Life insurance applications have questions about health, special interests, relatives’ medical history and finances. The first three determine how much you’ll pay for coverage; financial data helps determine if the amount of insurance you want is justified by your financial situation. It’s important to be truthful when you complete the application. Your signature declares that you told the truth and the company will compare your answers with the information it gathers.
Most insurance companies’ applications can be completed in a 20-30 minute phone call. You will then be able to review and e-sign the application online.
You may be scheduled for a brief exam by a paramedical professional. The paramed may record your height and weight, and even take blood and urine samples, depending upon the type and amount of insurance you’ve applied for. There is no charge for the medical exam, which can be completed in your home or workplace.
Premium payment is not required with your application. However, you may be given the option of submitting payment with your application in order to get temporary coverage during the underwriting period. Each insurance company has their own guidelines concerning temporary coverage, so please read the instructions carefully in your application packet. If you do choose to submit premium with your application, please follow these guidelines:
Upon receipt of your application, we will review it to make sure all required fields have been completed. If additional information is needed, your assigned case manager will contact you to complete the application with you. Once completed, we will forward your application and medical exam report to the insurance company for underwriting,
Next: The Medical Exam