How Does The Process Of Life Insurance Work
1. Compare various life insurance quotes and make a decision by cost
, insurance carrier rating, customer service, and who best meets your specific goals.2. Select an insurance company and apply. An insurance agent will assist you in completing and processing the insurance application you chose. (Effective date of policies can be when initial payment to carrier is made during application process as long as you insurance application are approved by the insurance carrier and accept by you, the consumer, at the end of the process.)
3. Complete a brief medical exam. An insurance representative will schedule a medical exam by a mobile medical assistant at your home or office.
4. Application processed and underwritten. Your application is processed by your agent and then underwritten by the insurance company you chose to verify policy and rating classification. Determination is made whether to issue policy.
5. Policy issued. If approved by insurance carrier and accepted by consumer a life policy is issued and then payment is made by your option either monthly, quarterly, semi annually, or annually to the insurance carrier. Policies can be returned and refund of any premiums paid for up to 30 days (depending on state law)
6. Review the policy binder with your insurance agent. Your agents job is not only to find you the best insurance carrier for your health/age. He/she is also responsible to make sure any questions your may have on the policy may be answered, so you are clear on your coverage and its limitations.
How Does The Process Of Life Insurance Work
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