The Importance of Applying for Life Insurance Today

Life Insurance

When you are shopping for life insurance quotes it makes perfect sense to shop around for different quotes. Everyone wants to make sure they are getting the best deal they can  and with so many life insurance companies out there, you have a great deal to choose from.

Many people I speak with have life insurance only through their employer. Some clients I speak with do not have any coverage at all. One thing I commonly hear is most want to take some time to think about applying for life insurance. Here’s an idea. What if you thought about the life insurance while taking life insurance quotes, starting an application and going through the application process to see what the final decision is? When a life insurance company comes back with a final decision it’s up to you to decide whether or not you want to accept the policy.

When you are shopping for life insurance and gathering quotes, find out what the application process is for the company that has provided you the quote. In past blogs, I’ve talked about different types of life insurance and some that require medical exams versus those that do not. Find out exactly what you would need to do to get the application started. The reason I believe it’s a good idea is because with fully underwritten life insurance, which usually requires an in-depth application and medical exam, it can sometimes take a long time for the insurance company to reach a decision because they sometimes need additional information or medical information that has to be requested from a doctor’s office.

Usually when applying for life insurance there is no cost to apply, no money down and no cost for the health exam. Again, always ask the company that is providing quotes what their requirements are for applying. Some clients I speak with apply with three different companies at the same time. The reason they do this is because the quote or estimate you receive for life insurance is just that, an estimate. Sometimes the final price can come back higher, lower or stay the same as the original quote.

So keep in mind when you are applying for life insurance coverage, it can take some time and why not give yourself the peace of mind knowing that you have at least taken the first step and completed an application?

About the author: Dan Cody has been in the life insurance business for over 7 years. He loves playing a variety of instruments including the guitar, bass, drums, and piano. He also supports cancer research foundations and volunteers at local pet shelters. Dan enjoys helping customers understand life insurance, so they can find a solid policy that fits their needs. You can reach Dan at 1-800-651-1953 or DCody@Pivot.com.