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Determine life insurance coverage needs. The amount of coverage depends on multiple factors including age of dependents, spouse’s earning ability, debt, final taxes and expenses.
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Apply for life insurance. The application for life insurance will ask for personal information including height, weight, date of birth, lifestyle, financial information. There are applications that ask for a medical exam and applications that are simplified issue where no medical exam is required- these are typically more expensive and have a lower death benefit than insurance that requires a medical exam.
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Life Insurance Medical Exam. We will arrange for a paramedical to meet you at your home, office or a clinic. During this exam, the paramedical will ask about your medical history, immediate family medical history, take your blood pressure, listen to your heartbeat, check your height/weight, draw a blood sample and get a urine sample.
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Underwriting. When the insurance company receives your application, an underwriter will review the medical, financial and lifestyle information submitted and will assess the risk of issuing a policy.
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Policy Issued. When the policy is issued, we will schedule a meeting with you to review the policy document and ensure the coverage applied and approved for meets your needs. If premiums are due, this will need to be paid to the insurance company. You have 10 days after signing the delivery receipt to change your mind and not accept your policy. If you change your mind after the 10 days, there could be a surrender charge depending on the policy and these charges can be significant.
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Policy Service. Once your insurance policy is purchased. Please make sure you store your insurance policy in a safe place and inform us if you need to change banking, beneficiary, address or coverage.
