What is the life insurance process?
- Pick your plan — Determine the right type of life insurance for you and how large a death benefit you need. You can make this decision by yourself or consult with us for free. For assistance, call us at 1-800-823-4852.
- Compare life insurance quotes — You can instantly compare term life insurance quotes online. For other types of insurance (or for specialized term life insurance) you can submit an email request to us or call us on the phone. Pick the insurer that gives you the cheapest quote.
- Apply — If you got your quotes from our instant term life insurance quoter, you can actually fill out and submit your application online. If you did not use our instant online quoter or if you don't wish to fill out the application online, one of our helpful service people will call you and get the required information, then submit your application for you.
- The medical exam — One of our friendly service people will call you to schedule a free medical examination. A medical professional will come to your home or office to administer the exam. The data from the exam are used by the insurer to ascertain your rate class.
- Wait — The insurer will request your medical records and possibly other records that give a clue as to the risk you represent. This process of requesting and reviewing records takes some time, usually 4–6 weeks. You don't need to do anything during this period, except be patient. If this is too long a wait, consider the more expensive "simplified issue life insurance."
- Receive an offer — We'll notify you once the insurer finishes considering your case. If the insurer is willing to insure you, it will make you an offer. If the insurer agrees that you belong in the same rate class that you designated for yourself when comparing life insurance quotes, your offer will be the same price as your quote.
- Accept the offer or play hardball
- If you are satisfied with your offer, your agent at Wholesale Insurance will send you the contract to sign. Your contract becomes binding after you sign it and pay the first premium.
- If you are unsatisfied with your offer, let us know, and we may be able to get a better one with our knowledge of the underwriting practices of the top insurers.
