How To Set Up Life Insurance? 
It all starts with a conversation with a life insurance professional who can explain the process , educate you on what 's possible , engage in fact finding to perform a needs analysis to customize a plan for you and your family . Normally , a formal application for life insurance , which answers questions the insurer needs from you is a key step and consent is given with signatures by the owner and proposed insured . In it you indicate policy owner , insured -LRB- who may also be the owner -RRB- , beneficiary and other instructions . A paramedical exam will be scheduled where vitals , blood and urine and medical history will be collected from you . The life insurer uses all the information collected to underwrite the policy . An offer will be made through the life insurance professional which you may accept . A policy is delivered to you after payment is made -LRB- sometimes not on delivery but at time of application -RRB- . The policy will be in effect at that point . 