Buying Term Life Insurance, Part V (Epilogue)

Well, our term life insurance adventure has now come to an end… We just received word from IntelliQuote that our applications were approved, and that we now just need to sendd them a check so they can put our policies in force. The timing couldn’t be better, as our current term life policies are due to be renewed on November 1. Anyway, I thought it would be worth putting together a quick recap here…

We initiated our shopping expedition by poking around the big term life insurance web sites, and we ultimately decided to go with 20-year level term policies from Lincoln National Life that we found through IntelliQuote. We submitted our applications online on August 31, and we heard back from IntelliQuote within twelve hours. We then received our application packets in the mail just three days later. Next up was the medical exam. This ended up taking place 15 days after we originally submitted our application, although that’s partly my fault, as I had some work/travel-related scheduling difficulties. Since that point, we’ve just been waiting for the underwriting process to work its way to completion. All told, it took five and a half weeks from our initial contact to having our applications approved. Not too bad, and we even got a free medical exam, complete with detailed blood work, out of the deal.

Read Part I of Buying Term Life Insurance
Read Part II of Buying Term Life Insurance
Read Part III of Buying Term Life Insurance
Read Part IV of Buying Term Life Insurance
You are currently reading Part V

Published on October 12th, 2005 - One Comment
Filed under: Insurance
email this article email this article - bookmark it

About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

Related articles...

» Buying Life Insurance (Again), Update #3
» Buying Term Life Insurance, Part II
» Buying Term Life Insurance, Part IV
» One Year Ago This Week (October 8th – October 14th)
» Buying Term Life Insurance
» Buying Term Life Insurance, Part III
» Buying Term Life Insurance (Again), Update #4
» From the Archives (October 7th – October 13th)

Was this article useful? Please sign up to receive our content via e-mail:

You will receive only the daily updates, and can unsubscribe at anytime.

One Response to “Buying Term Life Insurance, Part V (Epilogue)”

  1. 1
    Easton Ellsworth Says:

    Although it took several weeks, I’m glad you finally got term life insurance. Having helped write a website about life insurance, I know a little about the hoops people often have to jump through and the hassles that can come with getting life insurance. But, all told, I think it’s well worth it to have good life coverage.

Leave a Reply

  1. < $10,000

Featured Credit Cards

  • Chase FreedomSM Card

    3% cash back offers in popular categories like gas, home improvement & department stores. Full 1% cash back on all else. Up to 20% addl. cash back on online shopping through Chase. 0% Intro APR and No Annual Fee. See terms.

  • Blue® from American Express

    0% Intro APR on purchases and no annual fee. Earn Membership Rewards(R) points for your everyday purchases. Express approval - get a decision in less than 60 seconds. See terms.

Signup for free Newsletter

Disclaimer...

This website may receive financial compensation from the companies mentioned on its pages. The terms of third-party offers referenced on this website are also subject to change without notice. While we strive to maintain timely and accurate information, offer details may be out of date. Visitors should thus verify the terms of any such offers prior to participating in them. Please see our terms of service for additional details.