people with managed health issues still get approved. Serious conditions like cancer or heart disease are harder but not impossible — rates will be higher.
What happens if I lie on the application?
The insurer verifies information through medical records and background checks. If they find you lied, they can deny a claim or cancel your policy. Always answer honestly, even if you think a condition might raise your rate. A higher rate is better than no coverage or a denied claim.
Can I cancel my policy after it starts?
Yes, anytime. If you cancel a term policy, you simply stop paying premiums and coverage ends. If you cancel a permanent policy with cash value, you can withdraw the accumulated cash value. There is no penalty for canceling, but you lose coverage once you do.