Coronavirus (COVID-19)

 

Despite the pandemic, you can apply for life insurance.  Because of the shutdown, life insurance companies are adjusting their approval processes.  In order to approve clients without exams, the companies are loosening their underwriting guidelines.  However, based on your age, driving records, medical records, personal history interview, and the death benefit amount, an exam may still be required.

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If you purchased a policy within the past two years, you may be eligible to add or change coverage using your previous exam.  Usually, exams expire after 6 months.  You still will have to be underwritten.  However, you will not have to complete another exam.

 

Upon policy delivery, a statement of health and insurability will be required to confirm your health has not changed since the submission of the application.

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If you have been diagnosed with the coronavirus, the life insurance company will postpone policy issuance until you have completely recovered.  Documentation from a physician must confirm you have been cleared.

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