We understand getting a life insurance policy can seem overwhelming for you. We have simplified the process for you below.
The life insurance application usually takes four to eight weeks from start to finish, but you can complete the process in just five steps.
Here’s how to get a life insurance policy in 5 simple steps:
Step 1: Get free quotes. Comparing rates from different insurance companies allows you to make sure you’re getting the most affordable policy.
Step 2: Fill out an application. You can fill out your application online or call a licensed professional to get help. Either way, you’ll need to answer some basic income, health and lifestyle questions.
Step 3: Take a medical exam. As part of the underwriting process, you may need to take a medical exam that’s similar to a basic physical. The exam is free, and a technician will come to your home or workplace on your schedule.
Step 4: Receive an offer. The life insurance company will make an offer after reviewing your complete application.
Step 5: Accept the offer. Your coverage is active once you pay your 1st premium. It’s that simple.
A few things other things you need to know about getting a life insurance policy:
The cost of life insurance depends on how much coverage you need and how much risk you pose.
Healthier people pay less for life insurance and so do people who live a less risky or dangerous lifestyle.
State governments regulate life insurance premiums. According to each insurer’s actuarial tables, someone with your same characteristics and health history will likely be quoted similar if not the very same rates as you.