Coronavirus Pandemic Reminds Us of Importance of Life Insurance

Updated: Sep 19

As of the beginning of May 2020, coronavirus is responsible for almost a quarter of a million deaths worldwide. The coronavirus pandemic has reminded us of all of what is truly important in life. It has inspired a newly discovered gratitude for the simple things. In addition, it has emphasized the meaning of our loved ones. In situations where we have to worry about health and safety, we find some perspective. After all, in a world where things are so uncertain, we have to be sure of taking care of loved ones. Insuring our lives has never been more important. Life is so uncertain, life insurance is not.


Why You Need Life Insurance: The Danger of Coronavirus


The coronavirus pandemic came out of nowhere with a frightening reminder about human mortality. Most of us don’t think about this on a daily basis. When we think we have all the time in the world, we don’t feel pressure to plan. Unfortunately, life is unpredictable and things like coronavirus can pop up at any moment. Thus, it is critical to always be prepared. After weeks of quarantine and social distancing, we are still not out of the woods. The reality is that we truly have no idea how long coronavirus will be a danger to our world population. According to an article from Yahoo Finance, “new data from the University of Pennsylvania suggests that relaxing lockdowns across U.S. cities and states” could lead to roughly 233,000 more deaths across the United States.


Will Coronavirus Be Covered by My Life Insurance?

Amid a global pandemic, many have started thinking about life insurance and coronavirus. Will you be covered? Most life insurance plans should cover any deaths caused by coronavirus, “according to spokespeople from industry research group LIMRA, State Farm and Farmers New World Life” (nerdwallet.com). Of course, you still have to hold up your end of the deal as the consumer. This means making your payments so that your policy does not end up lapsing for delinquency. In addition, ensure the insurance company would have no cause to deny your claim. So, report all information accurately on the required life insurance forms. Finally, make sure you have the correct policy to cover something like coronavirus. For example, accidental death and dismemberment insurance is intended to cover accidents, but not illnesses.


The Takeaway


Of course, we never know what tomorrow will bring. However, we can be confident about our ability to handle whatever comes. We can live each day with the confidence that our loved ones will be provided for in the event that the worst should occur. Even though the vast majority of people who contract coronavirus recover, there are no guarantees. Beyond that, coronavirus is just one of the many threats we face every day. It might be the one that is on everyone’s mind, but we are vulnerable to so many things every day. Don’t be caught off guard. Protect your loved ones today by comparing quotes. Insuravita can help!


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