When you get your life insurance quote online, you might be excited at the affordability of the quote you're given. But before you begin to write out your budget and count on that price, you must remember that the quote is not a guarantee of coverage or cost.

Before you can actually be issued a policy and be given your real cost, you must go through a process called underwriting. This involves evaluating your individual risk to the insurance company based on your health and health history. It's only once your health has been evaluated that you can get a real price.

Of course, once you have the price of your policy after underwriting, you're not actually covered. You must accept the quote by paying a premium before you're covered by the insurance benefit.

So remember, wait for underwriting to approve you, then pay your actual premium and you'll create a safe foundation for your family.

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