How long does it takes to the insurance company to approve or denied an application for life insurance?

There are insurance plans that can get instant approval, or situations when medical records are needed and it could take up to couple of months, depending of the Dr's office and how fast are they sending the records to the insurance company.

Usually, when you're looking for the cheapest possible insurance, then blood tests, EKG, urine samples are required, and the process will take longer. If you're looking for a fast, simple solution, the premiums will be much higher, because there is more unknown risk that the insurance company is taking.