How to Buy Whole Life Insurance

When filling out an application to buy whole life insurance, you want to be sure to provide all of the correct information and documentation. While completing all of the required forms can be a long and daunting process, it can be made easier if you are prepared and have all the necessary materials available. The process can also be simplified even further if you buy whole life insurance online by checking and comparing insurance rates with a reputable company such as LifeInsuranceRates.com. This eliminates the endless hours and interruptions into your day that you would experience by going direct with an agent or broker.

Necessary Materials to Complete an Application

If you use a site like LifeInsuranceRates.com to pre-screen potential providers, you will only need to have an idea of the amount of coverage you want to buy along with some basic demographic information. Once entered, you will be matched with providers who specialize in providing the type of whole life policy you need. After you've had a chance to evaluate each option, you should select the company or agent who can provide you the best coverage at the best rate. Your chosen provider will provide you with a questionnaire, which is the first step you will need to complete before you can actually buy your whole life policy. Read completely through it and write down everything you will need. If you need documentation from a physician, be certain to gather all of this information from your medical provider prior to beginning the application process to buy whole life. If you need to order photocopies of any medical records try to do so early so that you will not be waiting around on them. Some policies will require you to have a medical exam before you can buy whole life insurance. Make these appointments as early as possible to avoid delays in the completion of your application to buy whole life. You will also want to be sure to have on hand any documents containing information you will need to look up during the process, such as driving records, addresses, dates or medical history. Immediately before filling out your application to buy whole life insurance you should gather any pens, pencils or highlighters you may need. It may be a good idea to first go through the application and fill out the questions that you can easily answer, highlighting the areas that you will need to look up information for. By highlighting these areas you can ensure that you will easily find them when you come back and not inadvertently skip any questions.

The Final Decision

After completing your application to buy whole life insurance online, it may be a good idea to look over the terms and conditions of your plan one more time. When you buy whole life you should keep in mind that a whole life plan is permanent. Coverage is provided for the lifetime of the insured and it never expires or requires renewal. Additionally however, the amounts and terms of the policy cannot be altered at a later date should your needs or circumstances change. Go over your policy plan with a fine toothed comb before submitting your application to buy whole life insurance.

Sample Questions from a Whole Life Insurance Application

You should be completely honest and straightforward when filling out your application. You don't want to give the company a reason to deny your policy at a later date because they found out you had been untruthful. Following are some sample questions you may encounter in your application to buy whole life insurance online or from an agent: What is your regular physician's full name and business address? Have you used cigarettes, cigars, nicotine patch or any other products containing nicotine in the past 10 years? If you answered yes please list details here. Are you currently, or have you in the past 6 months, taken any prescription or nonprescription medications or drugs, either legal or illicit? If you answered yes please list details here. Please list any family history of depression, mental illness, heart disease, diabetes, kidney disease, cancer or other inheritable disease. Have you gained or lost a significant amount of weight in the last 6 months? This is by no means a complete list, but you can count on your provider asking every tough question they can think of to ensure they're charging the appropriate rate. Again, you should be as truthful as possible during this process or risk having your policy voided. If you're ready to begin comparing current offers from national or local providers, you can review rates by completing the form at the top of this page.