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How do I Submit an Application for Life Insurance?

By James Tobin 

Critical  Takeaways

  • Application is taken by telephone
  •  Signature is sent by computer with a secure link
  • Process takes about 15 minutes

Once you have decided on terms, received pricing, and chosen a carrier, you need to actually submit an application.

The actual application is filled out by your agent or staff that is associated with the agent. This process usually takes place over the telephone and takes about 15 minutes.

The application is then emailed to you for secure electronic signature(s) and you return them via email.

At this point you will have your medical exam scheduled for you (assuming you do not choose a non-med policy).

Your next step will be to actually take the medical exam and do a telephone interview with underwriting, and wait for the results.

While this process is quick and mostly painless, it will require you to have certain information available.

The underwriting interview will last as much as 25-30 minutes and is very detailed. the best practice is to truthfully answer all questions, but to keep your answers short and not to offer any unsolicited information. The info needed is below:

Drivers Licence You will need to provide your drivers license number on the application. This is required, as your driving history is part of the underwriting analysis.

Social Security Number- This acts as the unique identifier. The social security number is required on all applications.

List of prescription drugs being taken This information will be asked during the application stage. However, it is always double checked, so be prepared. This will make the process faster.

Checking account number & routing number- This is necessary to bind a policy and choose the drafting day for your payment.

When a policy is bound, the applicant will be covered from the day of the application , assuming the rating class paid for is agreed with by underwriting.

Now you know the answer to the question  “how do I submit  an application for life insurance?”. As always, if you have any questions, please don’t hesitate to 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..