The Truth About COVID and The Impact On Life Insurance
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
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Do you know what will happen if you get a COVID vaccine? And how it can affect your life insurance plan? We’re here to tell you that this little-known vaccination could be affecting your rates and coverage.
Ready to find out more about the COVID vaccine and its impact on life insurance policies? You are in the right place.
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- Will Covid-19 Vaccination Disqualify Your Life Insurance Policy
- Will Life Insurance Cover COVID Vaccine
- Life Insurance and COVID Vaccine, How Does It Affect Each Other
- How Does Life Insurance and COVID Vaccine Affect When Your Applying
- Applying For Life Insurance and What To Expect In The Coronavirus Era
- Other Factors That May Impact Your Application Being Approved
- Preventative Steps That Can Be Taken During The Coronavirus Pandemic
Will Covid-19 Vaccination Disqualify Your Life Insurance Policy
The American Council of Life Insurers recently confirmed that the COVID-19 vaccine will not affect your life insurance. If you have a current policy and get vaccinated, it’s guaranteed to be intact after death from complications or any other reason – so go ahead!
In addition, if you have been declined life insurance because of the pandemic, call us, we have carriers that specialize in every health impairment and we will match you up.
What about if you already received the COVID Vaccine
According to Swiss Re, one of the largest reinsurers and life insurance providers in Switzerland: You’re still eligible for coverage even if you recently received a COVID-19 vaccine. Your rates won’t be impacted.
The life insurance company will not be concerned about your recent vaccination reaction, as it doesn’t affect their underwriting.
If you were hospitalized due to an adverse vaccine response which is rarer still (and have also been given medications), this could change things for the medical review process but don’t let those risks stop any check application because they are extremely unlikely in most cases!
Above all, PinnacleQuote is the best way to find affordable life insurance. We work with over 2 dozen of America’s top insurers so that you can get coverage quickly and efficiently no matter what your health impairment or pre-existing condition may be.
In fact, we are headquartered in Jacksonville, FL, and have clients in ALL 50 states.
What if You Haven’t Received The COVID-19 Vaccine
How does covid vaccine affect life insurance? Should I get vaccinated for COVID-19?
The answer…
The vaccination is not yet available in your state or area, but don’t worry because it doesn’t affect life insurance coverage.
If you have been waiting to apply for this vaccine until now and haven’t already applied when given the opportunity last year then do so immediately after reading this blog post! Life insurance can help protect yourself from financial ruin if anything were ever to happen during a pandemic like this one.
Will Life Insurance Cover COVID Vaccine
How does coronavirus affect life insurance? The answer is that it depends.
For some, the virus may be literally a matter of their survival and they are forced into rethinking all aspects of what would happen if something were to happen.
However, for others who haven’t experienced anything near death’s door at least yet, there isn’t much change going on here other than concern over those more severely impacted by this condition (and also general discomfort).
The thought of losing your life to this virus is terrifying, but for over 200,000 families in America it has turned out not just a possibility. Let’s examine the impact on existing policies and how new ones may affect you or other family members going forward.
Life Insurance and COVID Vaccine, How Does It Affect Each Other
Pandemic insurance coverage is not an exception to the rule that life insurance policies cover you for any cause of death. If it’s been less than a year since purchase, then claim likely they’ll pay out even if pandemic-related deaths are involved!
With few exceptions, life insurance policies will pay for any cause of death once the policy is in force. But what about coronavirus?
The good news: generally speaking an individual’s existing corona-virus-related claim has been honored by many companies because this viral infection is not recognized as being war or terrorism-related so it falls under one specific exception – which only applies if you die from a pandemic!
How will COVID affect life insurance companies?
Don’t be shy about how the coronavirus might impact your existing life insurance policies.
Get in touch with the company, or review everything you have going for yourself and make sure there are no exclusions that could apply if something were to happen due to an epidemic like this one gets worse – just don’t wait too long!
There are a few reasons why an insurance company might deny your claim. They could be denied for any of the following:
- The period of contestability is the best time to make a claim. If you die during this two year window, your loved ones will have access to all information about what caused death and can be eligible for compensation. In other words, if somebody has been denied based off their pre-existing condition they should appeal before it’s too late!
- Non-payment of premiums – what happens when you exceed the grace period for payment? Your policy will lapse! But even if this happens, there might be ways to get reinstated. You just need to know how; call us at 855-380-3300 ext4, or ask us at info@pinnaclequote.com today about our reinstatement process and requirements in order apply again without any problem whatsoever.
- Failing to disclose certain health conditions on an application can result in the denial of payments for insurance fraud. For example, if you’re a smoker but check non-smoker when it comes time to fill out your forms and list possible causes of death with regard those cigarettes are determined by company representatives as contributing factors leading up until their eventual death – they’ll deny any money being paid over from policies purchased under false pretenses.
This is a very important thing to note: if your policy has been in force for more than two years, and the coronavirus was detected prior to application (through blood testing), then death benefits should still go through even though there may have been an interruption.
COVID Cases By Age In The US (as of 8/2021)
| Age | COVID Cases Per 100K People | Percentage of COVID Cases | Population |
|---|---|---|---|
| 0-9 | 4,363 | 5.1% | 12.3% |
| 10-19 | 9,249 | 11.5% | 13.0% |
| 20-29 | 14,110 | 19.0% | 13.9% |
| 30-39 | 12,988 | 16.6% | 13.2% |
| 40-49 | 12,146 | 14.8% | 12.5% |
| 50-59 | 10,895 | 14.2% | 13.2% |
| 60-69 | 8,784 | 9.9% | 11.4% |
| 70-79 | 8,039 | 5.3% | 6.7% |
| 80+ | 9,585 | 3.6% | 3.8% |
How Does Life Insurance and COVID Vaccine Affect When Your Applying
How does coronavirus affect the life insurance you’re applying for?
Maybe people are giving more thought to buying a policy now than they might have at any point in the past. The virus has turned out to be really dangerous.
In addition, this can make it seem like an appropriate time for them to give some serious consideration about coverage for the family to protect them if something were ever going to happen with Coronavirus!
If you’re still looking for a policy or not sure if it’s worth all of the hassles, just know that there is no better time to get covered than now. The prices will be low and so will your rates once this pandemic blows over!
Does insurance cover vaccines?
Above all, the recent coronavirus crisis is having a significant impact on life insurance. From over 700,000 deaths in America alone to just under 5,000,000 worldwide; it’s no wonder that companies are taking these claims seriously and reviewing applications for new policies accordingly.
Applying For Life Insurance and What To Expect In The Coronavirus Era
Life insurance is often a difficult process, but if you’re under 60 and in good or excellent health with no signs of the virus it’ll be as easy to get approved for life coverage as ever before.
The CDC has determined that people who have coronavirus risk factors may face an increased difficulty when applying due to their condition being considered high-risk by insurers such as:
- Obesity
- Asthma/COPD/Sarcidosis
- Chronic Kidney Disease CKD
- Diabetes
- Comprimised Immune System
- Liver Disease
- Heart Disease
- Over Age 65
- Seniors in Nursing homes/LTC Facilities
If you’ve got any of these risk factors, it pays to work with an insurance company that specializes in your condition.
Other Factors That May Impact Your Application Being Approved
The insurance companies are tightening their restrictions for people with certain health conditions. For instance, if you’re over 65 years old and have a significant condition that requires regular care like asthma or diabetes – expect to find fewer policies than before offering coverage because these ailments can be contagious as well!
Traveling to a foreign country is always an exciting experience, but if you’ve recently returned from one of the high-risk countries on CDC’s list or plan in near future trips there may be some changes.
Your insurance company will most likely require proof that your stay was brief enough for quarantine before processing any new applications during this time period without risking exposure themselves so make sure everything checks out!
Preventative Steps That Can Be Taken During The Coronavirus Pandemic
The coronavirus has been a big problem for many people, but it’s not all bad news. The virus can even have some positive outcomes if we take action and overcome our fears!
I recommend these five things:
- Paying Your Premiums Should Be a PRIORITY
Don’t make the mistake of canceling or reducing your life insurance coverage when times get tough. It can be a major issue in pandemic periods because, as with any other type of insurance, maintaining it should be a top priority for you!
- Make Your Health a Priority
Follow the CDC coronavirus guidelines on how to protect yourself. Since there is a connection between poor health and this virus, commit to an improved lifestyle of yours: maintain a proper diet; get regular exercise
- Call US For The Lowest Cost Life Insurance
Now is a great time to buy life insurance. You never know when you might need it, so why not get the least expensive policy possible?
A low-cost provider means that your coverage will be much higher than what most people are doing on their own today – and they’re our best bet for peace of mind in an uncertain world! - Don’t Put Off Buying Life Insurance If You Think You Need It
Don’t wait until it’s too late to buy life insurance. The consequences of not having this vital protection can be severe, and the virus is only adding another layer of complexity to your already stressful situation! Get started by comparing the best companies for coverage today so you are prepared when times become tough again tomorrow or next month because they always do eventually come around right?
- No Exam Life Insurance May Fit Your Fancy
One of the best ways to get life insurance quickly is by not having a medical exam. If you don’t have the virus and your goal is just being covered, then no medical exams will be an option that gets the ball rolling on coverage as soon as possible with little hassle
Conclusion
The end of life is a scary thing to think about. But with COVID, you can make it less frightening by considering the impact on your loved ones and finances in advance.
If you’re looking for an affordable plan that will provide coverage when the time comes, we have a wide variety of life insurance quotes available online or over the phone at any time!
Call us today so we can help ensure that your family will be cared for after you’re gone. Do not wait until tomorrow- start planning now to give yourself peace of mind and enjoy life.
