3 Best Instant Life Insurance Companies in February 2025
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The best instant life insurance companies at a glance
Lemonade: Best overall.
Lincoln Financial: Best for policy add-ons.
Erie: Best for instant whole life.
Until recently, it could take several weeks to get life insurance coverage. While that’s still true for traditional policies, a string of insurers now offer instant life insurance. Sometimes known as “fast life insurance,” these are policies you can apply for online and often get a decision on within minutes.
To create this list, our experts analyzed insurers who sell life insurance online and offer at least $100,000 in coverage. We then assessed policy features, age eligibility and available riders, as well as the amount of coverage you can buy without taking a medical exam.
Why trust NerdWallet
The best online life insurance companies of February 2025
Instant coverage amount: Starting at $100,000. | ||
Instant coverage amount: $100,000 to $2.5 million. | ||
Instant coverage amount: $10,000 to $500,000. | ||
NerdWallet rates insurers at the company level, not the policy level. This means our star rating reflects the company as a whole, and not its instant life insurance policy specifically. | ||
Best instant life insurance companies: Pros and cons
Lemonade
Financial strength rating
Online purchase
NAIC complaints
Policies offered
Lemonade
Financial strength rating
Online purchase
NAIC complaints
Policies offered
Wide range of term lengths available.
Policies can be issued within minutes.
Qualifying applicants can get millions in coverage online.
Policies aren’t available nationwide.
Coverage can’t be converted to permanent life insurance.
Overview: Lemonade offers term life insurance lasting 10, 15, 20, 25, 30, 35 or 40 years in all states except New York. To apply for coverage, you’ll fill out a sleek online application and answer a few basic questions about your health and lifestyle. If you’re approved, your policy may be issued within minutes. Eligible applicants can get coverage starting at $100,000 and going into the millions without a medical exam, and easily manage their policy via Lemonade’s user-friendly app.
The insurer is backed by Legal & General, a longstanding and financially strong insurer with a track record for low complaints.
» Read the full review: Lemonade life insurance review
Drew fewer complaints to state regulators than expected for a company of its size.
Offers hybrid policies with life and long-term care coverage.
Applicants must work with a financial advisor.
Overview: With Lincoln Financial, you can apply for a no-exam policy online or over the phone. Policyholders can upgrade to permanent coverage before their term policy expires or when they reach their 70th birthday, whichever comes first. The policy is guaranteed renewable up to age 95.
The insurer offers a child term rider that can cover multiple children. You can also choose to add a waiver of premium rider or accelerated death benefit rider to your coverage for an additional fee.
» Read the full review: Lincoln Financial life insurance review
Low customer complaints.
Offers a variety of term and whole life options.
Not available in most states.
Overview: Erie’s instant life insurance policy is one of the most flexible on the market. If you qualify, the coverage can go into effect the same day you apply. Otherwise, you may need to take a medical exam. You can buy small amounts of coverage, starting at $10,000. An accelerated death benefit rider is automatically included at no extra charge.
» Read the full review: Erie auto, homeowners and life insurance review
How we ranked the top life insurers
NerdWallet’s life insurance ratings are determined by our editorial team. Star ratings are based on consumer experience, weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims, and complaint index scores from the National Association of Insurance Commissioners for individual life insurance. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare life insurance quotes from several companies to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Alternatives to the best instant life insurance
If you’re not in a time crunch, consider applying for a traditional life insurance policy. You’ll most likely need to take a medical exam, but if you’re relatively healthy, you could end up paying less for your policy.
Term life insurance lasts a set number of years, while permanent life insurance offers lifelong coverage and builds cash value over time.
More about top-rated life insurance companies
Looking for a different type of life insurance policy? Check out NerdWallet’s top picks across these categories:
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
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