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Guest
Guest
Hello,
Is there an average period of time one should expect to elapse from application of a life insurance policy to receiving it?
I submitted applications. The insurance company cashed the check on January 5. Therefore, they have had the applications since at least January 4. Here we are on the 23rd, 19 days later, and have not received a policy.
The children are in perfect health. The underwriting review should probably have taken 15 minutes (if the person was doing it at a leisurely pace and talking on the phone to her mother). The company is the same company that we got our WL 10 pay from. Since we just finished paying the 10 pay off, we got them VUL's.
The reasons I am getting so anxious, well, upon application one is excited to get the policy (imagine yourself mail ordering something) and constantly looking forward to the mail. I guess I cannot explain it, best I can say, is that it is turning into aggravation/frustration/annoyance. When I finally get it, it will not be like a cherished item just received, but an attitude of "it is about time;" the luster will have worn off.
There is one other thing. The only reason we went with this company is out of loyalty to our insurance agent. He is our PC agent. We bought our WL 10 pay from him. When the 10 pay was paid off, he called to "congratulate" us. Naturally, I asked him about other policies to include UL's and VUL's. I probably spent 45 minutes talking to him on the phone (he called me at work so I was watching my time, I know for a fact I did not spend more than an hour). He e-mailed illustrations. Fine. He spent time with me, he cannnot inventory his time or ever recoup it. I figured I owed it to him, plus I lead him on that we were interested (which we were). So I figured I owed him out of decency.
So, I do not know if this is an unreasonable amount of time. I know I am fast losing interest (especially after reading this board and realizing that there are far superior products. James always talks about LTC and CI riders, Stibroker about his indexed UL). Airborne1 has made some claims about knowing some great companies where one can reduce the insurance to $1,000 and getting interest free loans after a certain amount of time AND no cancellation penalties after a year. When I say I am losing interest, not in getting it, but in getting this particular product when I am sure there are better out there.
And yes, I did call my agent (captive) up, and he did not in any way think the amount of time unreasonable - - in fact he acted like it was quite normal.
Thanks.
Is there an average period of time one should expect to elapse from application of a life insurance policy to receiving it?
I submitted applications. The insurance company cashed the check on January 5. Therefore, they have had the applications since at least January 4. Here we are on the 23rd, 19 days later, and have not received a policy.
The children are in perfect health. The underwriting review should probably have taken 15 minutes (if the person was doing it at a leisurely pace and talking on the phone to her mother). The company is the same company that we got our WL 10 pay from. Since we just finished paying the 10 pay off, we got them VUL's.
The reasons I am getting so anxious, well, upon application one is excited to get the policy (imagine yourself mail ordering something) and constantly looking forward to the mail. I guess I cannot explain it, best I can say, is that it is turning into aggravation/frustration/annoyance. When I finally get it, it will not be like a cherished item just received, but an attitude of "it is about time;" the luster will have worn off.
There is one other thing. The only reason we went with this company is out of loyalty to our insurance agent. He is our PC agent. We bought our WL 10 pay from him. When the 10 pay was paid off, he called to "congratulate" us. Naturally, I asked him about other policies to include UL's and VUL's. I probably spent 45 minutes talking to him on the phone (he called me at work so I was watching my time, I know for a fact I did not spend more than an hour). He e-mailed illustrations. Fine. He spent time with me, he cannnot inventory his time or ever recoup it. I figured I owed it to him, plus I lead him on that we were interested (which we were). So I figured I owed him out of decency.
So, I do not know if this is an unreasonable amount of time. I know I am fast losing interest (especially after reading this board and realizing that there are far superior products. James always talks about LTC and CI riders, Stibroker about his indexed UL). Airborne1 has made some claims about knowing some great companies where one can reduce the insurance to $1,000 and getting interest free loans after a certain amount of time AND no cancellation penalties after a year. When I say I am losing interest, not in getting it, but in getting this particular product when I am sure there are better out there.
And yes, I did call my agent (captive) up, and he did not in any way think the amount of time unreasonable - - in fact he acted like it was quite normal.
Thanks.
