What to Know About Life Insurance and the Coronavirus


Enter your ZIP code to get started

Shield

Free. Simple. Secure.

The coronavirus (COVID-19) has affected lives and industries worldwide, leading many to wonder whether COVID impacts life insurance coverage.

Generally, your eligibility for life insurance isn't significantly affected if you’ve had COVID-19 or received the vaccine. Life insurance provides financial protection, including for deaths caused by COVID-19-related illnesses. However, severe symptoms or long COVID may impact your premiums, so compare different insurers to find the best rates for your situation.

Does Life Insurance Cover COVID?

Life insurance policies generally cover deaths related to COVID-19, whether the virus directly caused the death or contributed to a health decline leading to death. However, certain conditions could affect claim approval.

Coverage may be denied if the insured provided false health information during the application or if fraud is involved. For example, if a policyholder hides their COVID-19 diagnosis when applying for the policy and later dies from the virus, the insurer may deny the claim due to non-disclosure of important health information.

Policyholders must review their life insurance policies and speak with their insurers for the most accurate and up-to-date information regarding life insurance pandemic responses, especially as insurers continue to adapt to new health developments and scientific guidance related to coronavirus and life insurance.

Life Insurance and COVID-19 Impact

Securing life insurance after a COVID-19 diagnosis is generally possible, but applicants may face delays or extra scrutiny. Insurers now typically evaluate the long-term health effects of COVID-19, which can impact underwriting and policy availability. This increased risk perception has led to changes in premiums and policy terms.

For example, people who have recovered from COVID-19, especially those with lingering symptoms, may see higher premiums. Insurers adjust their life insurance underwriting processes to account for these risks, often requiring more detailed medical history and follow-up on post-recovery conditions. This may include assessing the severity of the illness and any lasting effects, such as lung damage or chronic fatigue, which could impact life expectancy and life insurance costs.

vaccine icon
LIFE INSURANCE AND THE COVID VACCINE

During the pandemic, some insurers updated their policy terms to clarify the coverage scope of COVID-19 and vaccinations. Getting vaccinated against COVID-19 doesn't negatively affect one’s life insurance application or coverage terms. Insurers don't consider vaccination status a factor in determining benefits, echoing broader health policy guidelines that encourage vaccination without penalizing policyholders.

How to Get Life Insurance if You've Had COVID

Everyone who has recovered from COVID-19 is generally eligible for all types of life insurance, including term and whole life. The type of policy you choose may depend on any long-term health impacts, with more severe cases possibly facing higher premiums or limited coverage options.

Here's a step-by-step guide to getting life insurance after COVID-19:

  1. 1
    Assess your health status

    Before applying, assess any long-term effects COVID-19 may have had on your health. This can include respiratory issues, fatigue or other lingering symptoms that might impact your application.

  2. 2
    Gather medical documentation

    Compile detailed medical records documenting your diagnosis, treatment and recovery from COVID-19. Underwriters will use them for assessing your application.

  3. 3
    Contact insurance providers

    Reach out to several insurance companies to discuss your options. Be transparent about your COVID-19 history; full disclosure will help insurers provide the most accurate quotes.

  4. 4
    Compare policies

    Consider different types of policies and choose one that suits your needs based on the long-term health impacts you've experienced. This comparison should also extend to how your medical history might affect premiums and coverage.

  5. 5
    Apply for coverage

    Complete the application process with the selected insurer. Depending on the insurer's policies regarding post-COVID applicants, this may involve answering health questions and possibly undergoing a life insurance medical exam.

  6. 6
    Review the policy terms

    Review the policy terms carefully to ensure it meets your needs and that you understand any exclusions or limitations related to your past COVID-19 infection.

  7. 7
    Finalize your insurance

    Once satisfied, finalize your insurance coverage. Ensure that all details are correct and that you've disclosed all relevant health information to avoid issues with future claims.

Applying for life insurance requires disclosing your health status as part of the underwriting process. Insurers may request additional medical records and, depending on when you had the coronavirus, may impose a waiting period before issuing a policy.

mglogo icon
MONEYGEEK EXPERT TIP

Review your life insurance coverage regularly to ensure it still meets your needs, especially after significant life events such as marriage, the birth of a child or a change in financial circumstances.

As life evolves, so do your insurance needs. Periodic reviews can help you adjust your coverage to protect your family adequately, ensure premiums are still competitive and confirm that your life insurance beneficiaries are up-to-date.

Compare Insurance Rates

Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.

widget-location-pin
Insurance Rates

How to File a Life Insurance Claim

Filing a life insurance claim after a loved one passes from COVID-19 involves a few key steps to ensure the process is smooth and respectful.

  1. 1
    Notify the insurer

    Inform the life insurance company of the policyholder's death as soon as possible. This initial contact will typically result in the insurer providing you with claim forms and instructions on how to proceed.

  2. 2
    Gather necessary documents

    Collect all required documents, including the death certificate, the original life insurance policy and any other paperwork the insurer requests. Make sure these documents clearly state the cause of death and any relevant details.

  3. 3
    Complete the claim form

    Fill out the insurance company's claim form. Be thorough and provide accurate information to avoid delays. Follow all the insurer's instructions.

  4. 4
    Submit the claim

    Submit the completed claim form along with all necessary documents. Make copies of all paperwork for your records before submission.

  5. 5
    Follow up

    Contact the insurance company to track its progress. This helps address any issues quickly and ensures the claim is processed promptly.

  6. 6
    Receive the payment

    Once the claim is approved, the insurer will disburse the death benefits as specified in the policy, either as a lump sum or in installments, depending on the terms.

Throughout this process, life insurance companies are equipped to handle claims involving deaths from COVID-19, and receiving the COVID vaccine shouldn't affect the claim’s outcome. While filing a claim during this difficult time can be challenging, understanding these steps can help make the process smoother.

FAQ: COVID's Impact on Life Insurance

Navigating life insurance during the COVID-19 era raises several common questions. Here’s a breakdown to help you understand life insurance and COVID's impact.

Does life insurance cover COVID?

Does life insurance cover pandemics?

Does COVID affect life insurance?

Does the COVID vaccine affect life insurance?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.