What to Expect When You Apply for Life Insurance
By having a set of helpful hints you will know what to expect during the application for life insurance life cycle. Taking a moment to go over the following steps before applying for life insurance coverage can help make you feel at ease.
When you apply for life insurance, you answer questions that will help determine your eligibility and, how much it will cost. The questions help evaluate you application for life insurance.
What information will you need from me when applying for life insurance?
The information you need to have for your life insurance interview are:
•Your Income and Employment Information,
•Any medication you are taking, medical history, doctor information,
•Information on any other life insurance coverage that you currently own, and
•Applying for life insurance doesn’t have to be a difficult process.
The life insurance application process
Now that you know what to expect and the information you need to have ready, the rest of the application process is quite simple. You start by getting a quote and speaking with an agent to help make sure you are getting the best life insurance policy for your needs.
Steps to getting the best life insurance policy
View Quote- request a life insurance quote from us. You request an online life insurance quote or over the phone in just a few minutes.
Questions- Take a few extra minutes to ensure you are getting the most accurate quote. By going over some key factors such as your medical history, age, height and weight and other consideration that could affect your quote, we can recommend a life insurance policy to satisfy your needs.
Exam- Depending on the insurance plan selected a medical exam may be needed. The exam is free, takes about 20 minutes and is typically similar to a doctor’s office visit with some health questions, labs, vitals and measurements. You can also request a copy of your lab results.
Underwriting Review- Insurance companies each have their own procedures called underwriting that they use to assess your insurance risk and the pricing of your policy. Underwriting time varies based upon several factors and could take a few weeks. This all depends on when the exam is completed; if there are medical records that need to be obtained from your doctor, and if any additional forms/questionnaires are being requested by the underwriter.
What could affect your life insurance premium? theres
Insurance companies typically use a combination of factors to determine your life insurance premium. They include your answers to a series of question such as:
•Your health history and often family history- parents and siblings
•Your build such as height and weight
•Smoking or tobacco use
•Alcohol use such as excessive drinking
•Certain hobbies such as race car driving, hand gliding, and piloting a plane
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