Latern Instant Term Insurance Review - Apply Online and Buy Coverage In Minutes
In 2024, Sammons Financial Group acquired Bestow Life Insurance Company and officially relaunched it as Lantern Insurance Company on July 1, 2024.
Like its predecessor, Lantern Insurance Company offers instant-issue term life insurance with no medical exam and no in-person meetings required for approval—making it a fast, convenient solution for today’s digital-first consumers.
Sammons Financial Group, an A- “Excellent” rated organization, also owns North American Company for Life and Health Insurance, founded in 1890, and Midland National Life Insurance Company, founded in 1906. Both carriers hold A+ (Superior) ratings from AM Best, reflecting their long-term financial strength and stability.
This article provides an overview of Lantern Insurance, the types of life insurance policies they offer, and what makes them unique. We’ve also included sample rates and underwriting guidelines to help you understand your eligibility and find the best coverage for your needs.
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What Is Instant Term Life Insurance?
Traditionally, applying for life insurance can take four to eight weeks before you receive a decision. For many people, that’s simply too long to wait, especially when coverage is needed quickly. That’s where instant term life insurance from Lantern can help.
With Lantern’s instant-issue term life insurance, eligible applicants can apply online and get approved in as little as 15 minutes. No medical exams or in-person meetings with an agent are required.
Lantern uses algorithmic underwriting, an instant, fully electronic review process that analyzes key data such as your Medical Information Bureau (MIB) records, prescription history, attending physician statements, driving record, and criminal background. This technology allows Lantern to determine your risk profile and eligibility in real time, delivering fast, reliable results without the traditional waiting period.
Keep in mind that if you have certain health issues or don’t meet Lantern’s build (height and weight) requirements, your application may not be approved. Lantern also considers your driving history and prescription data as part of its instant underwriting process.
Who Is Eligible For Instant Life Insurance Online?
Lantern’s instant term life insurance is usually available to residents of every U.S. state except Maine and New York. And coverage is usually open to U.S. residents between ages 18 and 60 who meet the company’s underwriting requirements.
However, in August 2025, Latern discontinued their online quoting feature and stopped offering life insurance policies to new clients. Fortunately, there are other life insurance providers with similar products available.
You can get an instant life insurance quote online by completing the form below. We work with over 60 highly rated insurance companies, and many offer no-exam life insurance policies and instant-issue coverage for fast, hassle-free approval.
How Much Life Insurance Coverage Can I Apply for?
Currently, Lantern Insurance Company offers term life insurance policies exclusively. Coverage is available for applicants ages 18 to 60, with level term lengths of 10, 15, 20, 25, or 30 years. Coverage amounts range from $100,000 to $1,500,000, giving policyholders flexibility to personalize their coverage to meet their needs and financial goals.
Latern has some age restrictions on their term policies. For example, you must be:
- Age 45 or younger to purchase a 20-year term
- Age 55 or younger to purchase a 10-year term
What is a level term life insurance policy?
Essentially, a “level term” life insurance policy means that for the entire term (length) of your coverage, your premium and death benefit are guaranteed not to change, regardless of any changes to your age or health. The life insurance company cannot increase your rates or decrease your coverage for any reason during your term.
What If I Outlive My Policy?
Since term life policies are meant to be temporary, most people outlive their coverage. Term life insurance is designed to provide affordable protection for a specific period of time and to help secure important life events such as a child’s education, a mortgage, or a buy/sell agreement.
While the need for life insurance may decrease as we get older, many people still prefer to keep a smaller amount of coverage in place—just in case something unexpected happens.
Unfortunately, Latern doesn’t currently offer any policy riders, such as a conversion option. If you decide to go with Latern, it may be a good idea to layer your life insurance coverage by either purchasing an additional smaller permanent policy or buying another term policy from a different company that includes a conversion or annual renewal option.
Can I cancel my policy?
Yes, you can cancel your policy at any time. Simply contact your life insurance agent to begin the process. If you’ve prepaid, some companies may even offer a pro-rated refund.
Latern also notes that all their plans are
What’s The Application Process Like?
Lantern’s application process is quick and straightforward—typically taking only 10 to 15 minutes to complete. During the application, you can expect to provide basic information such as:
- Name
- Height and weight
- State of residence
- Date of birth
- Gender
- Medical history
- Tobacco usage
- Beneficiary/beneficiaries
- Desired coverage amount
- Length of term
After submitting your information, you would normally receive an instant quote. One of the benefits carried over from Lantern’s predecessor, Bestow, was that applicants could view quotes without entering contact information. You could also save your progress and return later if you needed more time to decide on your rates or coverage amount.
Important Note: Lantern’s online quoting tool is currently unavailable and has been down since August 2025. Hopefully, it will be restored soon. In the meantime, other companies such as Quility offer comparable instant term life insurance products. You can also request a quote from one of our top-rated providers in less than a minute to compare your best options today.
Sample Life Insurance Quotes
Below, we’ve provided sample life insurance rates from Lantern Insurance to help you estimate the cost of your policy. The monthly rates shown are for males and females applying for a 20-year term life insurance policy.
Monthly Rates for an Applicant in Excellent Health – 20-Year Term
| Age | Female | Male |
| 20 | $18.59 | $35.42 |
| 30 | $21.02 | $37.53 |
| 40 | $41.91 | $58.60 |
| 50 | $96.82 | $135.50 |
*Sample rates are accurate as of 08/01/2025 and are provided for illustrative purposes only.
Apply for Instant Term Life Insurance Online
If instant issue term life insurance from a company like Lantern sounds like a good fit, our licensed agents can help you compare top-rated providers and determine the best option for your needs.
Does Lantern sound like the right match for you? If the answer is yes—what are you waiting for? Apply online today and get coverage in minutes!
As mentioned earlier, when you apply online, you’ll be asked a few basic questions about your age, lifestyle, health status, and personal and family medical history. This information is verified through trusted third-party databases, such as the Medical Information Bureau (MIB), to confirm its accuracy.
The entire process takes about 15 minutes, and if you’re approved, your coverage can begin immediately.
To get started, enter your information below to receive an instant decision and secure affordable life insurance today.
About JRC Insurance Group
JRC Insurance Group represents over 60 top-rated life insurance companies, including Lantern Insurance Company, Midland National, and North American Company for Life and Health Insurance.
At JRC, we’ve helped thousands of families and businesses find the right life insurance coverage, and we can help you too! Our agency is licensed in all 50 states and is independently owned and operated.
As a non-partial, no-fee life insurance brokerage, our goal is to match each client with the best policy available by shopping and comparing rates from 63 highly rated insurers. Because we have access to dozens of companies and their underwriting guidelines, we’re able to save our clients time and money.
Most importantly, our services are completely free, and there is no cost to apply for coverage. Give us a call toll-free at 855-247-9555, or request a free quote online to compare rates and options from dozens of insurance companies in less than a minute.
Written by:
Clifford Pendell
Managing Partner and Co-founder
Cliff is a licensed life insurance agent and one of the owners of JRC Insurance Group. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.
Expert reviewed by:
Louis Lopes, CLU ChFC
Chartered Life Underwriter, Licensed Life and Health Agent
Louis has been in the insurance business for over 30 years. He specializes in “high risk” cases as well as more complex coverages for long term care, disability, and estate planning.
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