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What happens after my term life insurance application is submitted and my medical exam has been completed?

April 26, 2017application exam happens medical submitted term life insurance

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What happens after my term life insurance application is submitted and my medical exam has been completed?

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At this time, the term life insurance company will begin to evaluate your case. This evaluation is called “underwriting.” The answers to the questions on your term life insurance application, along with the results of your term life insurance medical exam, are initially reviewed by a life insurance “underwriter”. The term life insurance underwriting process generally takes 3-8 weeks depending on the amount of information, which the company must gather in order to make their decision. Once all required information has been received, the life insurance company will make their decision regarding whether, and at what rate, you qualify for a term life insurance policy.