Life Insurance - how long should it take

[DizBelle]

How long should it take from the time you have the physical for life insurance for it to be activated?

 

[salmoneous]

It depends upon exactly what you are asking. If you are asking what the usual time is from taking the physical to hearing that your application has been approved, it usually takes between a couple days and a couple weeks. Longer time is needed on larger policies, or people with more complicated health conditions.

If you are asking how long it takes from the time of physical until you actually have life insurance coverage working for you, that's a slightly more complicated question. If that is what you are asking, I can go into more detail, but basically you have coverage from the moment you give somebody money - which can be even before the physical takes place.

 

[AllyandJack]

It took me over 6 months because I had oral surgery and they were waiting for certain records from my oral surgeon.

Then I got the shock of my life when my first month's charge was for 6 months of coverage. I almost used the policy right then and there! I was 26 (this was 4 years ago), healthy, non-smoking female, but the oral surgery caused them big concern.

 

[DizBelle]

Well, we had our physicals 5 weeks ago and our agent said that everything "look good" as far as what the results are. He said this about 3 weeks ago. Now we're waiting for him to ask us for money which he seems to be dragging his feet on. Is this normal?

 

[AllyandJack]

We have it automatically deducted.....so, one day, there was a load of money missing from my account. That was, apparently, the day they discovered that my oral surgery wasn't going to result in my early demise.

Call them up....light a fire under them.

 

[minkydog]

We went throught this recently when we upped our coverage. It took about 4wks to get the verdict--DH failed his, I passed mine.

Word of advice--get as much insurance as you can afford while you are young, because if you have a heart attack or cancer in your 40's you won't be able to get it then. DH was a very healthy man 3 yrs ago and was struck down by lung disease. Thankfully we have some insurance, but it is mostly through his work--and he has to keep working to keep in in effect. So if he gets sick enough to not be able to work, he's sunk. (He's on disability now) All we can do now is try to stay healthy and get as much coverage on ME as possible, because if I were to die, DH would have to pay for a housekeeper, sitter, and yardwork--he is not physically able to do it.