This global outbreak had people look out for life insurance. Any application can be affected, especially when the holder is traveling. Some insurers may postpone any application approval if you just returned to the US within the last 30 days, or if you have plans to travel in the future.
Also, some providers would postpone your application if a member of your household just came back to the US from traveling abroad or if you had close contact with someone who tested positive. Some providers require the applicant to provide a statement of good health.
If you happen to contract the virus, your insurer could postpone your application until you have made a full recovery or after 90 days.
Medical Condition and Age
If you have a pre-existing medical condition or older, this might make you more vulnerable to the virus. Because of this, some restrictions can be imposed on your application. Most providers did not change their policy offering conditions, but some have adjusted the maximum age and insurable status. Make sure that you shop around and ask about this.
How the Mandate of Staying at Home Affects Your Application
If you were or will be in quarantine in another state than the one you are a permanent resident of, this could also have implications for your residency stated in the application. This factor varies, and it would be best to discuss with your provider how this will proceed during the quarantine period.
Medical Exam and Underwriting System
Given the situation of the coronavirus outbreak, medical examiners take extra precautions and have modified their schedule and capacity to prevent the spread of the virus during procedures. They are also required to wear masks and gloves as part of the protective equipment.
On the other hand, not every life insurance requires a medical exam and can still offer you protection during the pandemic. It would be best to consider temporary life insurance coverage that protects you should there be any delay in your application. Hence, your beneficiaries would still have benefits should you prematurely die. It enables postponement of the medical exam that is necessary for the underwriting process until the virus subsides, and it's safer to go outside.
Life insurance manages the risks and protects your loved ones should you die unexpectedly.
At Roper Insurance Services, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (828) 697-6709 or Click Here to request a free quote.