How do I Finalize a Life Insurance Policy?

Last Updated on

Reviewing and Accepting the Offer

You have applied for the right amount of life insurance at a fair price, you submitted the application, took the medical exam and got a favorable report from the underwriting department. Congratulations, you are almost home.

All that remains are what are known as delivery requirements. This usually is limited to an electric signature. A check, if you did not submit payment with the application , and signatures on any amendments to the policy. This should take no more than a few minutes.

The big takeaways for the client are to familiarize themselves with the draft day for payment if paying monthly, and to store the policy in a safe place where it will be readily accessible in the event it is needed. It is a good practice to let a beneficiary know where to access the policy.

Congratulations! You now the the answer to the question “How Do I Finalize a Life Insurance Policy?” You have gone through the steps to protect the ones you love. Hopefully with the guidance of the help desk it was not to painful.

Be an Informed Consumer    

Get Your Free Life Insurance Buyer's Guide 

If you have any questions about this policy or any other, feel free to contact the help desk at (203) 424-1100 or contact us.

James Tobin, CFP

Jim Tobin is the owner of Life Insurance Help Desk, a Fairfield County, CT. life insurance agency. You can find him on LinkedIn and Facebook. Over the past 10 years, Jim has used his CFP-financial planning designation to help individuals with their life insurance needs. In addition to working with life insurance clients, Jim teaches ESL classes in his spare time. He resides with his beautiful wife Nicole and the 3 cats that rule their lives..