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PART II APPLICATION FOR VARIABLE LIFE INSURANCE FIRST INVESTORS LIFE INSURANCE COMPANY 110 Wall Street, New York, NY 10005 STATEMENTS MADE TO AUTHORIZED COMPANY AGENT 10. Within the last ten (10)

How to fill out application for variable life

How to fill out an application for variable life:

1. Gather necessary documents: Before filling out the application, make sure you have all the required documents handy. This may include proof of identity, income, and medical records.
2. Review the application form: Carefully read through the application form to understand the information required. Take note of any specific instructions or additional documents that may need to be attached.
3. Personal information: Start by providing your personal details such as your full name, address, contact information, and social security number. Ensure that you provide accurate and up-to-date information.
4. Beneficiary details: Specify the beneficiaries who will receive the death benefit in the event of your passing. Include their full names, relationship to you, and their contact information.
5. Health information: Fill out your medical history, including any pre-existing conditions, current medications, surgeries, or treatments. Be honest and accurate while providing this information, as it may affect your policy eligibility or premiums.
6. Financial information: Provide details about your income, assets, and liabilities. This information helps the insurance company assess your financial status and determine the coverage amount you can afford.
7. Investment choices: Variable life insurance policies have investment components. Indicate your investment preferences by selecting from the available investment options or fund choices provided by the insurance company. Consider your risk tolerance and long-term financial goals when making these selections.
8. Review and sign: Before submitting the application, carefully review all the information you have provided. Ensure that there are no errors or omissions. Once satisfied, sign the application form and date it.

Who needs an application for variable life?

1. Individuals seeking life insurance coverage: Anyone looking to protect their loved ones financially in the event of their death may need a variable life insurance policy. It can serve as a financial safety net for dependents, covering expenses like debts, funeral costs, education, and daily living expenses.
2. Those with long-term financial goals: Variable life insurance also serves as an investment vehicle. If you have long-term financial goals, such as saving for retirement or building wealth, you may consider a variable life insurance policy as it allows you to grow cash value over time.
3. Investors seeking potential tax advantages: Variable life insurance may offer certain tax advantages, such as tax-deferred growth on the cash value component of the policy. This can be advantageous for individuals looking for tax-efficient ways to grow their assets.
4. High net worth individuals: Variable life insurance can be an appealing option for high net worth individuals who have both investment and insurance needs. It allows them to potentially accumulate wealth while also providing protection for their loved ones.

Ultimately, determining the need for a variable life insurance application depends on individual circumstances, financial goals, and risk tolerance. It is advisable to consult with a financial advisor or insurance professional to evaluate your specific needs and options.

For pdfFiller’s FAQs

What is application for variable life?

Application for variable life is a form used to apply for a variable life insurance policy.

Who is required to file application for variable life?

Any individual or entity looking to purchase a variable life insurance policy is required to file an application for variable life.

How to fill out application for variable life?

You can fill out the application for variable life by providing all the necessary information requested on the form and submitting it to the insurance company.

What is the purpose of application for variable life?

The purpose of the application for variable life is to gather information about the applicant and their insurance needs in order to assess their eligibility for a variable life insurance policy.

What information must be reported on application for variable life?

The application for variable life typically requires information such as personal details, financial information, health history, beneficiaries, and desired coverage amounts.

How do I make changes in application for variable life?

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