Understanding the Life Insurance Application Process
How Our Standard Application Process Works
STEP 1: Complete the Application (approximately 20 minutes)
A health review is done when you first apply for insurance or if you are choosing to increase your coverage. The way a life insurance carrier gets to know you is called medical underwriting. The average time from the receipt of your application to the receipt of your insurance certificate depends on how quickly the underwriter can obtain your necessary medical information and, if needed, financial documents to assess your application.
STEP 2: Potential Lab Work
A representative will arrange for a convenient time and location for lab work. Prepare for the visit by having your government-issued photo identification available. If possible, for the 12 hours prior to the appointment, avoid strenuous exercise, limit salt and high cholesterol food, refrain from alcohol intake, limit caffeine and nicotine consumption, and drink a glass of water just before the appointment.
STEP 3: Attending Physician’s Statement
To complete the underwriting assessment of your application, further medical information regarding your health history may be requested from your physician. In some cases, a specialist report may also be needed. This will be arranged with your convenience in mind and at no cost to you.
STEP 4: Other Requirements
Based on your medical history or the amount of insurance you are applying for, you will be notified if any additional information is needed to assess your application. Arrange for the completion of any additional requirements as soon as possible.
STEP 5: NYL Underwriter Decision
Once you’ve provided the necessary details, New York Life will make the determination if you can be approved.
STEP 6: WAEPA Approval/Notification to Member
WAEPA will send notification of your approval via email and advise of initial premium payment. If you did not name a beneficiary when you applied, be sure to complete the Change of Beneficiary form included in your New Member Packet.
Life Insurance Application and Underwriting Videos
Online Application Tutorial
After Applying
Medical Underwriting
Ready to Apply?
Take the first step towards helping to secure your family’s future.
QUESTIONS?
We’re Here to Help
If you’re unsure of your life insurance options or coverage needs, or need help with the application process, our dedicated team of specialists is available to help you.
Give Us a Call
Our team is available at (800) 368-3484, Monday through Thursday 8:30 a.m. – 6:30 p.m. or Friday 8:30 a.m. – 5 p.m. ET.
Submit a Request
Fill out our contact us form with your request and we’ll get back to you.
WAEPA IS THE NAME FEDS HAVE TRUSTED SINCE 1943
Reliably Backed by New York Life Insurance Company
Have More Questions?
How long does the application / purchase process take start to finish?
The average time from the receipt of your application to receipt of your insurance certificate is 6 to 8 weeks.
How long does the application take to complete?
The application may be completed in as little as 20 minutes. The time to complete the application is based largely on your personal medical history.
What information do I need to have available?
You should have your social security number, medical history, physician information, payment information (banking or credit card), current contact info (mailing, email address & phone), and the name of the Federal agency you are currently employed with (or are retired from).
Can I save my application and come back to it?
You can save an incomplete application for up to 10 days if you create a login, but the application will close after 10 days. However, once you are at the DocuSign signature portion of the application, you cannot go back to the beginning. Please note that the password you set cannot be retrieved or reset.
What happens when I finish my application?
You will receive an email including a confirmation number once the application is complete. If additional information is required, you will be contacted by a WAEPA team member or New York Life partner organization.
How can I check on the status of my application?
Please contact WAEPA’s Member Services team directly at (800) 368-3484. Our hours of operation are Monday through Thursday from 8:30 a.m. – 6:30 p.m. or Friday from 8:30 a.m. – 5:00 p.m. ET.
What is medical underwriting?
After you submit an application, underwriting begins. Underwriting is the process life insurance companies use to determine whether they’re able to offer life insurance coverage to applicants, and the premiums they charge. Note that WAEPA’s premium rates are set for our entire membership group, based on five-year age bands.
What factors are considered by underwriters?
There are a variety of factors (which can vary by state) underwriters consider when determining your level of risk, including your:
- Age
- Gender
- Tobacco and alcohol use
- Personal health situation and medical history
- Family health history
- Driving record
- Criminal record
- Previous and concurrent applications for life insurance
- Foreign travel
- Occupation
- Hobbies
How will I be notified when the underwriter makes their decision?
How you are notified depends on whether your application is approved or declined.
What happens if I am approved?
If you are approved, a representative from WAEPA’s Member Services team will contact you email. If we’ve already received your banking or credit card information, your initial payment will be processed within five business days. If we don’t have your payment information, you will receive a request during your initial quarterly premium.
What happens if I am declined?
If you are declined, WAEPA will notify you via email. New York Life will follow-up with a letter including the reason your application was declined.
What happens if my application is approved as is?
If your application is approved as is, then no further action is required.
What happens if my application is approved, but with changes?
If your application is approved with changes, you will be contact by a WAEPA Member Services representative.
When do I receive a Certificate of Insurance?
You will be mailed a Certificate of Insurance if your application is approved, after the initial premium payment is received and coverage is issued.