Here is a step-by-step explanation of how the life insurance application process works:
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Choose your preferred life insurance company and complete and submit our secure online life insurance preliminary application. Upon submission, this is immediately received by a licensed insurance agent and your information will be transferred to the requested company-specific application. You will then be given directions on how to “sign” your application (which will be by voice, hand, or electronically, depending on the insurance company). Remember, submitting an application does not obligate you to buy insurance; it simply allows a company to provide you with an offer of insurance that you are free to accept or reject!
You will receive a phone call from a medical exam company to ask a few more questions to complete your application file, and to set up a time with you for a “mini-physical” exam (at no cost to you, and at your convenience in your own home or place of employment). Think of this as a complimentary medical check-up! For more information about what this exam consists of, and how to prepare for it, click here.
After your “mini-physical” exam (usually within 3-4 weeks) you will receive a “policy offer” back from the insurance company. This you can choose to accept or reject, or even modify. If you accept it, your policy will be delivered to you by your insurance agent. [If your health history requires a review of your medical records, these will be ordered directly from your doctor(s) and can take an additional 30 days to receive and process].
After receiving your policy, you will need to sign and return the “policy delivery requirements” (affirming that you have accepted and received it) along with your first premium payment (by credit card, check, or bank draft). Upon receipt of your first premium payment you will be insured and your loved ones financially protected!