term life insurance. The first thing you need to do is to start with getting a quote. Now you can do this in one of two ways, you can go online and use some of the many varied quote systems that are available and search through different companies. There are so many insurance companies out there who already use the online system like aaa life insurance, banner life insurance, etc.ow, we want to talk about how you go about buying
Make sure you find a quote that you’re comfortable with. But you can also simply find a life insurance agent. There is no difference in premium between doing the quote online and going directly to the insurance company or going through an agent. So once you get your quote, you’ve determined now. Which type of term life you want to buy, and what life insurance company you want to buy with.
Fill Out an Application
The next step is to get started filling out an application. With the application is going to ask you for a lot of personal information. Of course your name, birthdays, Social Security Number, where you were born, where you work, and it’s also going to ask for a very thorough medical history over the last 10 years.
So be prepared to report every time you’ve seen a doctor, any surgeries or hospitalizations that you’ve had during usually a 10 year period of time. Finally, they’re going to ask for a family history. They’re going to ask what your parents if they’re alive, how their health is if they’ve died what age they died of and what did they die from.
The third step is you’re going to need to typically complete a blood at work and a urinalysis, you will find out while you are applying how to go about doing that. And of course, in the blood work, they’ll be checking for AIDS, other sexually transmitted diseases, drug use, nicotine use, alcohol use, etc. Once you’ve completed that application process and done whatever other requirements like the blood and urine that are required by the insurance company.
Review The Information
The next step is up to the insurance company. They’ll review your information. They might ask to get some of the medical records from your doctors and they’ll await the results of your blood work. At that point, the insurance company will come back to you and make an offer. Hopefully, the offer is exactly what you applied for, but sometimes they’ll offer you at a little higher rate, or sometimes a little better rate than what you applied for.
Once you get your offer, simply paying the premium, and usually turning in a policy delivery receipt, completes the process, and you’re fully insured. So I hope that answers your question about the process to buy term life insurance. If you little a confused when choosing between whole life insurance with term life insurance. You can read my related article “Term Life VS Whole Life Insurance“