How To Purchase Term Life Insurance On Your Own, Without An Agent | DIY Term Life Insurance The Right Way

Updated: April 12, 2024 at 9:39 am

DIY term life insuranceWe know the feeling…you need life insurance, but the thought of going through an insurance agent is worse than getting a tooth pulled. Or, it is worse than a migraine. (Hey, that is what one person told us!) We at My Family Life Insurance understand. You can purchase term life insurance on your own. Even in your bunny slippers while drinking coffee. We call it DIY term life insurance.

However, there is a process of purchasing term life insurance on your own without an agent. Honestly, the DIY term life insurance process won’t work for everyone. It will work for some, but not all.

In this article, we discuss:

Let’s talk about why DIY term life insurance.

Why DIY Term Life Insurance

We know you are all busy. We also know nearly everyone needs, or needs additional, term life insurance.

If you can get a crockpot, delivered the next day, why can’t term life insurance be any different?

You are all smart and intelligent. If you can change a light bulb in a lamp, you should, and can, apply for term life insurance on your own. We have been a proponent of it since day 1. But…

…we need to warn you; selecting life insurance is a BIG deal. This is an important decision. Frankly, you do want to speak to a professional and knowledgeable insurance agent, one who has your best interests first, foremost, and at all times.

These good agents who put you and your family first and foremost do exist. We at My Family Life Insurance consider ourselves in that camp. We don’t have a “dog in the fight” as they say, only that we ensure you purchase the life insurance plan that fits your needs. (Not to befuddle you with industry jargon, but we have a fiduciary duty in financial planning engagements and must place your interests first at ALL times. Seriously. Many insurance agents can’t state that.)

Nevertheless, many people want to purchase life insurance on their own. They don’t want phone calls or barrage of emails and text messages from agents.

In the next sections, we show how you can purchase DIY term life insurance on your own. As always, if you need our help, we are a phone call or email away.

The Requirements For DIY Term Life Insurance Application

There are a few requirements you need to meet in order to apply for the DIY term life insurance. You:

• need to have a non-smoker standard (i.e. good) health rating or better. If you have high blood pressure or high cholesterol, those conditions can usually go through without a hitch as long as you are under treatment and controlled. However, cancer, smoking, obesity, diabetes, or any other moderate to severe condition warrants a phone call from us. (So we can truly match the right carrier to your situation.)

• have to be honest in your application. Withholding important information will only delay your application, and you will have to then speak to us.

• must have a logical reason for the death benefit. That means, if you make $10,000 annually, a $1,000,000 insurance policy will come across as foolish. Your application will simply be declined.  We recommend using our easy life insurance worksheet to gauge how much life insurance you need. Print it, then fill it out, and then keep it in a safe spot in case someone asks for it.

• simply want term life and not any additional value-added benefits such as a conversion feature without evidence of insurability, critical illness, long-term care/custodial care services. These are important features to consider. If you don’t feel you need these additional benefits, then you can probably just use DIY term life insurance.

• agree that you operated without the professional consultation of an insurance agent, i.e. we at My Family Life Insurance. We can and will give you unbiased life insurance advice and information as we work only with your interests first. As we mentioned, we feel it is important that you speak to us.

The DIY Term Life Insurance Application Process

Like everything we try to do here at My Family Life Insurance, we made the DIY Term Life Insurance application process simple.

You have a couple of options. Here is the first option:

(1) click on the link here and fill out some basic information about yourself. A new screen will open up so you can follow along

(2) then, you’ll input some additional details such as the death benefit amount, your beneficiary, if you already have life insurance (and how much)

(3) after that, you’ll answer some basic underwriting questions including, but not limited to, hypertension, cholesterol, diabetes, etc. You will also answer some lifestyle questions, too. Please answer truthfully

(4) You will then be able to compare and select a carrier

(5) On the last screen, you’ll see a summary of the death benefit coverage, carrier, and term. You will also need to fill out some additional information like “the best time to reach you” and if you want temporary coverage by paying the first month’s premium now. Click on “Send My Request” at the bottom of the screen to send your application

(6) The application goes to us for review. If it all looks good, then we send it to our support team to process. No questions asked or phone calls from us unless something does not look right. The support team will contact you regarding the paramedical exam scheduling and any other carrier questions. If the application looks good, you won’t hear from us

All told, the process takes about 20 minutes. You can apply having a cup of coffee in your slippers.

However, as we mentioned, we feel you should speak with us first or during the application process.

The Second Option – Apply Directly With A Carrier

If you are in typical health with no serious health conditions, you can apply with a carrier directly, through one of their partnerships. That is Bestow life insurance, which is underwritten by North American Life Insurance. North American is an A-rated carrier.

If you apply for term life insurance through our Bestow partner link, you can get approved in minutes.

Like we outlined above, you can’t have moderate to serious health conditions. We wrote about those conditions and the Bestow life insurance process in a separate article. (Related: see Get Term Life Insurance Fast Through Bestow!)

If you have any questions before applying, please contact us. We are happy to answer any questions and walk through the process.

So, You Have A Couple Of Options For DIY Term Life Insurance

So, you have a couple of options to apply for DIY term life insurance. You can apply through our agency link and select the carrier you want. If all looks good, the insurance will go to the carrier, and we will follow up with you with next steps.

Or, you can apply directly with Bestow through our partner link. It’s important to note approval happens rather quickly. Moreover, Bestow offers some of the lowest rates in the instant-approval term life insurance space.

Finally, there is one more carrier we use for DIY term life insurance. It is through Manhattan Life. They are rather limited on death benefits and will be more expensive. The reason why is they already factor moderate health conditions into their premiums. Feel free to search rates on our partner link with Manhattan Life. You can truly apply on your own without the aid of an agent.

You Can Also…

Apply for ROP term life insurance as well as Guaranteed Universal Life Insurance.

So, if you desire to receive your premiums back after the term ends, then ROP term life insurance is a good choice. If you desire to have nearly lifetime coverage without the whole life/lifetime cost, then guaranteed universal life insurance makes sense.

Now You Know You Can Purchase Term Life Insurance On Your Own, DIY!

If you want DIY term life insurance, then we have the process in place. If filled out correctly, and you have answered the application honestly, you won’t hear from us. However, we feel you should contact us as you go through the application. Professional advice is priceless. We can discuss any important considerations and review if the proposed death benefit makes sense. Remember, our easy life insurance worksheet is here to help.

Here is the DIY term life insurance “apply here” link again.

You can also apply through our partner link for term life insurance with Bestow. If you meet their parameters, you’ll be approved in minutes.

And, we are here to help, too. Feel free to contact us anytime or use the form below.

Learn More

Are you interested in learning more about the information in this article? Please fill out the form below, and we will email you additional information or give you a call. We always work in your best interest. By entering your information, you are providing your express consent that My Family Life Insurance may contact you via e-mails, SMS, phone calls, or prerecorded messages at any phone number(s) that you provide, even if the number is a wireless number or on any federal or state do-not-call list. Additionally, you understand that calls may be placed using automated technology, and that consent is not a requirement for purchase. Your information will NOT be sold and will remain private. However, you may opt out at any time. We respect your privacy first and foremost. By contacting us, you agree to receive text messages from our number (800) 645-9841. If you no longer wish to receive text messages, you may opt out at any time by replying "STOP".

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I am a CFP® Professional and have an MBA. I founded My Family Life Insurance to provide honest, trustworthy advice and economical insurance solutions to individuals, families, and business owners. Contact me if you have any questions. There is no risk! If I can't help you, you've learned a little more, and we'll part as friends. Seriously! Can your current agent say this? View my linked-in profile here:


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