Even if you apply for life insurance online, you’ll still have to complete a quick phone call with a licensed agent. The purpose of this phone call is to verify that the information you provided on your application is correct and to ensure that you’re getting the right policy for your needs.
On the call, the agent can recommend which insurance company is best for you and answer any questions you may have about getting life insurance.
Why do you need a life insurance phone interview?
A phone call with an insurance agent is legally required. The state insurance boards that regulate the sale of insurance in each state require a phone interview to be completed as part of the application.
The purposes of the interview is to:
Verify your identity and the information you provide.
Help the insurer assess your risk and complete the underwriting process.
Confirm that the coverage you’re applying for fits your needs.
Give you the opportunity to ask any questions you may have about the process.
Once you get you application started online with Policygenius, one of our licensed agents will give you a call to confirm your information and help you apply for the coverage you need.
How to prepare for your life insurance phone interview
The easiest way to get through your phone screening quickly is to have all the information you need at the ready. The call usually takes between 15 and 30 minutes, so it won’t take up much of your day. Plus, if you know what to expect and come prepared, it’ll be even faster.
Identification and financial information
The agent will need these details to verify your identity and get a sense of how much coverage you need.
Driver’s license number
Citizenship or immigration-status documentation, if you are a non-U.S. citizen
Financial information, including your income and a rough estimate of your net worth
Policy numbers and face values of other life insurance policies, if you have them
Health history and medical information
The insurer will use this information to assess your insurance risk and set your rates.
Dates of surgeries, diagnoses, procedures, and treatments you’ve had, especially in the last 10 years
Medication names and dosages for your current prescriptions
Your current weight and a record of any fluctuations of more than 10 pounds in the past year
Name, addresses, and phone numbers for your current doctors and specialists, if applicable
Details about your family’s health history, including major diagnoses and causes of death, if applicable
Your habits and hobbies
These details will also determine how risky you are to insure.
Information about recent or upcoming international travel
What kinds of questions are you asked during the phone interview?
1. The interview will start with verification of some basic personal and financial information, including your name, age, date of birth, height and weight, annual income, and how much coverage you’re looking for.
2. Next, you’ll answer additional questions about your health and habits, including your and your family’s health history.
Questions might include:
Your medical history information, including diagnoses, treatments, procedures, and any prescription drugs
Your family’s health history, to see if any hereditary diseases might play a role in your future health
3. The agent will then ask you about any dangerous hobbies you partake in, such as aviation, racing, scuba diving, mountain climbing, skydiving, or hang gliding.
4. You'll also answer questions about your job, assets, and financial obligations. This will help your agent get an idea of why you’re applying for life insurance and whether the amount you’re applying for makes sense for your financial situation.
For example, if you’re applying for a $1 million death benefit, but you’re unemployed and have no assets, the life insurance company will want to learn more.
Be as thorough and accurate in your answers. The more detail you provide, the easier it will be for the insurer to review your case and approve your application.
Everything you say in the interview is confidential (read the HIPAA laws for more detail). There’s no need to fear your personal information will be leaked or sold.
Choose your beneficiaries ahead of time. These are the people who will receive your payout if you die. Your agent will likely ask for their name, date of birth, and relationship to you to put down on your application.
What kinds of questions should you ask the life insurance agent?
Applying for life insurance for the first time can be daunting, but you can take the phone interview with your agent as an opportunity to learn more about your coverage.
What benefits are guaranteed with my policy? Make sure you understand the type, length, and amount of coverage you’re getting, and how it works.
How much will I pay for my policy? Your agent will explain how much your premiums will be and how you’ll have to pay for them.
When does my coverage start? Your policy goes into effect usually after the insurer reviews your application and you accept the offer they make. Depending on the company, this can happen the same day you apply or several weeks later. Your agent will be able to tell you exactly when your coverage starts.