President, Newbury Inc., Evansville, Indiana. With simplified issue life insurance you get your approval right when you do the application with many companies. This is the type of whole-life insurance that many seniors over age 50 purchase on amounts of $25,000 or less.o one to two months would be average for fully-underwritten life insurance. And for simplified issue it could be right within the meeting with your insurance agent. The more extensive underwriting will usually get you a better rate per thousand if you are healthy and buying more than $25,000 of coverage.