Step 5 - Underwriting Your Life Insurance Application
The Life Insurance Company "Underwrites" Your Application
Once your completed life insurance application is received and your medical exam is taken, they are both transmitted to the life insurance carrier. Once they receive these preliminary requirements, the underwriting process begins.
The underwriting process, on average, takes 4-6 weeks. The time it will take for your individual application depends on what is required by the life insurance underwriter. It is common for the underwriter to request your medical records after reviewing your life insurance application and exam.
The process of obtaining your medical records is usually the longest part of the entire life insurance application process. It can take up to a month or six weeks to receive these records from your physician. During this period you may also be contacted by a case manager to obtain any additional information that has been requested by the life insurance underwriter.
After all requirements are received—including your attending physician statement—it takes the life insurance underwriter approximately 10-14 business days to have a final decision on your application. We will notify you via email or phone as soon as your life insurance application is approved. If the offer (price) is different than what you applied for, we will contact you to discuss your options.
