Life Insurance During the Coronavirus Pandemic: What You Need to Know

Life Insurance During the Coronavirus Pandemic: What You Need to Know

In the backdrop of COVID- 19, we need to take a fresh look at life insurance. If life was uncertain before, with the global pandemic that we presently face, it is even more so.

Here’s how you can take better control of your life insurance during coronavirus:

You Will Continue to Be Covered

The primary concern of most life insurance policyholders today is the validity of their policies. However, pandemics do not appear in the list of exclusions of such policies. Hence, your beneficiaries will receive a death benefit if you pass away due to coronavirus.

If you already have a policy, make sure it is up-to-date. If not, do not delay in getting yourself insured.

Status of New Life Insurance During COVID- 19

You can buy life insurance during the coronavirus pandemic. However, due to the precarious condition of public health globally, carriers are likely to be more stringent in screening your health before issuing you a policy.

While completing the application, you need to disclose all your health information honestly. For instance, if you have some existing health conditions but fail to communicate them, it could result in the rejection of your application. Or worse, in the unfortunate event of your death, any claims your dependents make can be rejected, causing them undue distress at a time when you cannot help them.

Extra Tips for Life Insurance:

  • Figure out an estimate of your family’s future expenses to understand the amount of coverage you need to buy.
  • If you are purchasing a new policy, ensure that COVID- 19 does not appear in the list of critical illnesses—this may happen in the future.
  • Acquaint yourself with the terms and conditions of your policy and note the exclusions carefully.
  • Avoid traveling to pandemic affected areas.

Getting life insurance during the coronavirus pandemic is crucial for the safety of your loved ones. For any assistance with your coverage needs during the current global situation, get in touch with Nick Agliato ( at Steve Wilk Insurance. Our new office is at 310 S Main Street, Suite C, Lombard, IL 60148.