you have decided on a term life plan and
rate that works for you. You want
to go ahead and apply for your
particular plan. What information
should have ready before starting?
This is an important consideration
especially in light of our expedited
application process. To take full
advantage of our call-in process and the
speed and ease-of-use it offers, there
are certain pieces of information on
your side that can help the process
along. Let's take a look at
information needed for the
term life application.
First, the best part of our service is
the application. I know this
sounds hard to believe since any type of
insurance application is rarely a fun
event. We can't promise fun but we
can bring some great tools to your
advantage. What's involved to
start...some nasty, long legal form in
triplicate with a lot of Latin words?
No. All we need to start the
process is a 10 minute phone interview.
It's not even in Latin! We can get
the information we need to start the
process over the phone and populate the
application with this information.
The great part about this is that
there's no guesswork. Term life
insurance has very specific (and
unfortunately) technical language that
pertains to the world of life insurance.
It can be a little intimidating when
you're reading through an application on
Term life beneficiaries, key person
insurance, various term life
riders...that can be overwhelming and
what happens when a person runs into
difficult applications? They tend
to set it aside (where it sits for a
long time if not forever) even though
the person knows they need life
insurance and has found the right term
life rate and coverage. Let us
help you avoid this pitfall. If
questions come up as we walk through the
application, you have a professional on
the line to help you. Now, what
information should you have ready during
Life insurance does touch on medical
history and status so it's important to
have that information ready. You
should have a list of your medications
and dosage as well. Ideally, if
you have your accurate height and
weight, that can help us with the
process and most importantly, allow for
a more accurate quote. Cholesterol
and blood pressure is handy if it's
outside the normal range..again so we
can provide a more accurate quote.
Keep in mind that this information will
be taken during the
paramedical exam but it never hurts
to have any medical information ready
that you do have.
The term life beneficiary information is
incredibly important. This is the
person(s) or entity that will receive
the benefits if the insured passes away
so we don't want any questions later on
that can jeopardize the smooth
transition and payment of benefit to
your desired person/entity. You
want to be as exact as possible.
For example, "spouse" is not specific
enough. Provide the full person's
name, address, and ideally SS# so
there's no question.
the life insurance policy will be owned
by a Trust or Corporation, make sure to
provide their complete information as
You want to have your established reason
purchasing term life in the amounts
you are requesting. For example,
if you make $50K annually with no real
liabilities and you are requesting $3M
in benefits, that may be a tough sell.
Ideally, have the reasons for your
coverage spelled out...mortgage, income
replacement, funeral costs, kids
Checking account or credit card
information for auto-deductions.
You can always pay by check but the
auto-payment function tends to be the
safest way to avoid lapsing your life
These are the main pieces of information
you need ready before applying for term
life insurance. Feel free to run
any questions by us. As your
licensed life insurance broker and a
specialist in expediting term life apps,
we are here to help.