The coronavirus pandemic has impacted everyone’s physical and mental health. As a result, many of us are getting anxious about our health due to the rising uncertainty. Buying life insurance in the coronavirus pandemic is important to stay healthy and protected.
Here are the different ways of getting life insurance during these difficult times:
Your Current Life Insurance Does Cover COVID- 19
People who already have life insurance coverage should know whether their current policy covers death due to COVID- 19. There is a list of exceptional cases that a life insurance policy does not cover.
However, such exclusions are usually for large scale acts of war and other similar situations. Diseases such as the coronavirus pandemic are generally not considered an exception. Therefore, your current insurance should also cover death due to COVID- 19.
You Can Get a New Life Insurance Policy Now
If you do not have a life insurance cover, it is still possible to get insured now. However, a lot of areas might be considered high-risk zones, and people might be further questioned on their travel history. This may delay finalizing your policy, but if you are in good health when you apply, there is a better chance of a securing a policy. Many insurers offer online services to help people secure insurance without leaving their house.
There Are Multiple Options for Coverage
The usual process of buying life insurance involves getting your health status verified by a certified medical professional. However, receiving a home visit may not be possible or allowed during this time. In this case, you can use the accelerated underwriting option, which requires completing a health-related questionnaire as a replacement for a full medical exam.
There Are No Additional Costs
Some people might be worried about the possibility of insurance premiums rising due to the current situation. However, life insurance premiums won’t fluctuate due to demand or interruption. Therefore, prices would not be increased. Work with your insurance agent to secure the right coverage at the right price for you.
Even during the pandemic, you can secure life insurance. If you have additional questions about purchasing life insurance during COVID-19, contact the experts at Udell Family Insurance. We are ready to assist you with all your coverage needs today.