Empower Blog

three generations of family sitting around the piano
March 29, 2022

The Process of Protecting Your Family with Life Insurance

Do you have a plan in place to protect your family’s financial future? Having life insurance is a great way to be able to continue to provide for your family should something happen to you. You may have the perception that the process of getting life insurance is too complicated or too expensive – but that is not the case. As with most things, today’s technology has streamlined the process to make it much easier, faster, and well worth your time.

It is important to have a plan in place to ensure your family’s financial security. Here is what you can expect when going through the steps of securing life insurance.

Determine Your Life Insurance Needs

Before applying for life insurance coverage, it is important to think about how much coverage you need, how much you can afford, and the type of insurance that would work best for you. At CommunityAmerica, we have tools in place to help you with decisions. You can use our Life Insurance calculator to help determine how much coverage you need, or speak with one our Financial Advisors or the CommunityAmerica Insurance Agency, to help guide you through the conversation.

Get a Quote

Once you’ve determined how much and the type of coverage you need, it’s important to shop around with multiple insurance companies to compare coverage options and rates and ensure you are getting the best bang for your buck. While you can do this on your own, our Agents are here to help. We work with multiple national carriers and are here to help find the right fit for you.

Submit an Application

Once you have found the life insurance carrier that is right for your situation, it’s time to apply. The application process can typically be completed online or by filling out a physical form. As we stated before, our Agents are here if you need assistance or have questions when filling out your application. Here is a list of things you can expect to be asked on your application:

  • Basic contact information
  • Social Security Number
  • Driver’s License number
  • Date of birth
  • Gender
  • Marital status
  • Occupation
  • Financial information (e.g., salary, net worth)
  • Health and medical information (e.g., height, weight, medical conditions, prescriptions, family history)
  • Nicotine or Tobacco usage information
  • Beneficiary(s) name
  • Beneficiary(s) birthday
  • Beneficiary(s) social security number

It’s important to be truthful about your entire medical history, lifestyle choices, and personal information. This will help your insurance company find the right plan for you and help your loved ones avoid complications later on. If it is found that you didn’t tell the truth on your application, or didn’t disclose all medical history, your insurance company can deny your application or deny your family a payout.

Interview with the Carrier and Possible Medical Exam

You will need to complete an interview with the insurance company. This interview will most likely be completed by phone and shouldn’t take more than thirty minutes of your time. The representative will need to discuss your medical background and your lifestyle choices, and the results of this interview may require a medical exam – depending on the carrier and your medical history.

The Decision

The insurance company will compile all of the information from your application, interview, medical records, and possible medical exam and provide you with a proposal. This process can take anywhere from 48 hours to 6-8 weeks depending on medical background and the process of obtaining your medical records. You’ll have the option to approve, deny, or request changes to the proposal. If you choose to approve the decision, congratulations – you are all good to go! If you deny their offer, you may need to start the process again or complete another interview and underwriting process. If you’d like an objective opinion before making your decision or requesting changes to the offer, we are happy to review the proposal with you.

While there are several steps to securing life insurance, it’s well worth your time today to secure your family’s future tomorrow. We’re happy to help you along the way by simply answering your initial questions or guiding you through the entire process.


Get Started

Was This Article Helpful?
0 of 1 people found this article helpful
About the Author
CommunityAmerica Author
CommunityAmerica Insurance Agency

We've Got You Covered

The CommunityAmerica Insurance Agency is dedicated to helping you protect what matters most, with insurance offerings including auto, home, life and much more.

Life Insurance products are offered by Copper Financial Network, LLC (“Copper Financial”), in its capacity as an insurance agency. Other insurance products may be sold through CommunityAmerica Insurance Agency, LLC, a wholly owned subsidiary of CommunityAmerica CUSO One, LLC and a licensed insurance agency in Missouri and Kansas. Copper Financial Insurance Advisors are only authorized to offer non-securities insurance products. Copper Financial is a wholly-owned subsidiary of CommunityAmerica Credit Union.

Investment and insurance products, including annuities:

Are Not Deposits

Are Not NCUA or otherwise Federally Insured

Are Not Credit Union Guaranteed

May Lose Value