Obtaining term life insurance is simple
1. Select your coverage
Choose a policy that is right for you. Virtual Insurance Solutions offers a range of coverage options, with the best Insurance Companies, so we can personalize your coverage to fit your needs.
2. Make Application
After you select your plan, you apply for coverage. Our application can be completed online in minutes. We only ask what we need to know so your policy can be appropriately priced.
Once your application is submitted, the information is processed to provide you a quick (sometimes instant) decision on coverage eligibility and your rate. If approved, you can activate your coverage immediately.
3. Take a medical exam (if needed)
We do not require medical exams unless absolutely necessary. We designed our process to reduce the number of extra steps like blood work, doctor visits, and meetings with agents. However, some people may still be required to take a medical exam to finalize their term life insurance coverage. If required, the exam is always free.
4. Sign up for a policy
Once you are approved, you will sign a contract with the insurer. Your contract specifies the terms and conditions of your coverage and the premiums you will pay.
5. Pay your premiums
You pay your policy’s premiums on time monthly, twice a year or annually—as specified in your contract. Your life insurance policy becomes active as soon as you make your first premium payment. If you stop paying your premiums, the policy will lapse. If the policy lapses, it is no longer active (or “in-force”), and no death benefit will be paid.
6. File a claim for the death benefit
In the event of your death, your designated beneficiary can file a claim with the insurance carrier. The carrier will work with your beneficiary during the claims process to facilitate the payment of the death benefit proceeds.