COVID-19 and your life insurance.
What you need to know
(2 min read)
1) If you contracted COVID-19, do you have to tell your life insurance company?
No, if you already have a life insurance policy and you contracted COVID-19 you do not have to inform your current life insurance company.
2) Do your current premiums increase if you contracted COVID-19?
No, the price of your current life insurance will not increase.
3) If you contracted COVID-19, can you still buy life insurance?
Yes, COVID-19 does not prevent you from getting life insurance. However, on the application you will have to disclose the fact that you contracted COVID-19.
4) Does getting the vaccine affect your current life insurance?
No, getting the vaccine will not have an affect on your current life insurance policy.
5) Will your life insurance policy payout if you died due to COVID-19?
Yes, your life insurance policy will pay out to your beneficiary and will be tax-free.
6) Is the price of life insurance increasing because of COVID-19?
As of now no, the price is not increasing because of COVID-19.
7) Do you have to meet in person to apply for life insurance?
No, you can buy life insurance through an online application, call us at 905-320-5399.
8) Do you have to do medicals for life insurance?
Depending on the amount you need, your age and your health, you might not have to do any medicals or blood work.
For monthly articles like these, please subscribe: