Now we’re rolling. Just because I’ve used two posts getting to the actual life insurance application and life insurance exam is not indicative of how long the process takes. Again, as promised, at the end of this series I will give a breakdown of the actual customer hands on time that has been used.
When we’ve reached a point where a client asks me what we need to do to move ahead, the answer is I need the personal information to complete a life insurance application. I always send an Application request form with quotes when I email the out, a fillable, emailable form that makes the transfer of that information easy and secure. Once my office receives the information we usually get the actual application for signatures out the same day via email. All we ask is that the client check the application for accuracy, then sign and send back the signature pages. They can be scanned and emailed back, faxed back, and for our technologically deprived clients we have them mail back the signature pages.
The day after we send out the application we order a life insurance exam. We use Exam One, a third party examination company that we’ve had great success with. They have a local examiner get in touch with you and set up a time, date and place to complete the process. For most clients this consists of blood and urine specimens, height, weight and blood pressure and a review of medical history. They will also ask for contact information, the names, addresses and phone numbers of your primary care doctor and any other doctors you see or have seen on a regular basis. It can be done at home or work or their office. It can be done mornings, evening or weekends. Keep in mind that the blood and urine work requires a fasting exam. While you may be told 12 hours of fasting and first thing in the morning generally accomplishes that, if you eat prudently and modestly the day of the exam and fast for 4 or so hours prior you are likely going to be just fine. If you slam a greasy cheeseburger and a large shake right before the exam your glucose and triglycerides will impress the underwriters in the wrong direction.
My best advice for both the application and exam are to be as open and honest as you can possibly be with both. When a question starts with “have you ever”, give it some thought before answering and make sure you provide the best information you can remember. Keep in mind that your medical history is documented in your medical records and just because something was 10 years ago doesn’t mean it’s not relevant.
The good news with the paperwork and the exam is that you won’t have tied up more than an hour of your time and you can schedule it at your convenience. While I never ask for money with an application, if you want to get a temporary insurance agreement you would have to pay some amount of money up front for that.
If you have any questions or it seems like your life insurance application process is more complicated than it needs to be, call or email me directly. My name is Ed Hinerman. Let’s talk