Accepting the offer and Finalizing life insurance policy

By James Tobin, CFP®

Critical Takeaways

  • Note the draft day for the policy payment
  • store the policy in a safe place where it is accessible 
  • Consider notifying beneficiaries of where to locate policy

Expert Review Of Accepting The Offer And Finalizing  Life Insurance Policy

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Reviewed by

Jim Tobin, CFP®

Why you can trust this review

At Workers Bequest, we value our editorial independence. We keep our reviews strictly factual so you can use them to make informed decisions. Life insurance carriers referred to on this site do not approve reviews. 

You have applied for the right amount of life insurance at a fair price, you submitted the application, took the medical exam and got a favorable report from the underwriting department. Congratulations, you are almost home.

Reviewing And Accepting The Offer

All that remains are what are known as delivery requirements. This usually is limited to an electric signature. A check, if you did not submit payment with the application , and signatures on any amendments to the policy. This should take no more than a few minutes.

The big takeaways for the client are to familiarize themselves with the draft day for payment if paying monthly, and to store the policy in a safe place where it will be readily accessible in the event it is needed. It is a good practice to let a beneficiary know where to access the policy.

Congratulations! You now the the answer to the question "?How Do I Finalize a Life Insurance Policy?" You have gone through the steps to protect the ones you love. Hopefully with the guidance of the help desk it was not to painful.

Next Step

Did you just think "Next step? I thought I was done"? If so I can't blame you. Actually the next step is simply to make a calendar note to schedule an annual review of your life insurance.

If you have any questions about this policy or any other, feel free to contact the help desk at (203) 424-1100 or contact us. 

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