Life Insurance

Coronavirus and Life Insurance Coverage

Sep 21, 2021
man and child on beach
Now that we’ve all become accustomed to terms like shelter in place and global pandemic, we’re also acclimating to the realities of a COVID-19 world, which leaves your clients with a lot of questions. What steps should I be taking to ensure stability for my family right now? Does this affect my current life insurance policy (if I have one) or my ability to get a life insurance policy (if I need one)? We know you and your clients have questions. So we did our best to provide context and clarity below. If you aren’t seeing your question, our customer service team is standing by ready to help with answers. The information we provide is only in relation to the policies Ethos sells. If you have questions about your clients' policy, contact us now.

Does Coronavirus Impact Life Insurance?

Coronavirus will not impact life insurance policies already in force, and coverage still applies to deaths due to COVID-19. You can still apply for life insurance with Ethos online. It’s important that you're honest on your application about past and future travel plans, and your current health status.

Does life insurance cover the coronavirus (COVID-19)?

Yes, the life insurance policies that Ethos sells cover coronavirus (COVID-19). Although the coronavirus is not explicitly mentioned in the policy contract, death from a pandemic is not considered an exclusion with our term life insurance policies.

This is still true even if your clients traveled recently or have been exposed to someone with the virus. Once a policy is in force, life insurance companies are not allowed to change your health classification or premium.\ \ Can my clients still buy life insurance during the COVID-19 pandemic?

Yes, Ethos is still offering policies through our online application throughout the COVID-19 pandemic. If your clients' application is approved, they will be considered covered as soon as your first premium payment is made.

Do my clients still need a medical exam to get life insurance during coronavirus?

Most Ethos customers do not need a medical exam as part of their application process. Therefore, our ability to provide the majority of applicants with coverage has not been impacted by any quarantine-related restrictions.

On the off chance that we do require a medical exam to underwrite your clients' application, we’ve given our underwriters the discretion to allow additional time if needed to conduct a medical exam given current conditions. We care deeply about your clients' health and safety, and the individuals, employees, and communities we serve remain our priority. We assure you that our examiners are staffed medical professionals who have taken necessary precautions to protect you and themselves from any potential exposure to COVID-19 by following all Centers for Disease Control and Preventions (CDC) guidelines for the protection of your health and safety.

Can my client get life insurance if they recently traveled or plan to travel internationally?

If in the past 30 days, your clients traveled to a foreign country or area that has a U.S. State Department Level 3 or 4 Travel Advisory, like China or Italy, your life insurance application will have to be slightly postponed due to potential exposure to coronavirus/COVID-19. Your clients may submit their life insurance application 30 days after the date they returned to the U.S.

If your clients had planned travel to any affected area, but they attest that they will not travel until the relevant travel advisories related to potential coronavirus exposure have been lifted or that they have canceled their trip, your application for coverage will be considered immediately.

Will life insurance premiums increase for your clients due to coronavirus?

Life insurance rates are not being impacted by the coronavirus. We are not treating this any differently than we would any other illness or travel advisory.

COVID-19 proved that our communities were unprepared for the unexpected, which can serve as a reminder for our personal lives. If your clients haven’t already, now is the time to ensure that their families are financially prepared for the unexpected, and life insurance is an important way to plan for the future. With Ethos, they can even knock that life insurance application out from the comfort of their own home.

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