Compare Quotes – you want to make sure to compare rates with all the companies to ensure you get the best rate. The easiest and most efficient way to do this is to work with an independent agency that works with all the companies on the market(that’s us). This doesn’t cost you a dime but can save you a ton of time.
The Application – next is to apply with the company through a short application process, this usually takes 10 to 20 minutes. It will include some basic information, health questions, and beneficiary information.
The Medical Exam – this will be scheduled while you’re applying at your convenience. A nurse will come out to your home free of charge, at a place and time of your choosing. The nurse will check your blood pressure, weigh you, take a blood and urine sample and ask you some basic questions. This shouldn’t take more than a half an hour.
Underwriting – the longest portion of the application is the underwriting. The good news is, it doesn’t require any action on your end. This is the part of the process where the life insurance company will review your application, access your medical and personal history to asses your risk and assign you a health/rate class. In layman terms that means figure out if you qualify and at what cost. This can take 3 to 6 weeks to accomplish unless you opt for a no exam life insurance policy.
The Decision – once the underwriting is complete the company will come back to you with a decision. You will either get the rate you applied for or it will come back “other than applied.” This means that you got a better, or worse rate than what your agent qualified you for. This will depend on factors like your health, lifestyle, and history.
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