This is basically a valid question that we are often asked, but unfortunately there is no simple answer to this particular question.
There are so many factors that can influence the time it takes the application for life cover to the insurance company to obtain life insurance policy. life insurance companies have a set of guidelines to work for when it comes to evaluating a proposal form. For example, the amount of life cover in relation to their age may have some influence on the amount of coverage you request and the older you are, the more potential risk to the insurer if a younger person applied to the same level of Life insurance coverage. This is also an addition to your health, occupation and whether you engage in dangerous activities can affect the time required to arrange for a life insurance policy.
However, arranging life cover can take different lengths of time, depending on various factors ,The time required to provide life insurance depends on a number of factors:
If you have had health problems, it may take longer to complete the process that the insurance company may want to write to your doctor or ask you to undergo a medical examination to learn more about your medical history. If your doctor was contacted to complete a questionnaire about your health this would take time to be completed and returned to the insurance company and then they will need to go through the subscription department as well.
If you had to go through a medical examination, it may take some time to arrange an appointment for medical examination. The doctor performing the medical examination must inform the insurance company of its findings and the insurer would need to study the information provided, which would be part of the decision process.
There are many occasions when, after falling within the guidelines of the life insurance company, then you may be accepted immediately for life coverage without the need for further medical information or clarification of anything else in the form proposal. If that were the case, and the life insurance company was good to provide life cover, you may find that the form of the proposed life policy may be supplemented by one or two days.
Finally, the type of life coverage you can apply for may have an impact on the time required to process your request. For example, if you asked for a plan of over 50 life insurance, no medical issues and you do not have to undergo a medical examination, or the insurance company would need to write to your doctor so that such a plan could sometimes be implemented immediately bringing you life coverage instant, without the need of undergoing stress. So in answer to the above question, it can sometimes be possible to go on the risk of the same day you apply. It may take a few days or may take several weeks.