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How does the process of buying life insurance online work?



2. Choosing an insurance

Once you have adjusted the quote to suit your needs, you get insurance options from the best insurance companies. The prices for each policy are displayed so that you know what you are applying for.

Quotacy's licensed agents are white-collar, not commission-based, so if it's best in your budget to choose the cheapest policy, go straight ahead.

3. Fill in the application

Once you have chosen a specific policy, it is now time to register for an online account at Quotacy.com. Your information is private and will never be sold to third parties. The information you give us in your application is secure and is only shared with the life insurance company you are applying for.

Completing the online application only takes a few minutes. Once you have submitted it, a Quotacy agent will review it to determine that we do not lack information that could slow down the process. We also make sure that the company you chose to apply for is best suited in your case.

For example, if you note in your application that you suffer from sleep apnea and have applied to a company that we know will not offer the best price because of it, we will suggest the carrier that is more lenient against that condition. It is important to note that you can still apply with the original operator, it is entirely your choice, we just want to make sure you know your options.

When everything is ready, we will send you a Kickoff document in a secure way (1

-2 pages) to sign electronically (and securely!) So that we can complete your complete application and send it to the life insurance company.

4. Schedule a telephone interview / end online history

Some companies want you to make a call to verify the information you provided in your application. This is called a telephone interview.

This confidential telephone call will last for approximately 30 minutes. The request is mainly to review your application for consequences and collect information such as your doctor's office and driving license.

Other companies offer an online version of this verification step instead. In the industry, this is called an online part B. It is really just an online form you fill out and take half the time of the phone interview.

When the interview / online form is ready, it is time to schedule your medical examination if applicable.

»Read more: What to expect from your telephone interview

5. Getting a Medical Exam

Many life insurance companies require applicants to undergo a simple medical examination. The life insurance medical examination is completely free for you and the examiner comes to your home or office, where it suits you best. You can schedule the exam to fit into your lively lifestyle.

Some life insurance companies offer a faster insurance process for qualified applicants. Your Quotacy Agent will notify you when you apply if you are eligible to skip the medical examination.

If you want to avoid the medical examination altogether, choose to apply to an operator that has been flagged as No Exam. These options will appear when you run futures insurance if you are eligible.

 Quote time insurance for 35-year-old man who uses tobacco

»Read more: 10 Tips for the best life insurance medical examination results

6. Waiting for approval

When the insurance company has your application, your interview is complete and your medical examination is complete, all you need to do now is wait. The subscription procedure begins then, when the life insurance company looks at all your information and determines the risk of insuring you.

If you are relatively healthy without lifestyle characteristics, the chances are high that you will be approved for the insurance and the price you applied for. If there are any problems, we will contact you and explain your options to ensure you get the best possible coverage.

We will keep you updated as your application goes through the approval process. When your policy is ready, we will send it to you via secure e-mail or snail mail (depending on the operator.) Then just sign a few papers, approve your payment method and finally rejoice! You're done! Your loved ones are now protected should the unexpected happen.

Term insurance is something you never hope to be able to use, but should it arise, your family will be grateful that you planned in advance. Remember to keep your policy in a safe place and review it annually and every major life event. Share the importance of not being a "fast shopper" with your friends and family.

Note: The life insurance quotes used in this article are correct as of October 21, 2021. These are estimates only and your life insurance costs may be higher or lower.

Photo credit to: StartupStockPhotos


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