Remember how nervous you were at your first job interview?
Sitting in the waiting area, sweaty palmed, trying your best to keep your breath under control.
Waiting for the “so, where can you see yourself in 5 years?” question, wishing you had the balls to answer “a mirror” but knowing right well you’ll verbal diarrhoea some shite about learning and goals and career path.
That application process was pretty stressful, thankfully applying for life insurance is a breeze.
Here’s what it looks like:
Applying for life insurance online is a simple 3 step process.
Bang in your details (date of birth, smoker / non smoker) and the amount of cover you need and hey presto, we’ll magically compare the market and offer you the best quotes from all 6 life insurers:
Click on the “why insurer x” and the “Key Features” links to learn more about each insurer. Scroll to the bottom of the quotes page and you’ll find links to tables comparing the benefits of each insurer.
If you still can’t decide, no worries, give me a call on 05793 20836 and we can go through your options in detail.
Happy to proceed? Go ahead and click that beautiful blue-y “Apply Online” button
Because everything is so much easier online, you can complete your full application form online – no need for awkward telephone conversations with complete strangers about your various lumps and bumps. Who needs that?
Online applications are perfect if you’re like me and are allergic to answering calls from unknown numbers – don’t you just know it’s someone you don’t want to talk to especially if you get a call from the unknown…on a Monday…after a heavy weekend 😬
Online applications are also handy if you don’t have time to find paper for the printer, wait for it to chug-chug print a tedious 20 page document (think of the trees maaaaan), realise you’re out of ink half way through, replace the ink, find an envelope, find a stamp, go out in the rain, find a letter box and post it back. What a palaver.
Once you hit the submit button, we take over.
We’ll review your application form to make sure it’s 100% before we send it on to the underwriters. If you have told us about health issues, we’ll get back to you over email to get more information so we can present your application in the best light so you get the best price with the least amount of hassle.
At this stage I may stick my nose in and tell you to apply to another insurer because
Once we’re both happy with your choice of insurer, we’ll send you declarations to sign digitally. This gives the insurer permission to contact your GP if required.
Finally we submit your application to your chosen insurer and the dudes in the dungeon AKA “the underwriters” take over.
And that is that as the fella says.
Now let’s roll back a little and talk about the actual application form in more detail:
The application has 3 main sections:
To complete your application quickly and accurately, have the following information handy:
If you can’t complete any part of the application don′t worry – you can save it and return later (we’ll email you a link back to the partially completed form)
15 minutes (maybe longer for a joint application). It depends on your health, if you have to disclose health issues, it’ll take longer. But you’re looking at maximum 30 minutes. MAX
Once we receive your application, we’ll keep you bang up-to-date on its progress. You’ll get email updates every step of the way – from the time we receive your signed documents to when your application has been accepted. And if your insurer requests further information we’ll let you know immediately l so you can chase your GP and keep things moving along nicely.
Some GPs are on the ball and send back the necessaries quick as a wink, others need a nudge, while unfortunately some need a right good kick up the arse / poke with a cattle prod before they react.
When I discuss your case with my underwriters before you apply, I do so strictly on a no-name basis.
You don’t start paying for your policy until you have given us the go ahead to issue your policy.
Once your life insurance application has passed the underwriting stage, the insurer will offer you acceptance terms i.e a letter detailing how much you will pay for your cover. If you’re happy to proceed on those terms, the insurer will issue your policy. You’re covered from the date your policy issues until the expiry date of your policy.
Some of our insurers offer accidental death benefit giving you free cover from the date the insurer receives your fully completed application form.
One month’s free cover is also available with some of our insurers so you are covered from the date your policy issues but you don’t pay a red cent for 30 days. Not too shabby.
For mortgage protection, we will issue your documents well in advance of your mortgage start date so your lender will have plenty of time to assign your policy – ignore what they say about the life insurance assignment process taking ages if you use a broker, it’s doesn’t – click that link to find out more.
Don’t worry, if you’re not happy with your cover, you can cancel at any time without penalty. In fact if you cancel within the first days cooling off period, you get your money back.
Hell yeah, and you should if you can get a better deal. If you were sold a policy by your bank, you’re more than likely paying through the nose. Don’t be a mug. SWITCH.
A-haw, you can buy as many life insurance policies as you like assuming you have the income to support the cover, like you can’t buy €10m cover if you earn €20k but you can buy €10m cover if you earn €1m.
Here’s a blog I wrote on the pros and cons of taking out multiple life insurance policies.
Right, that’s enough, it’s a fairly detailed post. I could go on and on and on
but I think that’s enough to get started.
If you have any questions about applying for life insurance that I haven’t answered, please let me know. It’s as easy as forgetting your interviewers name to get in touch.
Hope you found this helpful.
lion.ie | making life insurance easier
057 93 20836
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As Ireland's leading life insurance broker, we specialise in comparing the rates and policies from the top five Irish life insurance providers and offering the very best value quotes to suit the individual needs of our clients. Our expertise lies in finding a suitable insurance plan for those with specific needs, be it a particular illness, occupation or claim history, we've got you covered in every sense!