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What are the requirements for group life insurance?

Employment status: You typically must be an active, full-time employee or a member of the organization to qualify for coverage. Part-time employees may be eligible if they meet certain hour requirements. Waiting period: There is often a period after you begin employment when youre not yet eligible for coverage.

How to fill out a life insurance application?

The purpose of the Federal Form 712 is to identify the policys face amount, any accumulated dividends, terminal dividends, any outstanding loans, the amount of the proceeds, as well as personal information on the insured for estate tax filing purposes.

What is a 712 form for life insurance?

Depending on the type of life insurance policy you are purchasing and other factors, a life insurance application can be completely filled out and approved within 24 hours or could take a few weeks or even months.