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rated:
A week back I was told that our term life and DI policies are available after underwriting approval. The premiums & health class are not what we applied for & we understand the reasons for the same.
The part that I am not comfortable with is that I am being asked to  sign up within a small time window (about 10-12 days), after which I am told the coverage will be cancelled. Considering that the underwriting process took about 3 months in my case, a 10-12 day delivery window seems too rushed to me. And I want to be able to study my options under no rush. I am told that I can cancel my policy within 10 days after signing up, but I ideally do not want to get into that.

Are such tight delivery windows typical of term life and DI? If not, what are the typical time frames? Or is this specific to North Western Mutual?
(One other agent tells me that medical test results are valid for an year and so there should be no reason for the NWM agent to rush me)


 

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rated:
Just call NWM and ask but yes they don't have to give you an open ended invitation

Typically they aren't a good choice price wise for either of those things and will push whole life on you

You should ask an independent agent to shop your case around.

If worried about not getting coverage then pay monthly and cancel IF you find a better deal

rated:
Thank you dhodson. I called NWM and it was easy to extend the delivery date by a month.

Still interetsed to know what is the maximum delivery time window people have been provided or have been able to obtain.

Another question: My NWM agent says he is not able to provide me with the soft version of the underwritten policy document until I come over at his office (to sign or not accept). Ideally I wanted to persue over the document in detail in advance of my meeting with the agent. Is this again typical of how things are done? I would guess that a transparent process would require that the customer be given full opportunity to study the fine print in advance.

rated:
You are dealing with a captive insurance agent. It's like walking into the Lions den. Be careful.

He could but he won't bc reading these things makes you realize how they pay for all those commercials.

Get quotes from an independent agent now.

Then make a decision after the independent agent finds you comparable offers.

rated:
There is absolutely zero reason he can't email you a copy of the policy or mail you a hard copy. He wants you to come in to pressure you to sign.

rated:
Understood. Thank you all! I am now in touch with an independent agent, while I have extended the delivery date of the NWM policies. Appreciate all your guidance.

rated:
Many years ago, I bought a term policy from Northwestern Mutual. Although I would have preferred having the policy mailed to me, the agent wanted to drop it off at my office. Although I should have known better, the agent was referred to me by someone at my employer and it was possible that he had other meetings in my office. Since it takes at most a few minutes to greet someone and receive an envelope, I hadn't planned on an spending much time with him. The agent was extremely annoyed that I wasn't paying attention to his extended sales pitch for whole life and/or a policy for my young child. As unpleasant as that was, going to a NW agent's office would almost certainly be worse.

​If you wouldn't go to a time share presentation for no compensation, don't go to the agent's office to receive information that could be sent to you.

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