I got my instant life insurance quotes, so what do I do next?

Colin Lalley 1600


Colin Lalley

Colin Lalley

Associate Content Director, Home & Auto Insurance

Colin Lalley is the associate content director of home and auto insurance at Policygenius, where he leads our property & casualty editorial teams. His insights have been featured in Inc. Magazine, Betterment, Chime, Credit Seasame, Zola, and the Council for Disability Awareness.

Published June 24, 2016 | 3 min read

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You’re the proud owner of some shiny new instant life insurance quotes.So...what do you do now?Here’s a quick rundown of what to expect as one of those lucky quotes turns into your very own life insurance policy.

Compare quotes

You know what’s great about having quotes from America’s top life insurers all in one place? First, you saved a lot of time collecting them and didn’t have to go to a dozen different sites answering the same questions.Second, they’re all there side-by-side to compare. Cost, coverage, terms, available riders – everything you’d want to know on one screen.So look over the quotes and see what fits your family situation best. Decide what your family might need money for in the future – Mortgage? College? Funeral expenses? – and for how long. You can also get certain riders to customize your policy, like child riders that provide limited coverage for your kids.


While you're comparing quotes, an independent broker like PolicyGenius can help you make the best choice at no additional cost. And once you’ve settled on the perfect policy, you can apply!Applying for a life insurance policy usually takes less than 10 minutes, and should go smoothly provided you have information about your income (for example a tax return), health history, and hobbies to speed along the process.If filling out an application online isn’t your thing, you can be guided through the process over the phone with the help of a certified expert at PolicyGenius.

Take your paramedical exam

The insurer will need some more information on your current health because a) some people fudge the truth in an attempt to get a lower premium and b) you might not be aware of some issues, like high cholesterol, if you haven’t had a checkup in a while. That’s where the paramedical exam comes in.

Life insurance is surprisingly affordable, and the paramedical exam is no exception – in fact, it’s completely free! The insurer pays for it – you couldn’t even if you wanted to – and they’ll schedule it for the most convenient time for you at work or home.They might request some additional information from your doctor, and then it all goes off to the underwriter, who uses all of the information collected about you, from your family’s health history to your current health to your hobbies, to determine how risky you are to insure and place you into a classification. This rating will determine your final rate.

Get covered!

That’s it! After you review and sign your policy (and start paying your premiums, of course) it’ll go into effect. But you should know what your protection entails once your policy kicks in.While your policy will be valid once you start paying for it, during the first two years – the contestability period – the insurer can investigate the accuracy of your application.Did you tell them you weren’t an avid scuba diver but it turns out you actually are? They can deny your beneficiaries claim to the death benefit or lower the payout. This rarely happens, and as long as you didn't lie on your application you're probably in the clear, but just know that during the contestability period, some things aren’t a clean cut, "I died and now they’ll pay."That’s all there is to it! Applying for life insurance has been something of a pain in the past, but a lot of that came during the research and quotes phase. Finding the right information was difficult, and comparing policies and quotes from across insurers was inaccurate and a hassle.Getting accurate, instant life insurance quotes right away means cutting out a lot of the misinformation and the back and forth that causes so many headaches, which means buying life insurance today has never been easier.