Which phase follows the negotiation stage in the life insurance product sale process?

The phase that follows the negotiation stage in the life insurance product sale process is the execution of a contract. This stage involves formalizing the agreement between the insurer and the insured once both parties have come to terms on the policy details. During this phase, the policy is completed with the necessary signatures, and the agreement is made legally binding.

Understanding this process is crucial for agents and clients alike, as it ensures that both parties are fully aware of their obligations and rights as stipulated in the contract. This not only solidifies the deal but also lays the groundwork for the subsequent steps like delivering the contract and conducting a policy review.