Life Insurance Coverage Online
Simplifying Life Insurance Forms

When applying for life insurance coverage online or via the traditional means, the amount of documentation required can be overwhelming. The following are descriptions of some of the common life insurance policy documents and why they are needed for life insurance policies. All of the below forms are required to be completed in full, signed and dated for the most complete life insurance information.

Life Insurance Policy Application: This life insurance form is mandated to gather basic life insurance information such as contact information for the proposed insured, beneficiaries, and general medical questions. All questions are required to be completed. In addition, signatures of the client (proposed insured) and the life insurance policy owner's signatures (if different than the proposed insured) are required, even when you're applying for the life insurance coverage online.

HIPAA form: HIPAA stands for the Health Insurance Portability and Accountability Act. This form gives the life insurance company access to your medical records in order to more clearly identify any potential risk factors regarding your life insurance policy. This form is required at all times in order to proceed with the insurance process, even when you apply for life insurance coverage online.

Accelerated Death Benefit form: This life insurance information form states if you should become terminally ill and you are in financial need to pay medical bills, you can essentially collect on your life insurance policy while you are alive. The amount you collect on your life insurance policy will be treated as a loan and will be deducted from the final payment that will be made to your family upon your death. By signing this form, you are only acknowledging that you have this option, in case you need it. This form is required to be signed by the proposed insured and the owner, even when you're applying for life insurance coverage online.

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HIV form: This form states that you are going to be tested for HIV and that a positive result may result in a higher premium or termination of the policy. This life insurance form is required to be completed, even when you're applying for life insurance coverage online.

Electronic Fund Transfer form or Pre-authorized withdrawal forms: If paying monthly, this form is required to be completed. By signing this form, you are agreeing that a monthly payment will be direct debited out of your checking (sometimes saving account depending on the insurance company) account. In addition to this form being completed, a voided check (or deposit slip) is also necessary. Signatures of the proposed insured and account owner are required. Direct debit is the only method for paying monthly. With all other payment modes you will be mailed a direct bill.

Replacement forms: These life insurance information forms are required by law to give the replacing company a chance to retain your business. All states mandate a form if you are replacing a life insurance policy. However, replacement forms are required not only when you are replacing your life insurance policy but also in some cases even if you just have existing insurance. These states are referred to NAIC states. The following are NAIC (National Association of Insurance Commissioners) states as of 12/1/2006: Alabama, Arizona, Colorado, Hawaii, Iowa, Kentucky, Louisiana, Maryland, Mississippi, Montana, North Carolina, New Hampshire, New Jersey, New Mexico, Oregon, Rhode Island, Utah, Vermont, and West Virginia. In these states, it is only necessary to sign and date the replacement form if you have existing insurance and are NOT replacing your life insurance policy. If you are replacing in these states, all life insurance information must be completed. This is true even for online life insurance.

Foreign Travel forms: For anyone who plans to travel or has recently traveled outside the United States, this life insurance information form is required. This form varies in detail from insurance company to insurance company. For some insurance companies they do not require this form if you are traveling for pleasure for less than a specified time frame. Please talk to your agent about past and future travel plans outside of the United States. Your life insurance agent can answer your questions and let you know if this form is required, or check on the company website if you're applying for life insurance coverage online.

Foreign Resident Form: If you are not a citizen of the United States, this form is required. Often times you will be required to list the citizenship of your immediate family members in and outside the U.S as well. Almost all insurance companies require you to have a green card in order to apply for life insurance. Copies of the green card are also required to process your application with most insurance companies. If you are not a United States citizen you can discuss your life insurance options with your agent.

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Drug and Alcohol questionnaires: These forms are required if the proposed insured has been treated for alcohol and/or drug abuse. In addition drug use within the past 10 years also necessitates this form. It is important to list all attending physicians and treatment centers (if applicable) on these forms where required.

Aviation questionnaires: Aviation questionnaires are required when the proposed insured participates in flying aircrafts and/or other similar activities. Based on the type of flying and a number of additional details your premium amount may be affected. Your life insurance agent can review your options and get you the policy that best fits your needs. Check the website if you're applying for life insurance coverage online.

Avocation questionnaires: People who participate in potentially dangerous activities, such as mountaineering, motor racing, scuba diving, hang gliding, etc. must complete this life insurance form. The form varies by insurance company but in general it states the frequency of participation and specific information based on the sport you participate in. Your life insurance agent can review your options and get you the policy that best fits your needs. Check the website if you're applying for life insurance coverage online.

In order to ensure your life insurance application is processed as efficiently as possible, please complete all forms in their entirety. If any life insurance information is not complete, this will delay the processing of your application. Please call your agent or customer service representative with any questions regarding the forms. Check the website if you're applying for life insurance coverage online.