What is the Application Process?
For a more detailed description of the life insurance application process, click here.
The life insurance application process is the same for term life insurance, universal life insurance, and whole life insurance. The amount of time needed to underwrite the application depends on the carrier you have selected and the potential need for attending physician statements.
The following are brief descriptions of the steps in the life insurance application process:
- Request an application for term life insurance or other life insurance products at WholesaleInsurance.net.
- Take the free life insurance medical exam.
- Return the signed term life insurance application to us.
- We send the application and the medical exam results to the carrier with which you are applying.
- The carrier begins to underwrite your application.
- If needed, the carrier will request an APS (Attending Physician Statement)
- The life insurance company underwriters determine your health class.
- The policy is issued and sent out to you with delivery requirements (any forms that still need your signature).
- You return any delivery requirements and premium due.
- When the life insurance company receives the delivery requirements and the premium, your life insurance policy is put in force.
These are the general steps required in the life insurance application process. It is possible that the carrier won't require all of these steps, or that they'll require more.
