For example, a term life insurance policy may have more lenient guidelines for approval than a permanent life insurance policy because far fewer term life policies pay out a death benefit since many people outlive the term of their policy, while permanent life insurance guarantees a death benefit to be paid out as long as you pay your premiums.
Also, a smaller life insurance policy of $10,000 will have less strict guidelines for qualification because the exposure of loss to the insurance company is much lower than if they were to insure someone for $1,000,000 of life insurance protection.
Smaller amounts of life insurance may only require you to answer some health questions; whereas, a larger amount of life insurance may require the applicant to take a physical examination and blood or urine test.
Some life insurance plans with no exam allow you to apply online and start your life insurance coverage the same day, if you qualify.
Wile larger life insurance plans may take several weeks for you to go through the entire application and exam process to determine if you qualify to buy the life insurance policy.