Delay in issuing term life insurance policy in April and May A combination of factors such as the time taken to obtain a medical report and tightening of guidelines by the reinsurers led to the delay The number of days taken by an insurance company to issue a term life insurance policy has gone up in April and May. A combination of factors such as the time taken to obtain a medical report and tightening of guidelines by the reinsurers led to the delay. Insurance intermediaries and aggregators said that normally it would take around 10 days on an average to get a term life insurance policy issued from the submission of a proposal form. This has gone up to around 15-16 days over the last couple of months.