Why does it seem like there are so many delays to process a life insurance Applications?
Term Life Insurance
Life Insurance Applications
If this is your first time getting term life insurance (or any type of life insurance) you may not be ready for the amount of time it will take. Most people don't understand why term life insurance takes so long to get. Most life insurance companies can take anywhere from 1 to 3 months to process a term life insurance application.
There are many reasons for this. They all have to do with the life insurance company's desire to understand who you are and what your life expectancy is. To determine this, life insurance companies require a full application, a medical exam, and many times they ask for your attending physician statement (APS) as well. All of this information can help the life insurance company determine the life insurance rate you receive.
Most of the time you spend waiting, the life insurance company will also be waiting. It can take a long time to get an APS from your doctor. Sometimes it can take up to 6 weeks. It is possible for you to speed up the process by personally requesting that your doctor mail the APS to the term life insurance company.
