Terrifying daily death tolls across the globe may be causing many of us to think about our own mortality – particularly those of us who are responsible for little ones.
The mature and sensible thing to do when you’re an adult with children, a mortgage, elderly parents, or really any responsibilities, is to make sure you have a robust life insurance policy.
Because, although it isn’t something we like to think about, death impacts all of us, and there are no guarantees.
But, given that insurance companies build their businesses on assessing risks, now feels like a particularly risky time to be doling out insurance that is dependent on people staying alive.
It is possible to take out a new policy to cover yourself and your family.
The key thing to note is that you shouldn’t have any issues buying life insurance. Some insurers have tightened up or changed their underwriting requirements to ask questions about coronavirus, but there is currently no restriction on the availability of life insurance.
Insurers are being prudent in asking new applicants the right questions within their applications, and in general consumers that have tested positive or are suffering from symptoms of coronavirus are unlikely to be able to obtain cover until they recover.
Life insurance is important for a number of reasons. Firstly, when you die your debts will be passed on to your family – including lengthy mortgages – which could be financially ruinous for your loved ones. Also, dying is expensive.
Life insurance can cover the cost of pricey funerals. If you already have life insurance, it should pay out if you die from the virus, but if you want to check you should contact your existing insurer.
For questions and free life insurance quotes contact 813-964-7100