COVID-19: life and health insurance FAQs
If I've had COVID, can I still get life insurance?
Yes, so long as you have recovered.
Do you need to be vaccinated to get life insurance?
As of February 2022 no you do not. Insurers are not even asking.
Due to COVID-19, can I still get a life, critical illness, or disability insurance?
Yes, you can.
Do I need to meet with an advisor to get life insurance?
Absolutely not. We can do everything over phone/email/Zoom. Usually, it's paperless too.
Is it harder to get insurance now with COVID?
The biggest challenge that we are facing is that nurses are not doing medical exams. To get around this, many insurers have increased non-medical limits to $1 million.
Does my existing life insurance policy cover death from COVID-19?
Yes, it does.
If I get a new life insurance policy will it cover death from COVID-19?
Will critical illness payout for COVID-19?
No, it will not. COVID-19 is not the type of illness that critical illness insurance is meant to cover. If you get COVID, you'll likely either die or recover within a month. Critical illness is meant to help ease the financial burden for illnesses with long recovery periods: i.e. cancer, heart attack, or stroke.
Will disability insurance payout for COVID?
Highly unlikely because most disability policies do not kick in for 90 days. COVID rarely lasts that long. If you have a short-term disability it could payout though.
Has COIVD-19 changed life and health insurance pricing?
No, it has not. People who were recently eligible for life insurance are very rarely dying from COVID. Therefore it does not affect the insurers' claims experience.
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