It is one of the most common complaints among life insurance applicants; why does it take so long to get my term life insurance policy? The reality is that it usually takes 4-7 weeks from the time you submit your application for the insurance company's underwriters to review, approve, and issue a policy.
The process can be straightforward and simple if people pay close attention to the detailed questions on the formal application and complete the free, required medical exam in a timely manner. Truthful answers regarding medical history or things such as your driving record help insurance underwriters do their job and thus, expedite the process.
The process can be prolonged if the company requires additional information from a physician or health care provider about health issues or surprises that might come up in your medical records. These requests to doctors or hospitals are what usually cause delays.
The prospective insured can play a role in moving the system along by communicating with their doctors or health providers to help get the requested medical information in the hands of insurance company underwriters as soon as possible. Ignoring questions will only prolong the process.
Getting a term life insurance policy is a serious matter and requires that applicants follow the appropriate steps and guidelines which insurance companies have in place. Internet life insurance brokers who provide online term life insurance quotes tell customers up front that filling out insurance applications truthfully and carefully will help streamline the process and be to their advantage in the end.
Ileana Bravo is the Director of Media & Investor Relations at LifeQuote, the national leader in life insurance. Follow her at the LifeQuote blog where she covers news and trends related to life insurance, health, and finance.
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