Co-Founder, Coastal Financial Partners Group, California
It all starts with a conversation with a life insurance professional who can explain the process, educate you on what's possible, engage in fact finding to perform a needs analysis to customize a plan for you and your family.
Normally, a formal application for life insurance, which answers questions the insurer needs from you is a key step and consent is given with signatures by the owner and proposed insured. In it you indicate policy owner, insured (who may also be the owner), beneficiary and other instructions. A paramedical exam will be scheduled where vitals, blood and urine and medical history will be collected from you. The life insurer uses all the information collected to underwrite the policy. An offer will be made through the life insurance professional which you may accept. A policy is delivered to you after payment is made (sometimes not on delivery but at time of application). The policy will be in effect at that point.
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Normally, a formal application for life insurance, which answers questions the insurer needs from you is a key step and consent is given with signatures by the owner and proposed insured. In it you indicate policy owner, insured (who may also be the owner), beneficiary and other instructions. A paramedical exam will be scheduled where vitals, blood and urine and medical history will be collected from you. The life insurer uses all the information collected to underwrite the policy. An offer will be made through the life insurance professional which you may accept. A policy is delivered to you after payment is made (sometimes not on delivery but at time of application). The policy will be in effect at that point.