What is the process for setting up life insurance

What is the process for setting up life insurance -

People choose a life insurance usually a reason: security. Whether to protect family and loved ones, leave a legacy or cover debts, more Canadians than ever are buying life insurance to increase their financial security. Buying life insurance can be made by phone or in person. But as a broker, we prefer face-to-face because we believe it gives us a chance to really understand our customers and more thorough in our gathering. We are flexible with our time; we know that everyone can not make an appointment during the work day, so we make ourselves available for meetings outside of office hours. In fact, to make life easier for our customers, we will usually visit them instead of them to visit our offices

This is how the process usually works :.

1. First meeting
2. quote Put together
3. Please fill out the application
4. Deliver the hand policy

It begins with an initial meeting. This is where we collect information on the client. We want to know the facts so that we can associate the cover properly. We take down the medical information and lifestyle and we also talk about revenue. Each client is provided a comprehensive assessment of the recommended insurance based on the information we have gathered. It is our duty to consult our clients and provide the necessary information to make their informed decision.

Once we passed the stage of gathering information, the next step is to turn to the customer. That's where we look at the products available and assessing what would be the best solution for the customer, based on all the information gathered. We make sure that you understand what you can expect to pay for your life insurance based on your current status. Keep in mind that what you pay for life insurance is largely based on the following:

1. Age
2. health
3. Smoking *

once our client decided on a product of life insurance, we begin the application process. The application usually takes 60 minutes to complete, and we do it face-to-face. In some cases, if we can not meet our customers face-to-face (eg. They are out of town or traveling), we can do it via Skype. There are also medical requirements that we will order to the customer. A nurse will go out samples (for example:.. Blood and urine) From there, the request is sent to the insurance company. Underwriting can last from two days to six months, it really depends on the support and coverage.

When the subscription is made, the broker is notified and the policy is delivered to the customer in person. Moving forward, any changes to the policy can be done by the broker (but an individual may also deal with the insurance company directly, but you may want to simply let your broker.)

Remember, the length of time it takes to complete the entire process is based on the client - they actually drive the speed we will

Blog Author :. Aline Barker | Account Executive, Individual Life & Financial Services | Rogers Insurance Ltd.

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