Once you select a specific life insurance policy, the first step in securing coverage is to complete and submit an application. Most policy applications require you to furnish detailed personal and medical information. The company reviews the information to determine whether you meet their guidelines. They will consider all information on your application and details from medical exams or tests. It is important that all questions are answered fully and accurately. Your application will become part of your policy contract. Any inaccurate or incomplete responses could lead to your policy being terminated or a claim being denied.

When you fill out the application for life insurance, the company will usually ask you to choose a beneficiary. This is the person to whom the benefits will be paid upon your death. A beneficiary is most often a family member, though non-family members, estates, trusts, etc., can also be designated. The beneficiary can may be changed later at the request of the policy holder.