When you apply for life insurance, it can take up to six weeks (and sometimes longer) from the time you apply to the time your policy becomes active. To guarantee financial support for your loved ones during this waiting period, ask your life insurance provider about temporary life insurance.
Temporary life insurance — sometimes referred to as a temporary insurance agreement (TIA) — is a type of short term life insurance offered only during the life insurance application process. If you die before your final application is approved, the temporary policy pays out to your beneficiaries.
Temporary coverage is only available while you wait for your final policy to go in force and if you want it, you must purchase it at the time of your initial application.
How does temporary life insurance work?
Temporary life insurance provides coverage before your term life or permanent life policy becomes active. When applying for temporary life insurance coverage, you’ll be asked questions about your physical health, just as you are for coverage under the base policy.
The death benefit of a temporary policy is typically equal to the amount of coverage for which you’ve applied, up to a limit (usually $1 million). Your temporary life insurance coverage begins after you sign your application and receive your temporary insurance receipt.
Temporary life insurance coverage ends after one of the following occurs:
A certain number of days passes after the application is filed, usually 60-90 days.
After you request a refund for the premium or terminate your proposed coverage.
You are declined for coverage.
Your policy goes in force.
If you die by suicide during the temporary life insurance period, your beneficiaries likely will not receive the death benefit. The same is also true if you misrepresent your health and die due to a condition that would’ve otherwise made you ineligible for temporary life insurance coverage.
→ Learn more about the differences between term lie and permanent life insurance
Why buy temporary life insurance?
If you don’t currently have life insurance and die before your policy’s effective date, your loved ones won’t receive any financial support. Temporary life insurance protects your family during that coverage gap, which is a time when you don’t have a life insurance to cover your needs.
Technically you have a coverage gap from the moment you need life insurance until your policy is active, but getting temporary coverage can shorten the coverage gap before your policy is in place.
However, if you need your actual policy to go into effect as soon as possible, you should consider no-exam life insurance or instant decision life insurance, which speeds up the application process by skipping a medical exam.
Work with an independent insurance agent to find the best type of life insurance for your situation.
→ Learn more about the differences between term lie and whole life insurance
How much does temporary life insurance cost?
Your temporary life insurance premium is based on an initial quote from the insurance company, which will likely, but not necessarily reflect the premiums for your final policy.
Your official premiums are determined during underwriting and can be higher or lower than your original quote.
If the underwriter finds new information that would impact how they measure your risk, you final premium could change. Once your provider sets your actual premiums, the payment you made for temporary life insurance will be credited toward the first month’s premium for your actual policy.
→ Learn more about the life insurance underwriting process
How each insurer treats temporary coverage
Each insurer treats temporary coverage differently and offers a different amount of coverage. Check out the table below to get an idea of how much temporary coverage you could get from the top life insurance companies.
Life insurance company | Temporary policy |
|---|---|
Up to $1,000,000 in coverage | |
Up to $500,000 in coverage | |
Up to $1,000,000 in coverage | |
Not available | |
Up to $500,000 in coverage | |
Up to $1,000,000 in coverage | |
Up to $1,000,000 in coverage | |
Up to $1,000,000 in coverage | |
Up to $1,000,000 in coverage | |
Up to $250,000 in coverage | |
Up to $1,000,000 in coverage |
Methodology: Based on carrier guidelines provided by 11 life insurance carriers that offer policies through the Policygenius marketplace (Legal & General America, Brighthouse, Corebridge Financial, Foresters Financial, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica). Some restrictions may apply based on your age, location, health, and the amount of coverage.
Temporary life insurance and the medical exam
Most life insurance companies require the completion of the medical exam for temporary coverage to go in force, but Policygenius works with four life insurance companies that offer this supplementary coverage without a medical exam:
Legal & General America, which also does business as Banner Life and William Penn
To activate temporary coverage with these insurers, you’ll simply need to provide your payment information and sign the application for the broker.
Is temporary life insurance worth it?
You’re buying life insurance for a reason — to protect the income you supply for your dependents. A temporary life insurance policy ensures that your loved ones can still get a death benefit even if you die before completing the life insurance application process.
More term life insurance options
Frequently asked questions
What is temporary life insurance?
Temporary life insurance is short term life insurance. It pays out to your beneficiaries if you pass away between the time that you apply for life insurance and when your final policy becomes active.
Should I get temporary life insurance?
If you want to ensure your loved ones are covered while you wait for your life insurance offer, a temporary policy is a good option.
How much does temporary life insurance cost?
Your temporary life insurance premium is based on the initial quote you receive when you apply for life insurance, though your final premiums may be somewhat higher or lower after underwriting.
