Can Life Insurance be arranged quickly?

"If you need Life Insurance in a hurry, then let Moneyquest know. They'll ensure that your application is fast tracked", says Charles Challiner spokesman for Lloyds Insurance Underwriting.

Can Life Insurance be arranged quickly?

The answer depends upon whether the Insurance Company needs more information about you. Their decision will be based upon the answers on your Application form. (You'll need to complete a detailed Application form once you've accepted Moneyquest's initial quotation and you've decided you want to go ahead.)

In our experience, around one third of all applications go on risk immediately. This is a computerised decision and basically applies so long as all your answers on your Application are straight forward and you don't want a very sum insured.

All other Applications will experience a delay ranging from a week to several months. It's because the insurer has to carry out a risk assessment of your Application and this is usually done manually. This assessment can also lead to the insurer asking for more information.

Most commonly, the additional information required, relates to your medical history. This can involve the insurer asking your GP for the information or asking you to have a medical examination (which the Insurer always pays for). Until this information is received by your insurer a final decision cannot be made. Unfortunately, a common cause of delay is a slow reply from your doctor.

Another common cause of delay is where the applicant receives a request for information from the Insurance Company but they are slow to respond.

Moneyquest will monitor the progress of your application and will do everything to ensure that it progresses as quickly a possible. They will even chivvy along your GP to act quickly - but a word from you will also, help!