The life insurance industry can often seem like it speaks its own language. There are concepts such as "fluidless", "proposed insurance" and "riders" – all of which can understandably give some hesitation and head scratch.
In the life insurance purchasing process, you can come across a phrase called "Temporary Life Insurance Coverage", also known as "TLIC". For those of us who like immediate satisfaction with our financial situation ** raises hands ** TLIC is a wonderful thing.
When you qualify for TLIC, that means you can get your coverage while waiting for your medical results and final grade. Think of it as a preview before the movie.
Like any good preview, it can lead to more questions about the main event. The following is what most people ask us about temporary life insurance.
How do I start temporary life insurance?
Not everyone is offered temporary life insurance. Once an application has been submitted, you will know if we can get your coverage started that day. In order for TLIC to begin, we prepare a payment that corresponds to one month's premium. The premium fee is an estimate of your total health based on the information in your application. Once the payment has been settled, the coverage can begin.
Usually, the temporary coverage will be for the amount you applied for, with the maximum available being $ 1
How do you enable TLIC and complete coverage?
We are glad you asked. It's pretty simple:
1. E-sign and enter your payment details
Once you have submitted your application, we can offer you TLIC. To activate it, you must sign your application electronically. Don't worry – it's not a commitment to buy coverage. It simply allows us (when payment is processed) to enable temporary coverage and help you schedule your medical examination. Signing is how you check that the information you have given us on the program is correct.
You have up to seven days to electronically sign your application before your TLIC offer ends and you must submit your application.  Don't worry – your existing application will mostly replenish your responses in the new application when you realign, so you don't have to start from scratch, but, why, why wait until the last minute to email?
Once you have signed and entered valid payment information, temporary life insurance can begin. Woo hoo.
2nd Completing a Life Insurance Medical Examination
The purpose of the life insurance medical examination is to help the insurer determine the appropriate price for your policy. For many customers, a medical examination helps keep your pricing lower.
While the medical exam is one of the few getting offline aspects of Haven Life's application experience, we still take everything we can to make the process efficient and smooth. The exam itself takes about 20-30 minutes and there is no extra charge for you.
The examiner can meet you at home, your workplace or a degree office. Choose a location for the sample where you will be most comfortable giving a blood and urine sample. We find that the majority of Haven Life customers choose to have the paramedical examiner come home.
Pro tip: Consider booking a morning ward, as it is fixed before the test is recommended. For more tips on how to prepare for the medical exam and what to expect, refer to this user guide.
3rd Review Your Final Offer
Generally, lab results and a final offer for coverage will be available within one week of your exam. If additional information is needed, an insurer will reach out with some specific questions about your life insurance application.
If you are not satisfied with your post-medical exam for coverage, you are not required to purchase. No hard feelings. In fact, we pay back your TLIC payment in full (usually within 7-10 business days).
Although unlikely, you may be rejected for coverage based on the results of your medical examination or any other factors. If so, don't worry, you can still have plenty of coverage options available, and yes, your TLIC payment will be refunded.
How long does the temporary life insurance take?
Temporary life insurance coverage is well, temporary. You generally have 90 days to complete a medical examination and during that time you will be covered as long as your TLIC payment is received.
Once your coverage is completed, the TLIC payment will be applied against your first month's premium.
You can cancel your application at any time during the process. Even if you accept the policy, you have a 10-day "Free Look" period to cancel if you believe the coverage is not right for you. Again, allow about a week for the refund to process.
What if I disappear with only TLIC in place?
It is exactly what temporary life insurance is meant to deal with. If you filled in your application carefully and honestly, TLIC was offered and your payment is received, you are covered until you receive a final offer.
TLIC gives you the benefits of active life insurance while still waiting for underwriting to complete its review and complete coverage. If something happens during the TLIC period, your beneficiaries will be able to claim. Who reminds us, do not wait until you have a final policy to notify your recipients.
Temporary coverage is just as true peace of mind
TLIC is a comfortable and helpful feature on your journey to full life insurance.
Part of what makes TLIC so good is that the coverage doesn't actually cost you anything. If you are approved for full coverage after completing your medical examination and accepting your offer, your TLIC payment will be applied towards your first full coverage month. If you are denied or decide not to accept your offer, you will receive a full refund. No strings attached.
But TLIC is just a waypoint to find the peace of mind that you and your family deserve. If you are ready to e-sign and plan a life insurance test, go here. If you have more questions, talk to someone from Haven Life's customer success team. We're here to help. It is literally our job.
Haven Term is a Term Life Insurance Policy (ICC17DTC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111 and offered exclusively by the Haven Life Insurance Agency, LLC. The policy and rider's form numbers and features may vary by state and may not be available in all states. In New York, Haven Term DTC-NY is 1017. Our license number in California is OK71922 and in Arkansas, 100139527.