Final expense insurance could protect your loved ones financially if you pass away unexpectedly. It would ease your family's burden since the policy is designed to cover your final responsibilities, including medical bills and funeral expenses. Following the coronavirus pandemic outbreak, people consider getting the right policies as an additional step to become prepared.
If you already have an active life insurance policy, you would not need to worry about your final expenses as long as it covers outbreaks of diseases and pandemics. Your cherished ones would receive death privileges if you ever die of coronavirus-related complexities. Be sure to exhibit honesty and truthfulness about your travel history once you contract COVID-19.
If you paid for coverage that includes a contestability period, it is meant to protect the company from fraudulent information that may be included in the application form. The contestability period usually lasts for two years, and during the span, insurance providers pay claims to ensure transparency from such applications.
It also means that any claims processed in the first two years of your policy are subjected to an extensive evaluation to prove that any information contained in the application is truthful and accurate. If you are confident with the information stated in your life insurance application, you don’t have to worry about your insurance company granting your claims process.
Taking a Medical Exam (context: during the pandemic)
Most applicants are still allowed for a medical examination scheduled in their preferred location in respective states. It is advised to look for a trusted third party exam administrator that assures you to undergo a safety examination process and protect both patients and employees from various diseases.
If you are experiencing illness or the area you intend to conduct an examination is reportedly contaminated, it is best to postpone your schedule to a different date or transfer to another location where you can be assured safe.
Applying for Final Expense Insurance
Suppose you’re planning on going on a trip to a country heavily affected by the spread of the coronavirus disease. In that case, it may also have an impact on your life insurance application. With the current global state caused by the pandemic, the chances are high that you likely have to wait until you return to complete your application process.
Some insurance providers may cancel or move your application approval to another date if you are fresh off an out of the country trip. In other cases, they may also cancel your application in the meantime if found out that a household member had a travel history out of the U.S.
Some insurance companies impose restrictions and limitations on new applications, especially for older and more susceptible ones. Since the pandemic, insurers adjusted their approach while making some changes to their policies. This includes the maximum claimant age and insurable underlying health requirements.
Many people see the value of the final expense since the coronavirus pandemic. The necessity of claiming a policy amid an outbreak would lead you to ascertain the right claims depending on your individual circumstance. As long as your policy includes pandemic and disease coverages, beneficiaries would get death compensation.
At The Medicare Space, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (866) 717-8683. You can also request a free quote by CLICKING HERE.