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All about COVID-19 & Life Insurance concerns

With the current situation, many people are now putting the spotlight on financial planning and life insurance is a big part of that. Everyone has questions and at JCT Insurance Agency, we want to provide some answers and peace of mind. We are 100% independent brokerage who shop on the open market with 30+ A rated carriers in the country. Private message me on Facebook or email me directly on my company website. My staff and I will provide all term quotes within 12 hours and 24 hours for Whole/Universal Life proposals. I will be with you every step of the way throughout the process, no random representative answering your call or email. I am your broker and your case manager.


Q & A


Q: Does my policy cover death from COVID-19 or a pandemic?

A: As long as you were honest on your application about preexisting conditions and plans for travel, you are safe. We only work with top A rated carriers in the country, there are no hidden exclusions and all life insurance policies cover death from COVID-19 and a pandemic overall.


Q: Will my coverage end if I can’t afford to pay my premiums?

A: We are here to support our customers during this time of uncertainty and financial hardship. Customers who are concerned about maintaining their monthly premiums should contact their life insurance carrier to see all their options. Typically they give 2-3 weeks of grace period after due date but in our current situation, depending on your carrier, they may grant you a longer grace period.


Q: Does the two-year contestability period impact whether I’m covered from death by COVID-19?

A: First, some background: your life insurance policy is a contract between you and a life insurer. A two-year contestability period is a common clause across the industry that protects insurers from fraud or false information on applications within the first two years the coverage is in place.

Life insurance companies do pay claims during the two-year contestability period. That said, any claims made within the first two years of owning a policy will be more thoroughly reviewed to ensure application information was truthful and complete. If you honestly answered the questions in the life insurance application, then you have little reason to be concerned about whether or not a claim related to COVID-19 would be paid.


Q: Can I still buy life insurance during the COVID-19 pandemic?

A: Yes, you can still apply for term life insurance and, if approved, get coverage started immediately. If you need to take a medical exam to finalize coverage (which you will be notified of when your application is submitted), please note there could be limitations in availability during this time. All applicants have 120 days to complete the medical exam, and in many cases, you will be able to have temporary coverage in place until you take the medical exam.


Q: Can I get coverage if I recently traveled to or plan to travel to China, Italy or other affected regions?

A: Underwriting guidelines as a result of COVID-19 are evolving. There may be additional questions in the underwriting process about international travel and potential waiting periods for a decision as a result of travel.


Q: Are life insurance premiums going up as a precaution?

A: No, life insurance premium are not increasing as a result of COVID-19. Please keep in mind that if an applicant contracts an illness, then that could increase the cost of the premium or make an applicant ineligible for coverage.


Q: Are you still performing life insurance medical exams?

A: In most states, applicants are still able to schedule the medical exam to be performed at a location of their choosing. The third-party exam administrator we use, ExamOne/EMSI, has rigorous safety procedures in place to protect patients and employees from coming in contact with infectious diseases.


Q: If I’m sick should I take a medical exam?

A: Generally, if you are experiencing any type of illness or infection, it’s advisable to postpone taking the life insurance medical exam until you feel better. Being under the weather can skew the results of your medical exam, which would not present the underwriting team with an accurate depiction of your health.

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