You are here: Home Insurance Sale Of A Life ... The Process Of ... The Offer Stage
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

The Process Of Selling A Life Insurance Policy

The Offer Stage

Next » « Previous

4/6

After underwriting has been completed, the purchaser or broker will either make an offer to you or indicate that an offer cannot be made.

You are never obligated to accept an offer that is made. However, you generally must respond to an offer within two weeks if you are interested in the price being offered. Many companies do not hold an offer open beyond two weeks without a valid reason.

If you are uncertain about accepting an offer but wish to keep the offer open, before two weeks are up, ask that the company send a contract to review. Even if you decide not to sign the contract, you will have bought yourself a little time.

Review every word of a contract before signing.

You have the right to change your mind about an offer you accept:

  • At any time during the sale process until a contract is signed by both parties.
  • In most states where the purchaser is regulated, you have up to 15 days after a sale is complete to rescind it. In unregulated states, you may only have three days to rescind the contract.

Please share how this information is useful to you. 0 Comments

 

Post a Comment Have something to add to this topic? Contact Us.

Characters remaining:

  • Allowed markup: <a> <i> <b> <em> <u> <s> <strong> <code> <pre> <p>
    All other tags will be stripped.