When Does Life Insurance Policies Go Into Effect? 
If a life insurance policy is medically underwritten , it will go into effect after the policy is approved and issued and delivery requirements are received . If it is a No Exam policy , the policy can go into effect as soon as the policy is approved , which could be as short as hours after applying . You must be sure to have enough money in your checking account to be drafted as soon as a No Exam policy is approved . 