If you’re looking for an instant life insurance decision but don’t want to take a medical exam, Encova Real-Time Term is a great option for you. You can apply online and get an underwriting decision in just a few minutes. Plus, the company has been in business for 90 years, and has a long history of strength and stability behind it.
So what makes the Real-Time Term policy special? Let’s find out.
Summary
You don’t have to take a medical exam to apply for Real-Time Term. This is ideal if you have a health issue, don’t like needles, or just don’t have time to complete a medical exam. If you need up to $500,000 of coverage fast, this is a good choice.
Issue Ages
- 5-Year Term: Ages 16-70
- 10–Year Term: Ages 16-70
- 20–Year Term: Ages 16-65
- 30–Year Term: Ages 16 – 50
Minimum Coverage Amount
$25,000
Maximum Coverage Amount
$500,000
Optional Policy Riders
There are no optional policy riders available. Real-Time Term is designed to be a simple term life policy you can apply for and get an underwriting decision on in 20 minutes.
Additional Policy Features
Every policy includes a free accelerated death benefit rider. This means that if you're diagnosed with a qualifying terminal illness, your policy will pay out an early benefit. You can then use that cash to pay for treatment, modifications to your home, in-home health aides, or any other expenses that come up.
Conversion Option
This coverage can be converted into permanent life insurance but must be done so prior to the end of the level term contract or before age 70, whichever comes first.
Renewability
After your term expires, you can renew your policy on a yearly basis up to age 95.
Cost: Sample Rates
Keep in mind these sample rates are for a healthy individual who does not use tobacco. The rates shown below were gathered in July 2018, but all rates are subject to change as well as underwriting approval.
Non-smoking man, applying for a 20-year term
| AGE | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
|---|---|---|---|---|---|
| 30 | $9 | $12 | $19 | $38 | $70 |
| 40 | $11 | $16 | $27 | $59 | $112 |
| 45 | $14 | $21 | $37 | $84 | $163 |
| 50 | $21 | $45 | $67 | $158 | $311 |
| 55 | $30 | $55 | $105 | $254 | $501 |
| 60 | $47 | $89 | $172 | $421 | $836 |
| 65 | $73 | $140 | $274 | $677 | $1349 |
Non-smoking woman, applying for a 20-year term
| AGE | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
|---|---|---|---|---|---|
| 30 | $9 | $11 | $17 | $35 | $64 |
| 40 | $9 | $13 | $20 | $43 | $80 |
| 45 | $12 | $18 | $30 | $65 | $125 |
| 50 | $17 | $28 | $51 | $119 | $233 |
| 55 | $22 | $39 | $73 | $174 | $341 |
| 60 | $33 | $61 | $115 | $280 | $554 |
| 65 | $50 | $95 | $184 | $450 | $895 |
Company History
Encova Life (formerly Motorists Life) is an A- (Excellent) rated insurance provider founded in 1928. Founder Carl Crispin created a company called Motorists Mutual in Columbus, Ohio when he saw the need for affordable automobile insurance. In 1965, Motorists Mutual founded the Motorists Life Insurance Company. This company now offers life insurance through 14,000 independent agents in 16 different states. As of August 2018, those states are Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, and Wisconsin. The company currently has $6 billion of life insurance in force.
Ready to get started?"
Apply online right now! Use the quoter on this page to get covered today.