What is QuickDecision?

It is an automated medical underwriting process that can provide a decision in real-time based on your answers to health questions and information gathered from a database. When you apply online with QuickDecision, you can receive a decision on your insurance in minutes. This saves time relative to traditional or standard medical underwriting, which can take weeks and may require medical visits.

How does it work?

When you complete your application online, you will be asked questions about your health. Based upon your responses and data that New York Life accesses (with your permission), QuickDecision can instantly determine if you are approved for insurance. If for any reason an application cannot receive an immediate decision, it is advanced to medical underwriters for manual review to provide the fastest possible decision.

Is there a medical exam or blood test?

No medical exam is needed. QuickDecision uses data sources to verify your health history, so there are no medical visits or lab tests needed to get your real-time decision. In some cases, the insurance company may need to contact you to ask additional questions.

Will I need to visit a doctor?

Generally, no. Most QuickDecision application decisions are provided without the need for follow up. Sometimes additional information may be necessary, and you will be contacted accordingly.

What type of information do you get about me online?

You will answer questions about your medical history. With your permission, sources such as Medical Information Bureau and prescription drug databases are accessed to confirm some information about you. This can include validation of medical history, any driving infractions, and medications. New York Life does not retain any of this information. Rather, this information is queried, verified, and then released, typically while you are still finishing the last few steps of your application.

What data is collected?

You will provide information such as your age, gender, height, weight, and health history, as well as your social security number and contact information to verify data (as described above). You will be asked to grant permission to New York Life to access secure databases to verify your health history. All data is managed with diligent security protocols, and nothing is shared for any purpose other than to provide you a decision about your insurance application.

How long does the process take?

With QuickDecision, most applicants complete their application and receive their decision in under 30 minutes.

Who is eligible?

QuickDecision is for applicants under age 50 in all states except AK, MT, NY, OR, SD, UT, VA, VT, and WA who request less than $500,000 of coverage. The availability of QuickDecision is indicated when you apply.

Can I apply for more coverage than the QuickDecision limits?

Yes! While the QuickDecision process does have coverage amount limits, you can apply for up to $750,000. Coverage amounts requested over the QuickDecision limit will be subject to standard medical underwriting.

When will I find out if my insurance application is approved?

At the end of the QuickDecision application process, a decision about your application will be displayed. If conditionally approved, we will verify your eligibility, and if fully approved we will process your initial payment and issue coverage. You will then receive a certificate with full coverage details. Some people may not receive immediate approval and will require a medical underwriter to review the application, which typically takes less than seven business days.

What if I am declined?

If your QuickDecision application is declined by a medical underwriter, you may contact us to request full medical underwriting, which may require additional medical information including labs and medical records.

What if QuickDecision is not approved in my state or I don’t apply online?

Certain states (MT, NY, UT and VA) are not approved to gather your health history online, and some applicants prefer to submit a paper application. When this happens, New York Life may process your application with an Expedited Underwriting process if you are under age 50 and the coverage amount requested is under $500,000. Expedited underwriting decisions can be available in 5-10 business days.

Why do you need information about my medical and driving history?

Insurance companies review medical and other information about the person being insured to determine if the risk can be accepted. Through this process, they gather and compare information about you against a broad group of people like you. The better your history, the better the rates you could be offered for insurance. Your medical history includes any factors which may put your health – and life – at risk. This can include a history of disease, habits, behaviors, and recreation. Sometimes a driving history, including reckless behavior, can be just as important as suffering a serious illness.