If you already have life insurance, you are covered – a insurance company cannot make changes to a policy that is already active.  If you do not currently have coverage, however, your application may be affected.

Here is what you need to know

If you are covered – you are covered.

If you already have term or a permanent life insurance, you can continue to rest easy knowing you have nothing to worry about. Your active policy is secure and will remain unchanged with its benefits. If you are seeking additional coverage or have difficulty in paying your premium many insurance carriers may options for you.

What is a life insurance medical exam?

A life insurance health exam is a simple physical. It is a part of the underwriting process, or the process your insurer has you go through in order to determine your specific characteristics and risks. Using this information helps them determine how much they will charge you for your insurance policy. Examines may be given at by a registered nurse that will come to your location ( home or work) or be done at a approved examine location.

Exam staff will be conducting appointments and testing as usual during this time, are instructed to use CDC Guidelines ensure the protection of their staff and clients during the pandemic.

Better health stats and age make a big difference.

As insurance companies remain unsure of the full effects of this virus, some have implemented age limits for those applying for life insurance. As the pandemic changes so may change their guidelines of writing a policy. It is typically cheaper the earlier you buy, so it is always a good idea to take of this sooner rather than later, but especially in this situation. If you do not have a policy and have been thinking about it, being proactive will only benefit you.

Traveling to certain countries may have an impact your application.

If you have recently traveled (or plan to travel) abroad, be specific about your travel history or plans on your application. This question is always on the application, so do not worry that this will prevent you from obtaining coverage. But high-infection countries as noted on the CDC website (this list changing as developments occur), your application time may be postponed.

Policies will vary by insurer.

Keep in mind that all insurance companies are handling the pandemic differently. It is important now, more than ever, to shop around and find the company that meets your needs.

Do not wait until the crisis is over to get insured.

It is especially important to make sure your family is protected during a health crisis as soon as possible. As the pandemic changes our world protecting those you love financial is more than ever important.