Would my life insurance policy cover covid-19 related death?

Cesar Homenick asked a question: Would my life insurance policy cover covid-19 related death?
Asked By: Cesar Homenick
Date created: Wed, Apr 21, 2021 8:35 AM

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FAQ

Those who are looking for an answer to the question «Would my life insurance policy cover covid-19 related death?» often ask the following questions:

❓ Does your life insurance policy cover coronavirus?

At this point coronavirus term insurance essentially implies that in case of any eventuality caused due to the COVID-19, a life insurance policy will take care of you and your family. The importance of this coronavirus insurance cannot be overlooked as the spread of this infectious disease has got no limitations.

❓ Can a life insurance policy cover illegal drugs?

  • This includes both illegal street drugs and prescription medication that you don't have a prescription for in your name. Furthermore, many life insurance policies these days have specific exclusions for illegal activities, such as felonies and even misdemeanors.

❓ Does your health, life insurance policy cover coronavirus?

If you or a loved one has to make a claim on a life insurance policy as a result of COVID-19, it should be handled like any other life insurance claim and would be paid subject to the usual policy terms and conditions. COVID-19 in itself is not classed as a 'critical illness' so it is highly unlikely that a critical illness policy will pay out if you develop non-complicated COVID illness.

9 other answers

— In most cases, people who have term or whole life insurance already will be covered, which means insurance companies will pay out for deaths related to COVID-19. However, a local lawyer explains...

Traditional life insurance policies, such as whole and term life, likely cover deaths from COVID-19, according to spokespeople from industry research group LIMRA, State Farm and Farmers New World...

Does Life Insurance Cover Coronavirus? First, the good news. With possible exceptions, your permanent or term life insurance policy is very likely to pay full death benefits should you succumb to the disease. This assumes that you have one currently, and you remain current on your premium payments.

"If the deceased person had a life insurance policy, then the nominee or the beneficiary nominee must know that the death caused by health-related issues are generally covered under a life insurance policy including term insurance," says Santosh Agarwal, Chief Business Officer, Life Insurance, Policybazaar.com.

Most insurance companies have answered queries of whether their term insurance plans will cover death due to COVID-19. They have stated that death due to COVID-19 will be treated as a regular death and there will be a regular payout as determined by the plan.

Shopping for life insurance may be complicated by the coronavirus, but everyone still has options. If you’re already covered, the death benefit will be paid to your family if you pass away from a pandemic-related illness. Life insurance offers financial protection for your loved ones if you die unexpectedly.

The life insurance companies have clarified that death due to Covid-19 will be treated as a general death and the claim will be admissible if the coronavirus was diagnosed post policy issuance. They further added if the doctor certifies that the death has occurred due to Covid-19 disease, death benefits shall be payable post investigation and scrutiny of medical documents by their medical team.

Will getting a COVID-19 vaccine make you ineligible for life insurance? We already know that being vaccinated against COVID-19 isn't a reason for a life insurance company to deny a death benefit....

So a death being caused directly by receiving a COVID-19 vaccine has almost no chance of happening. But inevitably with enough people receiving shots it will occur. The good news is that a life insurance company can not deny a claim for a death caused directly or indirectly by receiving a COVID-19 vaccination.

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