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Frequently Asked Questions
What happens after I submit my request?
One of our friendly U.S.-based agents will contact you soon after your application request (typically within 1 business day).
Or, you can let us know in the comment section when it would be a good time for us to contact you. And of course, you can always call us.
Our Insurist Life agent will verify the information you’ve submitted and collect any additional information that may be necessary to complete the application. We don’t submit your application to the insurance company until you’ve officially signed it.
How long before my life insurance policy becomes active?
It depends on the policy. A no exam insurance policy can usually be put in force within 24 hours, and in some cases even sooner. For other types of policies, it might take a week or two. If a medical exam is required, it could take three to six weeks, depending on how quickly the insurance company can get your medical records. Our agent can give you an estimated timeline for approval, so be sure to ask any questions you may have about the process.
Can I change my mind after I submit my application?
Of course. The policy doesn’t go into full effect until you officially accept it. You can refuse the policy during what is called the “free look period,” which is usually the first 30 days. If you change your mind, call us or the insurance company and let us know. Know that you can lower the amount of your coverage, make the term shorter, or cancel your policy at any time while it’s in effect. But as long as you’ve been honest on the application, the insurance company can’t change the terms of your policy.
When do I have to pay?
You don’t have to pay anything until the policy has been issued and you’ve accepted it. The exact time frame depends on whether you’ve requested that the insurance company bill you or you’ve set up automatic payments from your bank account or credit card. Your agent can provide specific details.
Will applying for life insurance affect my credit score?
Not at all. We do a “soft inquiry,” so it won’t even show up on your credit report. Your credit rating will stay the same as it was before you applied.
Isn’t it less expensive to buy life insurance directly from a carrier?
No. The insurance company sets the price for the policy, and the price doesn’t change whether you buy directly from them or use an agent. The advantage of using Insurist is that we’re an independent agency, so we can shop at more than 60 companies to find you the best quality product for the lowest possible price. And there are downsides to buying directly from an insurance company. You’ll be dealing with an agent who works on behalf of the company, rather than you — which means you could end up paying a higher premium or have a greater chance of being declined. And of course, the insurance company’s agent won’t even try to get your application approved elsewhere.
What’s the difference between Insurist and an insurance company?
Insurist is an independent insurance agency. We don’t issue insurance policies or collect payments for premiums — that’s the job of the insurance company. We work as your agent to make the process as easy as possible and obtain the best coverage for your needs. Insurance companies like State Farm or Farmers Insurance can sell you life insurance, but they’ll only tell you about their products. We represent more than 60 different insurance companies, so we can shop around and find the coverage that’s best for you.
Do I pay anything to Insurist?
No. We’re compensated by the insurance company after you’ve been approved and have accepted the policy.