Get the free Final Expense New Business Faxed Application Cover Sheet

Application for Whole Life Insurance from American Continental Insurance Company Page 1 of 5 American Continental Insurance Company A Gen worth Financial Company 101 Continental Place Brentwood, TN

How to fill out final expense new business

How to Fill Out Final Expense New Business:

1. Start by gathering all necessary information, including the client's personal details, such as name, address, age, and contact information.
2. Determine the type and amount of coverage the client needs for their final expenses. This may include funeral costs, medical bills, outstanding debts, and other end-of-life expenses.
3. Conduct a thorough assessment of the client's health and medical history. This step often involves asking detailed questions and possibly requesting medical records or examinations, depending on the insurance company's requirements.
4. Assist the client in choosing the appropriate final expense insurance policy that aligns with their needs and budget. This may involve explaining the different policy options, coverage levels, premium amounts, and any additional benefits or riders.
5. Complete the application form accurately and thoroughly. Ensure that all required fields are filled out correctly, as any mistakes or omissions could delay the underwriting process.
6. Verify the client's identity and collect any necessary supporting documents, such as proof of age or income.
7. Review the application with the client to double-check all the provided information. This step helps minimize errors and ensures that the client understands the terms and conditions of the policy they are applying for.
8. Submit the completed application to the appropriate insurance company according to their submission guidelines. This may involve sending the application electronically or physically through mail, depending on the insurer's preference.
9. Follow up with the insurance company to ensure the application was received and is being processed. This step may involve contacting the underwriting department or insurance agent responsible for handling the application.
10. Keep the client informed throughout the underwriting process. This includes providing updates on the application's status, any additional information or documentation required, and the final decision made by the insurance company.
11. Once the application is approved and the policy is issued, review the terms and conditions with the client. Address any questions or concerns they may have regarding the coverage or policy details.
12. Collect the initial premium payment from the client and assist them in understanding the payment options available, such as monthly, quarterly, or annual payments.
13. Provide the client with all necessary policy documents, including the insurance policy contract, policy schedule, and any other relevant paperwork.
14. Maintain regular communication with the client to address any policy changes, updates, or additional coverage needs they may have in the future.

Who Needs Final Expense New Business?

1. Individuals who want to ensure that their final expenses, such as funeral costs, outstanding debts, and medical bills, are covered without burdening their loved ones financially.
2. Families who do not have substantial savings or adequate life insurance coverage to handle the various end-of-life expenses.
3. Elderly individuals or those with pre-existing medical conditions who may find it challenging to obtain traditional life insurance coverage.
4. People who wish to provide their loved ones with peace of mind by alleviating the financial burdens associated with their funeral and other final expenses.
5. Those who want a simple and affordable insurance option specifically designed to cover end-of-life costs.
6. Individuals who understand the importance of planning for their final expenses and do not want to leave the financial responsibility to their family members.

Note: It's always important to consult with a financial advisor or insurance professional to determine the specific needs and suitability of final expense insurance for each individual.

For pdfFiller’s FAQs

What is final expense new business?

Final expense new business refers to the process of submitting applications for insurance coverage for final expenses such as funeral and burial costs.

Who is required to file final expense new business?

Insurance agents and brokers are required to file final expense new business on behalf of their clients.

How to fill out final expense new business?

To fill out final expense new business, agents and brokers must gather personal information from the client, select the appropriate insurance coverage, and submit the application to the insurance company.

What is the purpose of final expense new business?

The purpose of final expense new business is to provide financial protection for families in the event of a loved one's death, specifically to cover funeral and burial expenses.

What information must be reported on final expense new business?

Final expense new business applications must include the client's personal information, medical history, desired coverage amount, and beneficiary information.

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