Inspection Process

What is an inspection report?

An Inspection Report consists of questions about your Habits: e.g. smoking/tobacco usage, alcohol consumption, etc. Finances: including income and estimated net worth, etc.
Occupation: confirmation of employment, duties, and nature of the business/occupation, etc.


There are also some questions about your driving, sports, aviation, health history, and other insurance in force. In general, an Inspection Report will confirm and elaborate on the information previously submitted on the application for life or disability insurance.

Who will complete the report and how long will it take?

Our well trained professionals will obtain the necessary details to complete the inspection process. The time will depend on the type of insurance as well as the details requested by the insurance company. On the average, the initial interview may last 15 to 30 minutes.

How is the appointment made and where?

You will receive a telephone call as instructed on the application. If you have requested a specific time, we will call you as per your request. During this call, you will have the option to schedule the time that is most convenient for you to complete the inspection interview process. Can we do the interview in the evenings or weekends? YES, you simply advise us of the time and place at which we can contact you.

What happens to the information?

All information obtained during the course of the interview is strictly confidential and will be submitted only to the insurance underwriter for review to help evaluate your individual application for life and/or health insurance.

What is financial underwriting?

When the insurance application is for business reasons such as Buy/Sell Agreement, Estate Taxes/Capital Gains Protection, Key Man Insurance, Disability Buy Out, Security on loans demanded by a lender or a financial institution, we are requested by the insurance company to obtain details on the operations of the business. We require financial references such as accountants, banks, etc. A copy of the company's recent financial statements are required. In some situations, financial figures from the financial statements may be sufficient.

Who will provide the necessary financial information?

We are fully trained to obtain the necessary financial information from the company's accountant, controller, etc. With your authorization to approach them, we are able to get all the necessary financial information and save you time.

Do we need financial information?

Financial Statements are a good indication of the company's financial position. Financial information is utilized to evaluate the financial risk, similar to a medical examination being used to evaluate the medical risk. Generally speaking, the larger the amount of insurance, the greater the need for detailed financial justification.

What can you do to assist our representative at the time of interview?

The best preparation is to simply have all the necessary contacts such as banks, accountants, etc. available for the representative at the time of the interview.

In summary, all personal and financial information that you provide is strictly confidential. We will be pleased to provide you with a letter of confidentiality upon request.

Important Note:

Our inspection reports are never submitted to the field or brokerage offices without first receiving authorization from your home office or the underwriting officer. All information obtained in our files is treated with strict confidence in accordance with the Fair Credit Reporting Act (FCRA), Investigative Consumer Reporting Agencies Act (ICRAA), Consumer Reporting Act (Canada) and all other consumer reporting governing acts.