What should I expect from the life insurance underwriting process? It depends. The length of the underwriting process is dependent upon your age, your health, your lifestyle, your frequency of doctor visits, and the amount of life insurance coverage being applied for. On average most people that apply for life insurance receive a life insurance offer in 3 – 6 weeks. (Hyperlink for quotes)
National Group Life Online Instant Issue Life Insurance: The underwriting process uses a short questionnaire to determine an accurate rate for your life insurance. The life insurance policy is then issued immediately. (Hyperlink for quotes)
The number one reason for applications being denied in the underwriting process is the failure of applicants to answer all questions on the life insurance application honestly.
1. The first step you should take to becoming insured is to figure out your death benefit coverage, in order to ensure that your loved ones are properly covered. A good place to start, if you are unsure of how much coverage is needed, is our rule of thumb calculator. For a more specific and personal evaluation, call one of our select advisors.
2. Next the type of insurance that is needed should be determined, whether it is term life insurance or whole life insurance. Term vs. Whole Life Insurance can help guide you in the right direction, but for a more specific and personal evaluation, call one of our select advisors.
3. After determining the amount of death benefit needed and the right type of coverage for you, the next step is getting a free anonymous quote from our website.
4. Once you find a quote that you are satisfied with, you must become approved by the life insurance carrier. This is done by filling out the application that follows after getting quoted.
5. Once your application is submitted to the life insurance carrier, it will be reviewed and underwritten. This means reviewing your application and your health history. Your advisor will keep you updated through this process.
6. Once you are accepted by the life insurance carrier, our select advisors will contact you and deliver your life insurance policy.
(214) 766-8500 2273 E Continental Blvd Suite 120. Southlake, TX 76092