Before Applying for a Life Insurance Policy

Buying the life insurance coverage you need doesn’t need to be too complicated if you’re prepared. Read below to find out how to make the process go smoothly.

applying for a life insurance policy

What to Know Before Applying for a Life Insurance Policy

Life Insurance - Coach B. InsuranceLife insurance is becoming a necessity nowadays, unlike before. Hence, people are discovering the beauty of securing their future from unplanned life events. What to know before applying for a life insurance policy, there are numerous things that you need to know. Many are not aware of their true benefits and how it can benefit their families and the different types.

Some important details are indeed discussed during the life insurance application process by an agent. However, it is better to keep yourself abreast of the latest information and updates beforehand. It will give you an advantage and increase your chances of getting the best deal.

Moreover, many factors can affect your eligibility to get the best life insurance coverage. For instance, bad habits, health conditions, family history, age are some.

Therefore, if you are recently diagnosed with a terminal illness, it will decrease your chances of getting a life plan. The amount of coverage and the premium depends on your age on the day of your life insurance application. The following are things to remember that can largely affect your life insurance application form.

Life insurance application questions about current and past medical history 

medical examFurthermore, your health is one of the most critical factors for many insurers. It will largely depend on your past and current health status and if your illness is progressing or not. In case you are hypertensive or have high cholesterol, it is still possible to acquire one for as long as it is under control, and your doctor can attest to it. Also, people with diabetes Type 2 can still get coverage if they can prove that their condition is manageable and monitored by a specialist. 

Another is a heart condition. It may be challenging to acquire life insurance. A past or recent heart attack can cause a denial of your application. Hence, it is the same for people who had cancer and in the remission stage, but skin cancer is an exception. However, some insurers can give chances to people who had cancer 5 to 10 years ago, but they need medical documents to prove that they are well and in good health condition. 

Final expense policy, as well as graded benefit coverage, is the most common choice for people who are high risk. Unfortunately, these policies offer a high monthly premium, but it may vary according to the seriousness of a person’s health condition.

Life insurance pregnancy

Pregnancy is not a hindrance for women to fill out a life insurance online application. Usually, pregnant women are becoming very health conscious during this stage in life. Most stop eating junk foods, stop smoking, and stay away from bad habits. As a result, it makes women healthier and increases their chances of getting the best deal. 

Overweight and obesity is a red flag for many insurers, but it is different for pregnant women. Gaining extra weight because of pregnancy will not affect your application. Hence, the insurance provider will not make them pay an extra premium as long as the mother is healthy and without any complications. Pregnant women will never experience any difficulty in acquiring a life insurance policy.

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Benefits of life insurance

The golden rule for almost all insurers is that the younger the applicant is, the higher the chance of acquiring the best deal for insurance coverage. Likewise, as a healthy person and without any health problem, you will not experience any hardship. However, the elderly or people who are already close to their retirement age upon application can expect a high premium with limited coverage. An average person who applies for a plan can acquire coverage that is 20 times of their yearly income. 

How to pass life insurance medical exam

No Medical exam term life insuranceIt is not an examination but an interview. Therefore, get ready to answer typical life insurance questions on the application regarding your health and medical history. All information is needed by insurers to come up with a decision if you are eligible or not. Hence, it will determine your classification. You may also need to provide details on your recent urine and blood test result and details about current height and weight. 

If you are scheduled for an examination, it is advisable not to eat anything heavy eight hours before it. Also, you must not take any alcoholic drink for 24 hours or more. It is also good not to take too much caffeine, especially in the final hours before the tests. 

Life insurance waiting period

Different Life Insurance PoliciesIf you apply for a standard life insurance policy with an underwriting process and medical examination, it will take three weeks. However, expect that it might go over three weeks depending on the situation because any complication about your health or information you gave will increase the waiting time. Also, insurers may ask for a medical record from your doctor, and it will add up to the delay of the result. 

Moreover, if you do not want a lengthy waiting period, you can opt for no medical exam life insurance coverage. Typically, the waiting time will only last for two to three weeks. However, the coverage is limited, and it is only for those who are 60 years old and below. It is also one of the costliest policies compared to policies with an underwritten process with a medical examination. 

If you want to discover the in and out of life insurance application, you may contact Coach B. Life Insurance at 800-342-1537.

Applying for a life insurance policy FAQs

How to apply for life insurance application online?

Life Insurance Made Easy

Just apply online at your convenience, and if more information is needed, a licensed professional will get right to you at a time of your choosing for any questions you have – and that’s it!

How to fill out life insurance application form?

Buying a life insurance policy online may seem foreign to some. But with the right tools, it can actually be quite easy to apply for a life insurance policy entirely online without setting foot in the office of an insurance agency or a medical examiner.

Does life insurance require credit check?

Your credit score won’t affect how much you pay for life insurance, but your credit report contains some contents, like past bankruptcies. Life insurance carriers do make a soft inquiry of your credit report and assign you an insurance score based on your insurance history, income and debts, and driving record, which influences your final premiums.

Meet the team

About Coach B.

After starting his financial career with Phoenix Home Life Insurance Company back in 1992, Scott decided he wanted to provide people with an easier and more enjoyable way to buy life insurance. That was the start of Coach B. Life Insurance, whose mission is to be transparent, honest, and helpful to customers — without ever bugging or pushing them.

In the years since then, he has worked tirelessly to improve the process of shopping for insurance. His goal is to make sure that everyone who comes to Coach B. — whether they end up buying a policy or not — has the best possible experience.

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