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A Look At The Life Insurance Application Process

Getting a life insurance quote is one thing; completing the application process and choosing a policy is quite another. We'll help guide you through this, possibly the most difficult part of the "getting insurance" process.

This page:

Outlines the life insurance application process

Gives advice on how to best evaluate your policy options

Life Insurance for as Little as $15/Month?

Premiums can vary by as much as 50% for the same coverage and options, so it pays to get quotes from as many reputable insurers as possible.

With our partner USAA, you can find the ideal combination of premium price and top-notch service that you'd expect from a top-rated carrier.

USAA, normally only offers most of its services to military members, veterans, and their families, however, life insurance is the exception. Now, anyone can get the great pricing and customer service for which the company is known and loved for by their customers.

Click here to get your fast free quote

Buying life insurance isn't a simple purchase, like a gallon of milk (or a six-pack). But if you're well-prepared, making sense of the fine print and evaluating your options should be a breeze.

In this section, we have advice for you wherever you are in the process.

If you're still shopping quotes...

Good for you! Comparison shopping is the single easiest way to snag lower premiums on a life insurance policy. You need to shop around.

Get as many quotes as you can. Pretty soon, you'll start recognizing the same names of insurers on your quote screen, over and over, and they will all start to "blend into one". But they are not all the same!

There is an "art" to distinguishing between the "good deal" and the "too good to be true" deal on a policy (especially where it comes to term life insurance). Be careful, shop by price, but keep in mind all the things that make up the policy, ot just the monthly premium.

After you've narrowed down your policy options...

It's time to compare the coverage and prices of each. Select the policy (there can be more than one!) that fits you best and request an application.

Remember - requesting an application is NOT an agreement to purchase the policy. So if you have trouble deciding between two or three policies, ask for all of them to be sent. You can then compare the terms and condition of each policy more carefully.

Policy applications include basically the same info you see on the quote application, only in more detail. You'll also likely be expected to complete a medical exam so the insurer can check the accuracy of your information. Learn more about the medical exam here.

Once you've been offered a policy...

It's time to take a good look at the fine print. Most policies carry an array of clauses and exclusions that can either better protect consumers or limit the insurer's responsibility. Learn about both types, which ones to ask for and which to avoid in our guide to clauses and exclusions.

If you have a special circumstance or needs, you may want to consider increasing the scope of your coverage with the inclusion of a policy rider.


A word to the wise

No matter how tempting it may be, do not provide any false information on your life insurance application. If the insurance company discovers any distortion of the truth, (for example, if you lie about your health status, or any risky sports that you participate in), your policy can be canceled and your premiums will not be reimbursed.

To see how much a term life policy would cost you, get a fast free quote from one of our partner carriers, who will match your with the best term life policy available in your state.

If you'd like a little help with designing a policy or if you are more interested in whole life insurance, get in touch with an agent from one of our partner carriers, who can design a policy to fit your specific needs.

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