You’ve taken an important step in life by deciding to go through the life insurance application process. While it’s not difficult, it may take some time and involve several steps. Here’s what you need to know. In most cases when you buy an individual life insurance policy, the insurer will go through what the industry calls, the fully underwritten process. Think of this as a thorough evaluation.
When you first meet with your agent, he’ll ask you a number of general health questions to start the application process. To give the insurance company a more complete picture of your lifestyle and health, a follow-up health screening is next. It’s nothing to worry about, but it’s good to be prepared. Here’s what you can expect.
This is an assessment conducted by a licensed medical professional and should take less than half an hour. Usually, this can take place when and where you choose, including your home or office. The paramedical professional takes a blood pressure reading, notes your height and weight and generally collects a blood and sometimes a urine sample. If the insurance company thinks it’s necessary, based on the information you provided, it may request an ECG or EKG reading.
Of course you’ll want the best possible results for your exam, so here are some tips.
And the best advice of all: Relax! Keep in mind that you can contact your insurance agent or the insurance company at any point if you have questions about the application and underwriting process.
Once any additional screenings are complete, the underwriting department of the insurance company will review your full application and you will be notified when a decision has been made. If coverage is approved, your policy will be delivered to you. At that point, you can review it and if you have any questions about your new policy, be sure to ask!
And the final step? A hearty congratulations on helping to protect your family’s future. Start the process today with a personal quote.
The most common types of life insurance are term and permanent. Find out the differences and what type best fits your needs.
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