What You Should Know About Covid-19 and Life Insurance
The pandemic of 2020, COVID-19, has significantly changed life insurance policies and one’s view on life insurance. Perhaps most noticeably, we’re seeing more and more people talk about life insurance and more younger individuals purchasing policies. It seems like COVID-19 has gotten people asking themselves, “if something were to happen to me today, would my family be taken care of?”
Before we discuss life insurance policy updates as a result of COVID-19, let’s get a better understanding of the different types of life insurance policies you can purchase and why life insurance as a whole can be beneficial.
What is a Life Insurance Policy
Life insurance can be quite confusing to understand. Most people think of life insurance as a safety net for a family should the primary family member be affected. Life insurance is so much more than safety. While it can provide you and your family with financial aid, there can be many more benefits attached.
James Little Insurance offers a range of different life insurance policies to ensure you or your family are taken care of during hard times. We offer term, universal, and whole life insurance policies. Term Life Insurance is the cheapest option if you’re on a budget. It provides you with financial coverage for a set period, such as a few years, but it gives no cash value.
Universal life insurance is a lot more flexible and affordable than Whole life insurance. It can be customized to fit your lifestyle, and it allows you to access your cash value. If you prefer whole life coverage and a policy that builds cash value, we suggest Whole Life Insurance. This type of approach will ensure your family is financially protected permanently.
COVID-19 Updates around Life Insurance.
There doesn’t seem to be any evidence suggesting insurers are pulling out of the market. This means purchasing a policy is still relatively straight forward. That being said, many insurance companies have added COVID-19 specific questions to their policy. Now, you might be wondering what these questions are? The questions will vary based on which insurer you go with, but some example questions may include:
- Did you travel out of the country within the last 30 days?
- Have you been in contact with anyone diagnosed with COVID-19?
The price, premiums, and coverage provided by a life insurance policy will vary from provider to provider, so it’s crucial to contact an agent at James Little agency for quotes on what best suits your lifestyle and price point. Today life insurance is more important than ever. The pandemic has been a wake-up call to most of us, and so it comes with no surprise that more and more people are requesting quotes on their policy. Purchasing life insurance can seem like a daunting task. There are simply too many insurance agencies and terms you may not understand.
At James Little agency, we work for you and not the insurance companies. We are an independent insurance agency that can provide you with policy quotes from multiple insurance companies. By providing multiple quotes, you’ll be able to get the full picture and choose what policy best suits your budget and price.
Call us today at +1-817-380-4952 if you have any questions.