Death By Coronavirus: Covered By Life Insurance Policies?

Death By Coronavirus: Covered By Life Insurance Policies?

All over the world people are gripped by fear. And, for good reason, it is spreading like wildfire. With no end in sight, this leaves many unanswered questions about many different every day, ordinary things in our world.

Perhaps hearing of the growing number of deaths has you questioning your own demise. What role will COVID-19 (as it is also known as) play in life insurance policies? Will your family or other beneficiaries receive your death benefit should you die after contracting this virus? Will you be able to purchase a policy if you test positive for coronavirus?

Let’s take a quick look at the answers to these questions.


Current Life Insurance Policyholders


If you currently have a life insurance policy, relax and rest easy. You are covered. There is no clause or hidden text that says if you die due to contracting COVID-19 that your family will not receive your benefits. Whatever your current life insurance policy states is your death benefit will be dispersed to your beneficiary when you die.

It does not matter that this coronavirus has been declared a pandemic, either. Making the decision to have life insurance in place has protected you and your loved ones.  If you have coverage relax, and know that the policy will pay to your family in event you would pass away from the Coronavirus.


Obtaining a Life Insurance Policy amid Coronavirus


It doesn’t matter when you apply for life insurance, your medical history, and current risk level will be assessed. And, things are no different during this pandemic, for the most part. Though, as insurance underwriters make the determination about how great of a risk you are (which also directly affects your premiums), you may find that if your application is treated a bit more rigorously than usual.


As part of your application, you will have to answer questions about places you have traveled, will be traveling to, as well as declare your residence. If