Buying Life Insurance in a Covid World

THE COVID LIFE INSURANCE QUESTION - If you were wondering about being able to get additional Life Insurance in these Covid times, generally the answer is yes, provided you don't or didn't have Covid. If you did or currently have Covid, then you will have to apply to find out, if you can qualify for additional immediate coverage.?

For a short time during the last year many companies weren't taking applications for new policies for ages 80 and up but most have removed that underwriting block.

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There are some Great New Benefits included in some New Generation Life Policies!

Along with the low cost death benefit some of the newer low cost term life, as well as permanent policies have riders that provide cash benefits for major health problems than can occur, like a heart attack, a stroke, or kidney failure, which can also occur due to having gotten Covid. These Riders also provide coverage for cancer as well as some other catastrophic health issues and those benefits vary by policy.

These special riders are called, "Living Benefit Riders" in that you don't have to die to use the riders.

There is also a cash rider included to pay for Chronic Care, which is similar to care required if you were debilitated enough to qualify for Long Term Care.?

The good news is the insurance companies haven't raised the life rates because of covid but there are talks about adding a surcharge to group health insurance premiums if you are not vaccinated.

Unfortunately we are all at risk today. To get you though these hectic or potenially risky times you can alway just start with a low cost convertible 10 year term policy with living benefits. Just remember, that the insurance rates are based, for the most part on your current age, and you will never be any younger than you are today.

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Note: An application can be done completely online and depending on your personal situation, you may not even be required to have a medical exam.?

If you have questions, just give me a call or send me an email.

Louis G. LaBash

[email protected]

1-855-LESS-IRS