Life is full of risks, and life insurance is there to ensure that we can face those risks with the peace of mind and support possible. We understand that life insurance is to protect the insured in the event of serious illness, death, survival, or disability.
In this sense, since the end of 2019, the world has been involved in a health crisis, and this is where we ask ourselves if these times of pandemic force us to obtain life insurance.
Do we need Life insurance in the time of coronavirus?
According to the World Health Organization (WHO), we have to learn to live with COVID-19 for at least two years. Meaning that we will be in contact with the virus for that amount of time. If we are not covered, we will be exposed to risk hugely.
As already seen, many people have refused to wear masks in public places, putting us all at risk of infection. For this reason, we must be more cautious and take all possible measures to protect our family from COVID-19, and obtaining life insurance is the best step.
What should we consider when purchasing life insurance?
First, you should consider before purchasing life insurance. You will have to pay a regular amount of money for the duration the contract is acquired. In exchange for your payments, the insurance company will have to cancel, when your death occurs, compensation, one or more people that you have selected as beneficiaries.
Second, life insurance covers any eventuality, since deaths from any disease or ailments of any kind such as cancer, stroke, among others.
However, some insurance companies have in their contract exceptions or clauses, for example, suicide after the first year of the policy, the policy does not recognize the falsification of medical reports delivered to the company or death due to epidemics or pandemics.
Should you thoroughly review the contract?
And the answer is yes because that ensures the insurance company you select covers what you need in these times of pandemics. In case you are not clear about what you want in your policy, you can hire the services of agency insurance that will advise you and show you a plan that suits your needs.