How to get life insurance online: A guide to choosing your policy – Get our quote in 2 minutes

Personal Finance Insider writes about products, strategies and tips to help you make smart decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective. Getting life insurance required you to work with an agent, but today it is easy to get the coverage you need online. Bestow, Haven Life, Policygenius and Fabric all offer affordable online options and some don't even require a medical exam for healthy candidates. Filling in an online application is easy. After that, you may need to schedule a medical exam at home or answer some follow-up questions on the phone. Browse the life insurance options of Bestow, Haven Life, Policygenius and Fabric »By now you are probably used to how the Internet can speed up small tasks that simplify life, such as saying goodbye to a drive, ordering food, finding a handyman or any number of minor chores. But as time goes on, more and more important jobs are making their way into the digital sphere – to the point where checking out a big ticket item from the to-do list might be just a few clicks away. A prime example? Life insurance Why you need life insurance You probably already know what life insurance is and why you need it, but just in case: it is a contract with an insurance company that you pay on a basis monthly, just like health insurance. In exchange for paying these premiums, the company will pay a fixed sum in the event of death. It's a way of ensuring that your loved ones are cared for in your absence, with beneficiaries often using their payments to replace missing income, cover ongoing mortgage payments or pay off debts. For many, such policies serve as both insurance and reassurance, but getting coverage often involved a significant barrier to entry. Applying for life insurance could mean starting a boring to-do list, meeting personal needs such as a doctor's visit, documents, waiting times, and even urine and blood samples. After all, it's 2020 and many companies are realizing that your time is more precious than ever. Brands like Bestow, Haven Life, Policygenius and Fabric all offer low cost online options, allowing you to select the best coverage for you and your loved ones from the comfort of your home. Not only is the online application process significantly shortened, which, as everyone who bought traditional life insurance knows, is huge, but the fact that so many companies have gone digital makes it incredibly easy to compare quotes and coverage between brands. Some even provide live assistance during the application process, for anyone who misses that human element. How to Apply for Online Life Insurance For most online insurance companies, filling out an application will follow the same basic format. You will answer a variety of questions from a variety of categories that could include your health ("Are you a smoker?"), Your family's health ("Any history of cancer in your family?"), Your job ("Is it your particularly dangerous career? "), and your lifestyle (" Do you get into the habit of diving or jumping out of airplanes? "). At the same time – and with your authorization, of course – the company will comb other sites for information, including the prescriptions you have filled in, checking your motor vehicle record for any driving violations and identifying the MIB Group records for any information. Relevant Health Insurance Applications Once collected, all of this information is combined and linked to a process called "accelerated underwriting", which replaces a human underwriter with an algorithm that quickly calculates the probability of – and there is no easy way to say it – your premature death. This phase of the subscription process took up to 90 days. But the algorithm works so quickly on some sites that you'll find out if you've been approved within minutes of submitting your application, but don't stop there! Comparative shopping is the most important part of this whole operation, not to mention one of the biggest benefits of the online application, so it is crucial that you get the most out of it. With that in mind, we have decided to expose some of our classified life insurance options for those who buy online, with a bit of a fuss about each to distinguish it from its peers. The Fair offers unique short-term life insurance policies. it's typically more expensive and designed to last a lifetime) starts at a minimum of 10 years and increases from there, but Bestow offers unique short-term plans. The shortest of the company starts in just two years and is the easiest to qualify, making it ideal for those who are in transition stages such as students, people on extended family leave or anyone between one job and the other wants to bridge the coverage gap, but isn't quite ready to make a new long-term commitment. By increasing convenience, Bestow does not even require a medical examination and can be canceled at any time. Plans start at $ 50,000, with competitive rates starting at just $ 5 a month. However, coverage is limited to $ 1 million, which may not be enough for some high earnings.It is also important to note that not all of them will be approved, as Bestow only offers coverage for people between the ages of 21 and 54. Bestow Insurance Quote »Haven Life Offers Up To $ 3 Million Coverage For those seeking slightly heavier coverage, Haven Life is worth considering. The company offers plans with coverage of up to $ 3 million, with integrated benefits such as an accelerated death benefit, which allows terminally ill patients to withdraw some of their benefits in advance to cover the rising costs of health care and guaranteed renewability, which guarantees that you will be able to renew your policy at the end of its mandate, regardless of your state of health. These factors make Haven Life an excellent choice for those who have pre-existing medical conditions or a family history of it, but there are also some potential obstacles to keep in mind. First, Haven Life offers plans only to people aged 64 and under. For another, higher payment plans – which are something above $ 1 million – require a medical examination in person and some waiting, which is something to note when planning your time. If you are a healthy candidate under the age of 60, however, you may qualify for Haven Life Instant Term, which offers immediate approval for plans of up to $ 1 million without a medical exam. But even if your plan requires scrutiny, Haven Life covers you, with temporary coverage of up to $ 1 million that comes in while you wait, for the cost of the one-month premium. This coverage will remain in effect for the remainder of the process, ending only when you have full coverage, cancel your application or be denied. Get a life insurance quote from Haven Life »Policygenius aggregate offers from a variety of insurance providers If your primary concern is finding the lowest premiums or maximum coverage limits, look no further than Policygenius. The company is a third party insurance broker, which means it searches for you, ordering all the relevant information from a group of different companies to help you find the best – and cheapest – policy for you. To begin, there is a mini quiz that asks you the age, location and length of the desired term and spits roughly how much you would pay per month for policies from $ 100,000 to $ 10 million . If you see numbers that you like there, you can immerse yourself in reality, with a larger questionnaire that can be browsed independently or with an option for further support. (And if you have another significant one, the site also offers a time-saving measure to get quotes for both at once.) Once your application is complete, Policygenius will present you with a series of quotes from companies whose financial stability guarantees , all organized by price and with some relevant highlights to help you compare and contrast. It is only when you actually select a policy that Policygenius will ask you for your personal contact information, at which point your representative will quickly call you for verification and then schedule the medical exam. Because yes, Policygenius requires a medical examination for all candidates, but don't worry: it's not as complicated as you might think. A qualified nurse will visit you in your office or home to administer what is essentially a physical body and once they have signed up to your health, it's as easy as signing your policy by email and you're out and running. Policygenius »Fabric insurance quote is perfect for families with children. For families with young children, Fabric quickly became a favorite, with its reduced options and the blink of an eye application process. own words, "responsible humans with children", the longest duration offered is 20 years, to correspond to the time when your children will be at home. Plans range from $ 100,000 in coverage up to $ 5 million. The policies provide for a minimum number of riders, for the most part, but offer some financial instruments suitable for families. These include help in creating free wills to help you appoint a guardian for your children, plus a dashboard that makes financial account information, such as your IRA, 401 (k) and banking information, available for your spouse. (And easily navigated, should anything happen to any of you.) Like Policygenius, the process of getting a quote takes less than a minute, asking only a few basic questions. From there, your complete application for Fabric Premium should last about 10 minutes and, if it does not generate any red flags, you may benefit from underwritten medical coverage without a person exam. Some people will be required to submit a no economic exam, but a Fabric representative first turns with follow-up questions, to see if that step can be avoided. But even if you don't qualify immediately, those between 25 and 50 can collect Fabric Instant coverage, which pays for accidental deaths, while continuing to seek coverage in Fabric Premium, which also covers illness-related deaths. Get a Life Insurance Quote from Fabric »Maybe you go with one of the options above, or maybe you find coverage elsewhere that is perfect for you and your needs. But either way, you can feel comfortable knowing that your loved ones are cared for. In an ideal world, your life insurance policy will not become a factor for miles along the way, but if you are financially supporting elderly parents or -laws, young children or a partner who relies on your income, we don't have to tell you which comfort may be knowing that you have done everything you can to help protect their financial needs. Editor's Note: This post has been updated to clarify that online businesses that sell life insurance may not be the most efficient option for people with pre-existing medical conditions, thrill seekers or those who work in places of dangerous work.