Most policies will be issued in 4-6 weeks.
The average total process time for a life insurance application is about 4-6 weeks, (instant and simplified issue policies, however, can be purchased within a few days or even hours).
The application process can vary depending on your policy, carrier, and health-care provider.For example, companies that use a standard paper application will take about a week longer to process than ones that use an E-Sign process.
Application: After applying online, a paper application is mailed to you for review and signing. This step takes about a week, but can be more based on how long it takes you to review, sign, and return the application. If E-Sign is available, this can be done in 1 day.
Medical exam: The free exam is scheduled for about a week after the application is mailed and takes 20 minutes to complete. The examiner meets you at your home or work.
Underwriting: This takes from 1 week to 2 months. Underwriting is the carrier’s application review process. It takes a few days to a few months depending on the specifics of your application. Your health-care provider can also influence the length of underwriting.
Activating your policy: This takes from 1 week to 3 weeks.
Your agent will be able to provide you with an estimated process time based on your specific application circumstances.
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