The process of buying life insurance can be explained in a few easy steps:
1) Get your quote comparison – A life insurance quote is based on 4 main factors – your age, the amount of coverage you want to buy, how long you want that coverage guaranteed for, and the risk classification you can qualify for.
The risk classification is the most important and most critical factor when deciding what to apply for and with which carrier to apply for it with. You want to make sure the risk classification you’re running quotes at is a risk class you can actually qualify for, otherwise, any quotes you generate will not give you the most accurate representation of premiums you can expect to pay for your coverage. This is why it’s important to call us and speak to a live agent to go over the medical history to make sure of the risk class you qualify for so we can generate the most accurate quotes for the coverage.
We’re licensed with over 40 of the top rated insurance companies in the industry. So why not get them all in one place and work with experienced, knowledgeable agents who always work to make sure you’re getting the best coverage at the lowest possible cost! There is no extra cost to use an agent to purchase a life insurance policy. We do not charge any fees for our services.
2) Choose the insurance company you want to apply with – we will help you with the application to make sure the paperwork is error-free through our double-check process. Making sure the application is in good order will reduce processing time and help you get your coverage in place faster! There are many electronic applications available today with most insurers and can help you complete the paperwork via screen-sharing – it only takes about 20-30 minutes to complete an application. It’s a very fast and easy way to complete applications in today’s technological world! Paper applications are always available as well!
3) Complete the medical exam (if applicable) – if you’re applying for coverage that requires an exam, we’ll have a licensed paramedical examiner call you to set up a time to complete it at your convenience (this includes weekends). The exam typically takes about 20-40 minutes to complete and can be done just about anywhere including in the privacy of your own home if you prefer – you don’t need to go to a clinic or doctor’s office. Your lab results are completely confidential and you can get a copy of the results at no cost to you!
4) Get your risk classification approval – once the carriers’ underwriter reviews your application, exam results, doctor’s statement, and any other necessary paperwork, you will receive a risk classification offer response from the carrier. If the risk class the carrier approves you for is other than what was applied for, we will re-shop the case for you with the other carriers to determine the risk class they would each consider for your medical profile. If another carrier offers a better option, you don’t have to complete a new exam! Only some quick paperwork for the carrier to review and process!
5) Place the coverage in force and you’re all done! – once you’ve been approved for coverage, we’ll mail you your life insurance policy. Most companies will typically have a couple of pages to sign acknowledging you have received your policy and would like to place it in force. Once these pages are signed, you just drop them in the mail in the pre-paid envelope provided in the package along with the check for the initial premium and you’re all set! You can set your premiums to be billed directly to you in the mail or you may pay them via electronic banking.
What happens if I get asked to pay a higher premium than what I applied for or I get declined for coverage?
If this occurs, we can re-shop the case since we would have the full medical profile and see which other carriers can offer coverage at a lower rate than what you were approved for / offer coverage if you were declined. Even in the extreme case where you have a completely uninsurable medical condition, a guaranteed-issue whole life policy is available for most ages.