Motorist Life Insurance Company - Approval in Less than 20 Minutes
We’re not talking about getting a quote and setting up an appointment for a phone interview or a medical exam; we’re talking about term life insurance, approved and issued in less than 20 minutes.
Continue reading to learn if you can qualify for a life insurance policy from A-rated Motorist Life Insurance Company. After entering your information online, you’ll receive a decision in 3 minutes or less, without speaking to an agent or an underwriter.
Here’s what we'll cover in this post:Quick Article Guide
Who Is Eligible For Instant Life Insurance Online?
Instant term life insurance online is available in the following states: Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, and Wisconsin.
To qualify for instant coverage with Motorists Life, you must be able to answer “no” to the following health questions:
- Have you applied for insurance in the last 12 months and been declined, rated, or issued “substandard,” or do you have any other pending applications for life insurance coverage with any company including Motorist Life Insurance Company?
- Has the client ever been diagnosed with or treated for any of the following?
- Crohn’s Disease
- Hepatitis C
- Cirrhosis
- COPD
- ALS, Multiple Sclerosis or Muscular Dystrophy
- Cerebral Palsy or Parkinson’s Disease
- AIDS, AIDS-related complex (ARC) or HIV
- Cancer
- Within the last 10 years, has the client used, received treatment for, or been hospitalized for illegal drugs or alcohol?
- Within the last seven years, has the client had a heart attack or stroke, diabetes or cancer?
- Within the last five years, has the client been convicted of a DWI, DUI or OUI?
To see your available options and rates, please enter your information in the form below.
What Is Instant Approval Life Insurance?
Instead of requiring a medical exam to evaluate your overall health, some life insurance companies will electronically review your Medical Information Bureau records, attending physician’s statements, and prescription history to determine your insurability.
The company you decide to apply with will also review your driving and criminal records (if applicable) to determine your overall risk. In the past, this process took at least 24 hours to complete, and after approval, the insurance company would mail a copy of the policy to the insured.
Unfortunately, for most of our clients, waiting a week or more to receive proof of insurance simply isn’t fast enough. Especially when proof of insurance is needed to collateralize a business loan or settle a divorce decree with the courts.
Whatever your need for insurance is, the good news is that the days of taking an exam and waiting 4 to 8 weeks for an approval are over! With the Motorist Insurance Group, an A-rated company that was established in 1928, approvals are almost instantaneous.
In fact, a qualified applicant can expect an approval within 3 minutes of submitting their application online!
How Much Life Insurance Coverage Can I Qualify For?
The Motorist Life Insurance Company offers up to $500,000 of term life insurance to qualified applicants between the ages of 16 and 70. If you need more than $500,000, there are other options are available, but they take longer to get approved.
Based on your current age, here is the longest term you can qualify for:
- Up to Age 48: 30-Year Level Term
- Up to Age 65: 20-Year Level Term
- Up to Age 70: 10-Year Level Term
*The Motorist Life insurance company also offers 15-year level term policies to qualifying applicants.
What is a level term life insurance policy?
For the “term” of your life insurance policy, your coverage is guaranteed not to change, regardless of your age or health. This means that the life insurance company cannot increase your rates or decrease your coverage for any reason - they are guaranteed to stay “level.”
What if I decide to cancel my policy?
You can cancel your term insurance policy at any time without fees or penalties. To cancel your coverage, simply call your insurance provider or stop paying payments. If you’ve paid in advance, most companies will provide you with a pro-rated refund.
What Happens If I Outlive My Term?
Term life insurance is not designed to provide permanent life insurance protection, it is designed to provide affordable coverage for a set amount of time. Most people purchase term life insurance to secure a life event like paying off a mortgage or providing their spouse with an income source until retirement age.
As we get older, our need for insurance usually decreases as our debts are paid off and our children become self-sufficient. However, we understand that life changes are inevitable, so if you’re worried that you might still need some coverage after your term has ended, don’t worry. You’ll still have some options with the Motorist Life Insurance Company.
Here are the two options offered by Motorist Life to extend your insurance policy after your term has ended:
1. Annually Renewable to Age 95
The policies offered by Motorists Life Insurance Company are annually renewable until age 95. This means that after you term has ended, you can continue your coverage for an increased rate each year.
While this option does not require you to reprove your insurability, the cost of coverage will increase substantially each year, which is not affordable for most people living on a fixed income. However, if you’re in poor health, it may be your only option for insurance.
2. Conversion Options Until Age 70
During the term of your policy, or until age 70 (whichever occurs first), you’ll have the option to convert your term insurance into permanent life insurance coverage.
You do not have to convert your entire policy, and you do not have to reprove your insurability, but if you wait until your term expires, this option will not be available. However, you’ll still be able to renew your term each year until age 95.
Sample Life Insurance Quotes
Below we have shared some sample rates from Motorists Life to help you estimate the cost of your policy. The monthly rates we’ve displayed are for a 20-term, but like stated previously, depending on your age, other term lengths may also be available.
Monthly Rates for A Non-Smoking Male in Excellent Health – 20 Year Term
| Age | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
| 30 | $9.00 | $12.00 | $19.00 | $38.00 | $70.00 |
| 40 | $11.00 | $16.00 | $27.00 | $59.00 | $112.00 |
| 45 | $14.00 | $21.00 | $37.00 | $84.00 | $163.00 |
| 50 | $21.00 | $45.00 | $67.00 | $158.00 | $311.00 |
| 55 | $30.00 | $55.00 | $105.00 | $254.00 | $501.00 |
| 60 | $47.00 | $89.00 | $172.00 | $421.00 | $836.00 |
| 65 | $73.00 | $140.00 | $274.00 | $677.00 | $1,349.00 |
Monthly Rates for A Non-Smoking Female in Excellent Health – 20 Year Term
| Age | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
| 30 | $9.00 | $11.00 | $17.00 | $35.00 | $64.00 |
| 40 | $9.00 | $13.00 | $20.00 | $43.00 | $80.00 |
| 45 | $12.00 | $18.00 | $30.00 | $65.00 | $125.00 |
| 50 | $17.00 | $28.00 | $51.00 | $119.00 | $233.00 |
| 55 | $22.00 | $39.00 | $73.00 | $174.00 | $341.00 |
| 60 | $33.00 | $61.00 | $115.00 | $280.00 | $554.00 |
| 65 | $50.00 | $95.00 | $184.00 | $450.00 | $895.00 |
*Sample rates are provided for illustrative purposes only and are accurate as of 01/10/2019.
Buy Term Life Insurance Online
So you've decided to buy life insurance online - great!
When applying for life insurance online, you'll be asked about your age, lifestyle, health status, and personal and family health history, all of which will be confirmed by a third-party vendor like the Medical Information Bureau (MIB) to ensure that all your information is correct.
If your application is accepted, you can start receiving coverage immediately! It really is that easy.
To apply for life insurance online, enter your information below to receive an instant decision.
About JRC Insurance Group
At JRC Insurance Group, we have helped thousands of families and businesses with their life insurance needs, and we can help you too! Our agency is licensed in all 50 states and we’re independently owned and operated.
As a non-partial, no-fee brokerage, our goal is match our clients with the best life insurance options available by shopping and comparing rates from 63 highly-rated insurers. By having access to dozens of companies and their guidelines, we’re able to save our client’s time and money.
Most importantly, our services as completely free, and there is no cost to apply for coverage. Give us a call toll-free today at 855-247-9555, or you can request a free quote online to compare rates and options from dozens of insurance companies in less than a minute.
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.
Ask Our Experts
Leave your question below and one of our insurance agents will give you a detailed answer.