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Does life insurance cover coronavirus? Is it too late to buy a policy? LIFE INSURANCE

Life Insurance Protection Corona Virus

Do you already have a term or life insurance? Relax! Your life insurance covers coronavirus.

If your policy is active before you are diagnosed with a health problem, your beneficiary is protected.

From now on you can also buy cover! Some premium providers even offer online life insurance without the need for a medical exam. Read on for the latest updates.

Quick start Guide:

1. Does my life insurance cover coronavirus?
2. Can I still take out life insurance?
3. How do I buy life insurance online or by phone?
4. What is the approval process for life insurance without an exam?
5. Latest life insurance updates for COVID-19

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Does COVID-19 life insurance cover?

If you have taken out life or general life insurance before you are diagnosed with a health problem, your policy will be paid out. Most life insurance policies also pay for every cause of death. The only exception is guaranteed emission insurance, which has been active for less than two years.

Guaranteed life life insurance is usually taken out by people with an incurable disease and insurance coverage is limited to $ 25,000. If the insured person dies during the first two years of insurance, the beneficiary will receive a refund of the money he has paid into his policy, plus 10-20% interest.

Is it too late to take out life insurance?

From April 17th you can still take out life insurance. As soon as your policy is active, your beneficiaries are insured. Some companies also offer life insurance online or by phone. These guidelines do not require a medical examination and most applications are approved within a week or two.

Here is a current list of life insurers that still offer policies without a medical exam:

Companies
Coverage amount
Edition age
American General (AIG)
$ 100,000 – $ 499,999
Up to 50
American citizen
$ 100,000 – $ 1,000,000
Up to 60
safety
$ 100,000 – $ 500,000
Up to 65
Encova
$ 100,000 – $ 500,000
Up to 70
loyalty
$ 25,000 – $ 1,000,000
Up to 65
ranger
$ 25,000- $ 400,000
Up to 60
Guardian
$ 100,000 – $ 3,000,000
Up to 60
John Hancock
$ 100,000 – $ 3,000,000
Up to 60
Law and General (banner)
$ 100,000 – $ 1,000,000
Up to 70
Lincoln
$ 100,000 – $ 1,000,000
Up to 60
Mass mutual
$ 100,000 – $ 1,000,000
Up to 64
Minnesota life
$ 100,000 – $ 2,000,000
Up to 54
Mutually from Omaha
$ 100,000 – $ 300,000
Up to 65
National life group
$ 100,000 – $ 2,000,000
Up to 60
Nationwide
$ 100,000 – $ 2,000,000
Up to 60
Pacific life
$ 50,000 – $ 1,000,000
Up to 69
Penn Mutual
$ 100,000 – $ 5,000,000
Up to 65
principal
$ 100,000 – $ 1,000,000
Up to 60
protection
$ 100,000 – $ 1,000,000
Up to 60
Prudential
$ 100,000 – $ 1,000,000
Up to 60
Sagicor
$ 50,000 – $ 1,000,000
Up to 65
SBLI
$ 100,000 – $ 500,000
Up to 60
Security life
$ 100,000 – $ 1,000,000
Up to 60
Transamerica
$ 25,000- $ 249,000
Up to 70

* Business offers are subject to government availability, are subject to change at any time without notice, and are for illustration only.

By asking you some questions about your health and insurance needs, our experts can quickly identify your best options, saving you time and money. Call us today. Duty free: 855-247-9555.

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Buying simplified life insurance

Buying life insurance can be as easy as filling out an application or picking up the phone. Companies like Bestow allow you to apply online so you never have to speak to an agent. The whole process only takes about 15 minutes, but they tend to be picky about health problems.

If you’re not in perfect health, you’re probably better off with a company like SBLI or Sagicor. Both providers have an “excellent” rating and are lenient towards applicants with existing conditions. These companies can purchase a policy over the phone in about 20 minutes.

Each life insurance company sets its own licensing guidelines, and some companies are willing to offer larger policies than others. To find the best option for insurance coverage, we recommend working with an independent agency that represents at least a few dozen life insurers.

This strategy not only saves you money, it can also prevent your application from being rejected. An experienced agent can quickly match you with the best provider for your needs and health profile. We can also help you switch to a different provider if a better option becomes available.

To get an accurate quote based on your health profile, call us today at 955-247-9555. You can use our free quote form below to instantly compare life insurance rates from more than 50 providers.

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What is the approval process for life insurance without testing?

One of the most common misunderstandings about life insurance without an exam is the approval process. No medical examination is not the same as “no questions asked”. If you purchase more than $ 25,000 in insurance coverage, the company you are applying to must review your medical records.

Most providers check your documents electronically. You will also evaluate your prescription history, vehicle records and your crime history. Minor health problems like blood pressure medication shouldn’t do anything, but health problems like diabetes are an automatic decline for many providers.

The entire approval process takes less than two weeks for most companies. However, if you are in excellent health, faster options are likely available. In general, companies with a long approval process are the most lenient towards applicants with serious health problems.

If you need life insurance, don’t wait!

coronavirus np exam life insurance

If you need life insurance coverage, we recommend that you buy your policy as soon as possible. An increase in COVID-19 mortality rates will undoubtedly lead to higher life insurance premiums. Securing coverage could also be much more difficult if not impossible in the near future.

If companies send their employees home and close doctor’s offices, the approval process is likely to cause delays. Young and healthy applicants may not have problems, but for those with extensive medical records or pre-existing health problems, this is unlikely to be the case.

It is also possible that some companies will stop offering new policies if they experience an influx of deaths. In the past two weeks, some providers have already started to adapt their approval process for this Covid-19 pandemic.

Here are some of the latest updates from April 17th, 2020:

Cincinnati life
As of March 23, the Cincinnati Life Insurance Company will require each new applicant to receive a signed health statement as soon as they submit their approved policy.

American General (AIG)
As of March 27, AIG requires a good health declaration for all applications. You have also announced that you will no longer accept applicants over the age of 70 or people with serious health problems.

For younger applicants with average or better health, the medical examination can be waived or replaced if the person has recently carried out a physical examination with a favorable medical explanation.

Lincoln
As of March 30, Lincoln will request an insurance policy for ALL new policies to verify that the applicant’s health has not changed. The company also accepts photo images of underwriting and policy documents instead of physical paper.

John Hancock
John Hancock’s new applications include questions about recent trips and close contact with people who tested positive for Coronavirus-19. In the “Special Instructions” field in Part I, Section L., the company also asked about household members and travel on board cruise ships.

Guardian life
Guardian Life recently announced that it will offer up to $ 3,000,000 in life risk insurance without verification. The offer is currently valid until June 1, 2020.

SBLI
From April 17, Sparkassen-Lebensversicherungsgesellschaft limited the admission for new applicants with low-quality health risks. People over 60 must be healthy in Table 2 or better in order not to be rejected. Most applicants under the age of 60 are only affected if they have serious health problems.

* We assume that all life insurers may need a health declaration before insurance coverage is activated. Our agency has not seen any increase in life insurance rates at this point, but we have seen an enormous influx of new applications.

The GFS represents dozens of top quality life insurers and we are licensed in all 50 states. Call us today 855-247-9555 For the latest updates, you can request a free quote below to compare your options.

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How we can help you find the right policy

Each life insurer defines its own approval process, its maximum expenditure age and its coverage limits. An experienced agent, representing dozens of highly rated providers, can help you navigate your options and save you time and money

Our impartial purchasing services are completely free and our licensed agents offer at least 10 years of life insurance experience. By asking you a few questions about your health and coverage needs, we can quickly identify your best options and provide you with accurate offers.

We have helped thousands of customers and businesses with their life insurance needs and we can help you too. Our agency offers life insurance, permanent life insurance and life insurance without medical examination and immediate coverage.

Keep in mind that life insurance covers coronavirus, but your policy must be active before being diagnosed. Call us today to get a cheap policy with accelerated underwriting and skip the medical exam. You can also compare prices online using our free quote form below.

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Cliff is a licensed life insurance agent and one of the owners of the JRC Insurance Group. Since 2012, he has helped thousands of families of companies with their life insurance needs, specializing in applicants who are not perfectly healthy. In his free time, he likes to spend time with the family, on trips and in the great outdoors.

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