We know you have a lot of choices when buying a term life insurance policy, and we are proud that you have chosen to purchase your term life insurance policy through IQuote. Insurance Quote Services, a pioneer in the industry, has more than 20 years of experience processing Term Life Insurance applications. Over the years we have streamlined our procedures to make applying for insurance simple and painless.
Here are the five steps that we will follow in completing your application to receive a Term Life Insurance Policy.
You provide the information to begin the application process
IQuote will confirm the information it receives from you
You submit the application and provide a deposit, if applicable. A medical examination is scheduled and completed (if required)
The insurance company will review and underwrite the term life insurance policy.
IQuote will receive the accepted term life insurance policy from the company and mail your policy to you
1. You Provide the Information Needed to Begin the Process
- Complete/submit the online risk questionnaire to find plans suitable for you
- Select the carrier and plan that best suits your needs
- Complete on the Application Request button. This lets our agents know that is the term life insurance policy you want. If you prefer to complete the process by telephone, please call 1-800-972-1104 and licensed representative will take your information by phone, present you with term life insurance quotes and help you select the right term life insurance plan for you
2. IQuote gets the application process underway
- We call you before the close of the next business day to verify the information we received and make sure that the product selected suits your needs.
- We will send you the application by Express Mail or by e-mail, within two business days.
- We will contact a medical representative in your area who will contact you to schedule a time for your physical examination. This appointment is essential to getting the application completed and on to the insurance company, so don't delay.
3. A medical examination is scheduled and completed (if required). You complete the application and hand it to the medical examiner.
- Complete the yellow highlighted areas on the application and any supplemental forms. If you have any questions, call us at 1-800-972-1104 and we will be glad to help
- Some states require a signed insurance illustration. If this is included in your package, please sign it. You must return it with your application.
- You may want to conditionally bind your coverage and if so, please include a check or credit card number for the premium amount you have selected. If you have questions about the benefit of binding the policy please call 1-800-972-1104.
- Give your completed application to the medical examiner. The examiner will submit the examination to the insurance company witht the medical results and will send the application to IQuote.
4. The Insurance Company will review and Underwrite The Term Life Insurance Policy
- As part of the process, the insurance company may contact your physician for an attending physician's report because of some prior health history. You can help expedite this step by calling your doctor and ask they reply promptly to request for information from the life insurance company.
- The Underwriting Process generally takes the insurance company about six (6) weeks after the exam is completed and your application is submitted. The most common delays are due to incomplete answers on your application and the time needed for the company to obtain medical information from your physician. We will update you during the processing, but if you have any questions about the status of your term life insurance application, please contact us at 1-800-972-1104 ext. 221 or 222.
5. IQuote Will Obtain and Mail Your Term Life Insurance Policy to You.
- When the review is completed, the insurance company will contact IQuote concerning how they have rated and priced your policy. We will work hard for you to get the term life insurance rates quoted, and we will contact you immediately if there is a difference in rates.
- We will forward your policy to you as soon as we receive it in our office.
- Your initial premium payment (unless you included it with your application) and any other final delivery requirements will be requested when we send your policy. Your future premium payments will be sent directly to the life insurance policy.