Does My Life Insurance Cover Covid-19 Related Death?
Will my life insurance be there for my family if I die from Covid? In most cases, any death due to Covid-19 is completely covered by your life insurance.
Conventional Life Insurance policies such as Whole Life and Term Life Insurance will likely cover deaths as long as the policy is up to date, in good standings and you answered the original policy questions honestly. Any false information can cause a company to deny coverage.
What can I do to make sure my loved ones are covered?
First and foremost, it is recommended to check in with your agent. Ask some questions, make a list. Is my coverage up to date? Is there any incorrect or missing information? Do I have enough coverage? Is my beneficiary information up to date?
A great independent insurance agent will do a thorough assessment of your coverage
Be sure to look over and discuss any suggestions from them. A great independent insurance agent will do a thorough assessment of your coverage and help guide you for the best coverage in today’s changing world.
Can you still buy insurance during the pandemic?
The answer is yes. The Life Insurance business continues to operate as normally as possible. They are still selling both Whole Life and Term Life Policies. Companies have seen an increase in applications for new policies recently.
Getting covered could take a bit longer if you are in a high risk group
Some of the wait time in the policy process is taking a bit longer. Getting covered could take a bit longer if you are in a high risk group, have traveled to a Covid Hot Spot or have had Covid yourself.
Some individuals that are just recovering from Covid are given a 30 day postponement on their application.
Some companies will give a 30 day wait period for someone that had tested positive for covid but had no symptoms or never received hospitalization.
Some companies are requesting 6 months wait time from those that were hospitalized.
We can rest much easier if we know their financial future is well planned for.
Watching the news causes us all to look at our own mortality. We think about those we take care of. We can rest much easier if we know their financial future is well planned for.
To learn more about how Crunelle Insurance Agency can help you cut through the complexity and determine your best course of action, we invite you to contact us at 614-876-4634 or info@crunelleins.com.