What Happens After You Apply for an IUL?
Congratulations! You've taken a significant step toward building a powerful tax-free wealth strategy.
Now our team and the insurance carrier will work together to determine what you qualify for and structure your policy to meet your financial goals.
Your Application Journey: The 6-Step Process
1
Application Received
We securely process your information and prepare your official application with the most suitable carrier for your profile.
2
Review & E-Sign
You'll receive secure electronic documents to review and sign from any device.
3
Carrier Underwriting
The insurance company evaluates your application and health information.
4
Underwriting Review
Either accelerated (no exam) or full underwriting with a brief medical exam.
5
Carrier Decision
You'll receive an approval, postponement, or rare declination with alternatives.
6
Custom Plan Design
We'll build your personalized IUL strategy for maximum tax-free growth and access.
Our team guides you through each stage, ensuring a smooth process and answering any questions along the way. Your financial future deserves this careful attention to detail.
Step 1: Application Received
Once your intake form is submitted, our licensed team springs into action. We use your information to complete your official life insurance application with Nationwide (or the carrier that best matches your profile).
During this initial phase, we:
  • Verify all your personal and financial details for accuracy
  • Structure your preliminary policy design
  • Prepare all necessary documents for your electronic signature
  • Ensure all your information is encrypted and processed using HIPAA-compliant systems
This foundation-setting stage typically takes 1-2 business days as we prepare everything for your review.

Your information is fully encrypted and processed using HIPAA-compliant systems, ensuring the highest level of data security throughout the application process.
Step 2: Review & E-Sign
Within 2-3 business days of submitting your initial information, you'll receive an electronic version of your completed application. This secure package arrives via email or text message through DocuSign or a similar secure platform.
Review for Accuracy
Take time to carefully review all details in your application, ensuring everything from personal information to financial data is correct. Accuracy at this stage helps prevent delays later.
Sign Electronically
Sign your application from any device - no printing or scanning required. Our secure e-signature system meets all legal requirements for insurance applications.
Ask Questions
If anything is unclear, our team is available to clarify any details before you sign. We want you to feel confident about every aspect of your application.
Once you've signed, we immediately submit your application to the carrier's underwriting department, keeping your application moving forward without delay.
Step 3: Carrier Underwriting
After submission, the carrier begins their review process to determine your rate class — a critical factor that directly impacts the cost and long-term performance of your IUL policy.
Within 1-2 business days, you'll receive a secure link to complete a short online health history questionnaire. This typically takes less than 15 minutes and provides underwriters with essential information about your health background.
What's Included in the Questionnaire:
  • Basic medical history and current medications
  • Family medical history for certain conditions
  • Lifestyle factors that may impact health
  • Recent doctor visits and treatments

Important: You do NOT need to schedule a medical exam unless specifically requested by underwriting later in the process. Many applicants qualify for exam-free approval.
Step 4: Accelerated or Full Underwriting Review
Based on your age, health history, and questionnaire answers, the carrier will determine which underwriting path is appropriate for your application:
Accelerated Underwriting (No Exam)
If you qualify, the carrier may bypass the physical exam entirely and move directly to a decision. This streamlined approach can reduce approval time to as little as 2-5 days.
Who typically qualifies: Younger applicants in excellent health with clean medical records and straightforward financial profiles.
Full Underwriting (Exam Required)
If more detailed health information is needed, a brief in-person exam may be scheduled at your convenience and no cost to you — usually a 30-minute mobile nurse visit that includes:
  • Vital signs (height, weight, blood pressure)
  • Blood and urine samples
  • Brief health interview
This process is similar to applying for a mortgage or substantial loan — the carrier needs accurate data to offer you the best possible terms. Providing complete, honest information helps secure the most favorable rate class.
Step 5: Carrier Decision
Once underwriting is complete (typically 2-6 weeks depending on complexity), you'll receive one of the following decisions:
Approved
You'll receive a formal offer including your specific rate class (such as Preferred Plus, Preferred, or Standard) and approved coverage details. This is the most common outcome for our applicants.
Postponed
In some cases, the carrier may request additional time or health documentation before making a final decision. This could involve medical records from your doctor or follow-up on specific health issues.
Declined
Though rare, some applicants may not qualify with a particular carrier. If this happens, we'll explain the reasons and explore alternative solutions from different carriers that may better accommodate your situation.
Your assigned rate class is crucial — it directly impacts your policy's cash value growth potential, cost efficiency, and long-term performance. We'll take time to explain your rate class and what it means for your financial strategy.
Step 6: Custom Plan Design
Once you're approved, the most exciting part begins. We'll schedule a personalized consultation to build your custom IUL plan, tailored specifically to your financial goals and newly approved rate class.
During this design session, we'll explore options like:
  • Funding strategies - monthly, annual, or custom contribution schedules
  • Funding duration - how many years you plan to contribute
  • Income planning - when and how to begin accessing tax-free retirement income
  • Cash value optimization - structuring for maximum growth potential
  • Protection features - ensuring proper coverage for your family
Your approved rate class opens specific possibilities, and we'll help you structure the most efficient design to maximize your future tax-free wealth.

Our goal is to build a tax-free wealth strategy that fits your lifestyle, income goals, and legacy vision — not just sell you a product.
Common Questions About the Application Process
How long does the entire process typically take?
From initial application to policy approval typically takes 1-3 weeks, though accelerated underwriting can sometimes complete in as little as 2-5 business days. Once approved, your policy can be in force within days of your acceptance.
What if my health changes during the application process?
You're only required to disclose health information known at the time of application. However, significant health changes during underwriting should be reported as they may impact your eligibility or rating.
Can I change my mind after being approved?
Yes. All life insurance policies come with a "free look" period (typically 10-30 days depending on state) where you can cancel without penalty after reviewing your issued policy. We also don't charge any fees if you decide not to proceed.
We understand that applying for a financial product like an IUL involves important decisions. The IUL Basics team is committed to transparency throughout the process, ensuring you have the information needed to make confident choices about your financial future.
Have Questions or Need to Provide More Information?
We're here to support you through every step of your IUL application process. Whether you need to provide additional information, have questions about your underwriting status, or want to understand more about how your IUL will work, our team of specialists is ready to help.
Schedule a Consultation
Book a convenient time to speak with someone about your application or policy design.
Call Our Support Team
For IUL questions, call Senior Broker Jesse Wood at (757) 981-7175.
For application questions & updates, call Director of Business Mayra Lyons at (510) 334-9779
Email Questions or Documents
Need to send secure documents or ask questions? Email Director of Business Mayra Lyons: mayra@dominatemoney.com.
Remember, we're building more than just an insurance policy—we're creating a foundation for your tax-free retirement income and financial legacy. Our commitment to your success extends far beyond the application process.
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