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The Life Insurance Policy & Application

This section looks at the life insurance policy document and the application process that you'll go through to get a policy.

If you want to make sure that you get the best coverage for your money, take some time to familiarize yourself with this subject.


This section:

Describes the application process for a new life policy.

Explains the importance of policy riders, clauses, and exclusions.

Walks you through the life insurance medical exam, which you may be required to undergo before obtaining a new policy.


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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.

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The Application Process

First up, let's look at the application itself, the form that you'll be filling out when applying for your life insurance policy.

Different insurers use different questions to begin judging the risk they'll be taking by insuring you, but some general rules always apply. Take a look.

Riders, clauses, and exclusions

Policy riders are "documents" that are often attached to a policy which modify that policy somewhat from what is normally offered by the company.

Clauses and exclusions are stipulations which are used by insurance companies to clearly states certain right that you might have, as well as rights that the insurance company itself has the ability to invoke.

We explain how to distinguish between the clauses in the policy that are there to protect YOU, and those that protect the insurer.

The Medical Exam

This may be real biggie, if your insurer requires it.

In order to insure your life, the insurance company will want to know how long you're going to be around. This may be a crude and rude way of putting it, but that's what the medical exam is for.

Some answers to questions on your application must be verified by a doctor (for example: are you a smoker?) It's hard to hide that from a medical professional).


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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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