insurance policy for life

How to Get an Insurance Policy for Life

Life insurance is a contract between you and an insurance company or carrier. The carrier pays out a sum of money to your beneficiaries in the event of your death. Life insurance can provide financial security and peace of mind for you and your loved ones. But how do you get an insurance policy for life?

Here are some steps to follow:

  • Call an agent. The first step is to contact a licensed life insurance agent to help you find the best policy for your needs and budget. Here with Castillo Financial Solutions, you work with an experienced life insurance agent. We shop around for the best rates with over 30 companies.  Your agent will explain the different types of life insurance, such as term, whole, universal, or variable. We help you compare quotes and plan features from multiple companies. We can help you get a policy over a phone call, video call, or in-person (if we are local), whichever is your personal preference. 
  • Discuss your health. The next step is to discuss your health and medical history with your agent. Your health (as well as your age) is one of the main factors that affect what plan you qualify for and costs for life insurance. Some policies require a medical exam, however, most of our plans offer coverage with no medical exam. Some are guaranteed issue without any health questions or tests. We will help you understand the plans so you choose the best option for your situation.
  • Decide on the amount of coverage.  How much life insurance coverage you need depends on various factors, such as your income, expenses, debts, assets, family size, and future goals. A general rule of thumb is to multiply your annual income by 10 to 15 times. However, your budget will most likely be the determining factor for the amount of coverage you will be able to obtain.
  • Fill out a health questionnaire. Once we’ve decided which plan works best for your family, our agent will assist you to fill out a health questionnaire and send it to the insurance company. This is a form that asks about your personal information, medical history, lifestyle habits, family history, and other relevant details. The insurance company will use this information to evaluate your risk level and determine your premium and policy terms.
  • Wait for approval. Once submitted, we wait for the insurance company to approve or decline your application. This can take anywhere from a few days to a few weeks, depending on the type of policy and the amount of coverage you applied for. Some of the plans have instant approval, so you will know right away if your protection is approved or not. If you are approved, you will receive a policy document that outlines the benefits, exclusions, and conditions of your contract. You will also have the opportunity to discuss the features of the plan with your agent. Every plan comes with a “free look” period, which is about 30 days during which you can look over the plan, ask questions to your agent and make any adjustments to coverage or even cancel the policy for 100% money back. 
  • Pay monthly premiums. You must pay your premiums to keep your policy active. Your premium is the amount of money you pay to the insurance company in exchange for the coverage they provide. Your premium may vary depending on the type of policy, the amount of coverage, your age, your health, and other factors. You can choose to pay your premium monthly, quarterly, semi-annually, or annually.
  • Keep in touch with your agent. The final step is to keep in touch with your agent and review your policy periodically. Your life insurance needs may change over time due to life events such as marriage, divorce, childbirth, retirement, or inheritance. Your agent can help you update your policy accordingly and ensure that it meets your current and future needs.
  • Send referrals to your agent. A bonus step is to send referrals to your agent if you are satisfied with their service and expertise. By referring your friends and family members who are looking for life insurance, you can help them get the same benefits that you enjoy and also show your appreciation to your agent.


By following these steps and working closely with a trusted insurance agent, you can make informed decisions to protect your family’s financial future effectively. Don’t delay; start the journey toward financial security today.

Please call today at 469-431-0334 to talk to one of our specialists to see if we can help you. Or click on the button below to get a quote from one of our agents.