What to expect when applying for life insurance?

Life insurance can help you ensure your family a steady financial future after you die. Chances are, you know, you need life insurance, especially if your loved ones who count on you for this kind of support.

Purchasing a life insurance policy may help them either pay the bills or keep them afloat when you are not around anymore. But how do you go about buying coverage? What factors should you consider when buying life insurance? Understanding what implies a life insurance policy can help you get the coverage you need at a suitable price.

Establish your coverage need and your insurance policy

You’ll have to decide whether you need permanent life insurance that provides coverage for your entire life or a term life insurance, which may be enough to get you out from a financial crash. Once you have decided to purchase life insurance, make sure you take your time to determine the amount of coverage your beneficiaries or, in this case, your family will need after you die. Typically, this amount depends on a few aspects, including your spouse’s financial capability, the age of your dependents, and your financial resources altogether.

Application requirements

When applying for life insurance, besides basic information such as your name, address, or employer, the insurance company will need to ask a few personal information:

  • Height
  • Weight
  • Date of birth
  • Lifestyles habits (whether you drink, smoke or exercise)
  • Financial information, including your current annual income

While it might be tempting to lie about your current health issues, it is highly essential, to be honest. If the insurance company finds out that you have lied about your lifestyle or health condition, they are more likely to cancel your policy, increase your premium, and even deny a receiver’s death benefit.

While some companies will accept life insurance without an exam, most companies may still require an in-person medical exam. How does it work? An insurance agent will arrange for licensed healthcare professionals to visit you at the office, home, or clinic chosen by the insurance company.

What will happen during the exam? The paramedical will likely:

  • Review your medical history (surgeries, medical conditions, and any prescription medications)
  • Ask about your immediate family’s medical history
  • Check your blood pressure
  • Heartbeat
  • Check both your height and weight
  • Take a blood and urine sample
  • Ask you about your lifestyle habits that could be health-threatening

Ways You Can Reduce your Life-insurance Premium

In case there is nothing you can do about two or three factors such as age, or family medical history impacting your insurance premium, there are some measures you can take regarding your lifestyle so you can decrease the insurance premium:

  • If you drink, make sure you reduce or eliminate alcohol intake. Because drinking can obviously be considered a possible health risk, insurance companies will check your application, driving record, and your medical exam to examine your drinking habits. It is worth knowing that drinking less or stopping entirely will show them that you are less of a risk therefore, they will reward you with a lower premium.
  • Quit smoking. It goes without saying that a non-smoker is more likely to live longer. This will provide your insurance company more years to collect your premium before paying out your policy when you die.
  • Lose Weight. Losing weight means lower cholesterol levels and lower risks of blood pressure and chronic diseases. The sort of improvements will make you a better insurance risk.


Taking some time to educate yourself regarding your life insurance options is more important than you think. Understanding the options and types of coverage you need can work wonders for both you and those you love as you get the possibility to ensure them a steady financial future.

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