Your Life Insurance Covers Covid-19. If You Need Coverage, Move Quickly
April 1, 2020 by Nick Fortuna
Americans who have life insurance will be covered should they die from Covid-19, the disease caused by the new coronavirus, but those who lack coverage or are underinsured should consider moving soon before coverage options dry up.
If the pandemic worsens, industry experts say, life-insurance companies may institute stricter guidelines for underwriting. Insurers might also increase premiums in the future as many are suffering losses on their investments amid the sharp declines in financial markets.
“I have not seen a policy that has a carve-out or an exclusion for a pandemic,” says Erin Ardleigh, founder and president of Dynama Insurance, an independent insurance brokerage firm based in New York City. Still, she says, now is a good time to beef up coverage.
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