Life insurance applications typically ask questions about your health, height, weight, medical history, family medical history, smoking habits, driving record, foreign travel. financial, income, occupation, aviation, scuba diving, avocations and more. The company is gathering information to assess a risk in order to determine the premium to charge you.
Based on the answers to the questions on the application, the company may ask additional questions, a doctor's report or medical tests.
If you have questions or concerns, suggest you speak with a local experienced insurance broker who can help you find the right policy at the right price.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
The questions that are asked for life insurance depend on the type of policy you are applying for.
A. If you purchase a guaranteed issue policy, the insurance company only asks your date of birth, SSN, face amount, beneficiary, contact information, and how you are going to pay (including bank account, if you are having the premium drafted).
B. If you apply for a simplified issue policy, the insurance company will ask for the above information, plus they will also ask several health questions on the application. You may be asked about smoking, whether or not you are on Disability, your height and weight, whether you have used illegal drugs in the past few years, etc. The questions are at the discretion of the insurance company.
C. For a medically underwritten policy, they will ask all the above, plus possibly go into more detail about employment, health, family health history, dangerous hobbies, and financial information. They will ask for doctors' names and addresses so that they can order your medical records, if needed. And they will ask the purpose of your policy and whether or not you are replacing a current policy.
President, True Blue Life Insurance, Scottsdale, Arizona
An important thing to know is what they don't ask you but do check. For instance, insurance companies will check:
Your MIB (medical insurance bureau) to see if you have applied with other companies and if you have been declined.
You MVD report (Motor Vehicle Department) to see if you have any outstanding tickets, felonies, or dui's.
Your Pharmacy Report to see what medications you have been prescribed by Doctors.
Make sure you answer the above questions honestly on the applications as the underwriters will be checking this information.
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Based on the answers to the questions on the application, the company may ask additional questions, a doctor's report or medical tests.
If you have questions or concerns, suggest you speak with a local experienced insurance broker who can help you find the right policy at the right price.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
A. If you purchase a guaranteed issue policy, the insurance company only asks your date of birth, SSN, face amount, beneficiary, contact information, and how you are going to pay (including bank account, if you are having the premium drafted).
B. If you apply for a simplified issue policy, the insurance company will ask for the above information, plus they will also ask several health questions on the application. You may be asked about smoking, whether or not you are on Disability, your height and weight, whether you have used illegal drugs in the past few years, etc. The questions are at the discretion of the insurance company.
C. For a medically underwritten policy, they will ask all the above, plus possibly go into more detail about employment, health, family health history, dangerous hobbies, and financial information. They will ask for doctors' names and addresses so that they can order your medical records, if needed. And they will ask the purpose of your policy and whether or not you are replacing a current policy.
Your MIB (medical insurance bureau) to see if you have applied with other companies and if you have been declined.
You MVD report (Motor Vehicle Department) to see if you have any outstanding tickets, felonies, or dui's.
Your Pharmacy Report to see what medications you have been prescribed by Doctors.
Make sure you answer the above questions honestly on the applications as the underwriters will be checking this information.