Category Archives: Life Insurance
Why Should I Work With A Life Insurance Broker?
Why Should I Work With A Life Insurance Broker?
What is a Life Insurance Broker?
Should I Work With a Life Insurance Broker ? A life insurance broker is a committed individual that encourages and listens to the needs and wants of an individual. An insurance broker will be able to find appropriate rates for you to choose from. When you speak to a life insurance broker, you can get the life insurance you require from a carrier in another city or province that is offering better rates then a local life insurance company. We will answer the question below: Should I Work With a Life Insurance Broker?
There are many advantages in dealing with a life insurance broker when you want to obtain life insurance.
Life Insurance … What is the Underwriting Process?
Life Insurance Underwriting
Determining Cost
Life Insurance Underwriting is a process that determines the risk of insuring a person. Therefore, underwriting involves looking at the application and evidence. This provides the information to determine the risk the insurance carrier takes in insuring this individual. Ultimately, this calculation is translated into the cost of the policy. This means the more risky the individual is to insure, the more the policy will cost.
How Long does it take?
The underwriting process generally takes about 4 to 6 weeks. Sometimes, Attending Physicians Report (APS) is required this could add several more weeks. An APS is a report from your doctor summarizing your health history.
How is Life Insurance Evaluated?
Factors an insurance underwriter use include;
Employment, what’s changed and what remains the same?
Employment, what’s changed and what remains the same?
Years ago, we could secure employment where you did your job and went home in the
evening to enjoy your family time. Now it’s a crazy life with a frantic pace, which we call progress in a 24/7 world.
Most employers are asking their employees to work longer hours, earning less money and with little assistance. We live in an age where we have instant access to emails, text messaging and abundance of information at the tips of our fingers. One would think with this we would have more time however it has been proven to have caused the opposite. Inundated with so much information, we sometimes find it more difficult to make a decision on the simplest tasks.
