The coronavirus pandemic has impacted people’s economy and health. However, having the right life insurance can help you stay protected even during the pandemic.
Here are the essential things that you need to keep in mind when purchasing life insurance during coronavirus:
Eligibility
The requirements for getting life insurance remain the same, even during the COVID-19 pandemic. While buying life insurance, you will be asked about your recent travel history. With coronavirus being a global pandemic, travel history to any particular part of the world will not reduce your chances of getting the insurance.
Medical Tests
Like other aspects of insurance, the need for medical tests remains unaltered. When you apply for life insurance during coronavirus, a medical team will come to your location and perform a necessary medical examination. You do not need to worry about cross-infection, as the team will follow the necessary safety measures.
If you are uncomfortable with the team visiting your house, you can choose non-medical underwriting insurance. For a policy amount between $500,000 and $1,000,000, there will be no in-house visit, and a self-declaration on the medical questionnaire will suffice. If required, you can take a medical test and provide reports to increase the policy amount.
Conditional Receipt
Getting life insurance coverage can take three to six weeks from the date of application. Under typical situations, many insurance service providers offer a conditional receipt option. This is a temporary arrangement where you are given coverage for this interim period.
Due to the pandemic, many service providers have now suspended the option of conditional receipt. The easiest way to ensure that you get your life insurance policy at the earliest during the pandemic is to choose an accelerated writing application process.
By following these steps, you can easily get life insurance in coronavirus pandemic. If you have additional questions about insurance, contact the experts at Weaver & Associates in Arcadia, California. We are ready to assist you with all your insurance needs.
