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Life Insurance And Coronavirus: No Exam Required
The coronavirus has made shopping for life insurance a little complicated, but everyone still has options. If by chance you’re already covered, the death benefit will be paid to your family if you pass away from a pandemic-related illness.
Life insurance and coronavirus
The recent pandemic made many people rush to secure their family by getting online life insurance coverage. There is an influx of applications, to acquire life insurance plans online in the United States. Although it is a good sign for many insurance providers, it is a huge amount of work for them.
Applicants can get affordable term life insurance coverage for their family’s future despite the pandemic. Many insurers already simplified their application and approval process. In the times of life insurance and coronavirus, there is no need to meet personally or undergo a medical examination. These are risky activities that people should avoid at all costs. The application process can start online or over the phone. One can get the insurance coverage that they need within 24 to 48 hours. You can ensure that your family is covered if you die of any cause except SUICIDE.
Pandemic clause in insurance
As long as a life insurance policy is in good standing and the current premiums, it doesn’t matter how the policyholder dies. So if a person dies as a result of COVID-19, their beneficiaries will almost certainly receive the policy’s death benefit. That is unlike some other types of insurance, such as travel insurance, which may have COVID-19 or pandemic exclusions.
Does insurance cover pandemic
THE FACTS: Life insurance policies have not changed because of the COVID-19 vaccination and getting the shot will not impact whether a policy pays out in the event of death, according to the American Council of Life Insurers.
Are insurance companies paying for covid
Term life coverage will pay your beneficiaries if you die because of illnesses caused by Coronavirus, heart attacks, cancer, and other types of health-related causes. Aside from that, you are covered if you die because of an accident. However, one should keep in mind that death caused by suicide is not covered from the first two years of the policy.
Moreover, one can choose policies with living benefit features like the one from Prudential. It means that the policy can cover medical expenses and hospital bills if you get sick. With Prudential, you can opt for accelerated death benefits. It can provide access for insured to get their death benefit if they are diagnosed with a terminal illness.
The only way an insurer can deny a policy claim is if they have proven an act of fraud from the first two years of the policy. That’s why applicants need to be honest during the application process. However, these cases are very rare, but clients still lied about their current health status upon application.
If you purchase the policy before you are diagnosed with Coronavirus, then your family will be covered. In case you recently got any health problems, the insurer will not approve the claim until you have successfully recovered and completed treatment.
Does life insurance cover death from disease
Savings Bank Life Insurance Company or SBLI has its version of affordable term life insurance coverage with an easy approval scheme. SBLI offers it with no medical exam, and it is available for all between 18 to 60 years old with excellent to a fair health condition.
Moreover, it does not require any face to face interaction. An insured can get coverage of $500,000. The whole process is entirely done online or over the phone/Zoom. Also, the company is very lenient with other health issues like:
- Anxiety
- Depression
- GERD
- Asthma
- Blood pressure
- Skin Cancer
- Benign Prostate Disorder
- High Cholesterol
- Crohn’s Disease
- Type 2 Diabetes (diet controlled)
- Sleep Apnea
- Hepatitis A and B
- Thyroid disorder
- Ulcerative Colitis
Although SBLI is the best option for many people, it is not fit for everyone. Some other providers may have better options depending on your age, health status, gender, and the amount of coverage you need.
For instance, Penn Mutual, an A+ rated insurance company, can offer around $5,000,000 coverage for both term and permanent life plan without any medical examination. The same as the SBLI, their policies are available over the phone, and the waiting period is also two weeks.
If you want a personalized quote according to your age and health status, you may call us at 800-342-1537 or go online to https://coachbinsurance.com. Our expert and experienced agents can handle all your queries.
Prudential Term Life
If you are looking into Prudential as your future insurer, you need to know more about the PruFast Track program. It can offer term life coverage for up to $3,000,000 without a medical examination. Any applicant under the age of 60 is qualified to apply, and they do not require any face to face transaction.
The company also specializes in cases of overweight and obesity and people with Type 2 Diabetes. Also, they are the best insurer for those suffering from high cholesterol. Most policies are being offered together with ADB living benefits rider that provides insureds the right to get their death benefit in case of a terminal illness.
Furthermore, the company has an A+ rating from A.M. because of their financial stability, and they have been serving policyholders for more than 145 years. If you are interested in Prudential, you can contact us anytime through the phone number above. My how times have changed during the life insurance and coronavirus pandemic.
What does life insurance not cover
Life insurance covers most types of death, but if you lie on your application or die under certain circumstances — such as suicide within the first two years — your policy might not payout
- Lying
- Risky Hobbies
- Murder
- Suicide
No Examination Rates
The below table will show you possible rates for a no exam term life policy based on age and gender. However, take note that the rates mentioned below are for those who are a non-smoker with good health condition.
No Exam Rates for A Male (10-Year Term)
Current Age | $100,000 | $250,000 | $500,000 | $1,000,000 |
35 | $7.31 | $9.68 | $14.06 | $23.91 |
40 | $8.60 | $11.83 | $17.20 | $31.56 |
45 | $11.10 | $16.81 | $27.09 | $44.72 |
50 | $14.71 | $25.21 | $42.44 | $104.67 |
55 | $20.81 | $40.50 | $70.00 | $197.47 |
60 | $31.76 | $64.05 | $114.62 | $319.35 |
*These are rates are accurate as of 11/28/2020 and are provided for illustrative purposes only.
No Exam Rates for A Female (10-year Term)
Current Age | $100,000 | $250,000 | $500,000 | $1,000,000 |
35 | $7.10 | $8.98 | $11.96 | $19.82 |
40 | $8.27 | $10.86 | $15.54 | $24.06 |
45 | $9.89 | $15.15 | $24.30 | $43.84 |
50 | $12.56 | $19.76 | $32.51 | $84.40 |
55 | $18.17 | $30.87 | $53.37 | $143.07 |
60 | $24.93 | $44.91 | $77.00 | $196.17 |
*These are rates are accurate as of 11/28/2020 and are provided for illustrative purposes only.
These rates given are not final. If you want a more accurate quotation base on your age, gender, and health status, you can call us at 800-342-1537. In case you are not yet ready to talk to our agent. Feel free to use our online quote and apply platform to make your comparison from diverse reputable insurance providers.
How Can Coach B Help You During This Time Of Coronavirus?
As an independent insurance broker agency, Coach B. is connected to more than 50 highly rated providers in the entire United States. Our agent will ask a few questions regarding your health and needs. They can give you expert advice and the best choices according to your unique needs.
You do not have to pay anything to apply for life insurance through Coach B. Can apply using our quote and apply platform or you can talk to us at 800-342-1537, and we are always glad to serve you.
About Coach B.
After starting his financial career with Phoenix Home Life Insurance Company back in 1992, Scott decided he wanted to provide people with an easier and more enjoyable way to buy life insurance. That was the start of Coach B. Life Insurance, whose mission is to be transparent, honest, and helpful to customers — without ever bugging or pushing them.
In the years since then, he has worked tirelessly to improve the process of shopping for insurance. His goal is to make sure that everyone who comes to Coach B. — whether they end up buying a policy or not — has the best possible experience.
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