The Application Proccess

Are you interested in life insurance however, are unclear how the application process works?

How does the application process work?

In 90% of cases, a medical exam will NOT be required. (Medical exams are only utilized in some cases, usually when a lot of money is involved). You might be asking yourself "How is that possible?" First your agent will ask you a series of medical questions. Then, your Social Security number is used to validate the answers that you have given to the life insurance company regarding your medical and criminal records. Upon death, your family will also need to provide your death certificate, and the social security numbers must match.

A Social Security Number is used in an insurance application for the following:

To confirm your identity and prevent fraud
- Insurance companies need to make sure you are who you say you are.
To check the MIB (the Medical Information Bureau)
- The MIB is a cost-effective way to weed out dishonest applicants — like those who misrepresented themselves to another life insurance company. The MIB uses SS numbers to track this information.
To check with any prescription drug databases in your state
- It’s not uncommon for an applicant to underestimate how a previous or managed health condition can affect the risk profile that the insurer uses to price a policy. Checking a prescription drug database is a quick way for the insurer to look for this sort of data that an applicant might honestly forget to mention.
To check your criminal record
- The insurer will use your SSN to check whether you have a criminal record in your past, which could affect the risk profile.
To verify your identity when you die
- The life insurance company will require your death certificate in the event of your passing to compare to your life insurance policy in order to pay out the policy to your family. The SS numbers must match.

Reminder: Your SS number is needed for health insurance, car insurance, and homeowners insurance; life insurance is no exception.