Skip to main content

Life Insurance is Truly the Misunderstood Insurance

Life Insurance is the most misunderstood insurance

During a global health crisis, it is especially important to ensure your family is protected. According to the City of San Antonio, positivity rates of those being tested for COVID-19 in Bexar County are 16.9% positive, compared to a 3.5% rate just last week. With the increase in positive test results comes a risk of even more San Antonians getting infected, and exposing their families to chances of sickness, or even death. By following city guidelines of wearing masks, proper social distancing, and sanitizing, you can decrease the risk of infection and exposure to this scary, unprecedented disease. 

At SOGO, we don’t normally like to be so heavy, but the latest surge in COVID-19 cases has many of our clients nervous about the future. In the case of health pandemics, one of the only ways we can control the situation is by the way we behave with the information we have at hand. Our choices directly affect the outcome of the health of those around us, so it’s imperative to make smart decisions. Luckily, we can also control one more aspect of how these types of things affect our families. Securing a solid life insurance policy can make the difference in whether or not you’re prepared for whatever is to come in the future. 

Life insurance is a risk management tool, so anytime you have outstanding debts or people who depend on you for income, you should have a life insurance policy in place to protect your loved ones from financial suffering if you die unexpectedly and prematurely. The last thing we want to do is to “scare” our clients into securing a policy. However, it is worth mentioning that with the recent outbreaks and soar in casualties, it is advised that you apply for a policy as soon as possible. There are thousands of other folks like you hoping to secure a plan, and the clock is ticking. Some companies have changed their approach to the application process during COVID-19, and our agents can help weed through the options, saving you precious time. Normally, an in-person visit or medical exam would be required, but some companies are making exceptions and using your pre-COVID health records and travel itineraries as guidelines. 

While we’re at it, let us remind you to stay home and avoid travel during this time. For all life insurance policies, you will face something known as the “contestability period.” If you pass during a certain window of time after securing the policy, the insurer may investigate the cause of your death and deny payment if you misrepresented yourself in any way, especially if you participated in any activities deemed “high risk” like traveling. That being said, not all is lost, as any traditional life insurance policy will not exclude deaths by pandemic, just as they’d cover death from any other illness. As long as you were upfront about your health and travel plans, as well as answering all questions honestly, your beneficiaries shouldn’t face any issues.

We hope our clients stay happy and healthy during this unsure time. We’re hoping that the number of infections dwindles down to nothing and that life insurance policies will only be relevant after you’ve all lived a long, healthy life with our loved ones. While we take the time to stay at home, let’s also take the time to get prepared for anything that could happen in a smart and proactive way. 

 

In case you missed it: “COVID-19 Wedding Season: Dealing With Changed Plans For Your Big Day” will help our lovebird clients deal with mandatory changes you’ve had to make to your wedding plans, thanks to COVID-19-related closures and postponements. We know moving your date around has been a real bummer, so let us help you de-stress, and stay open to changes coming your way. SOGO Insurance is here to help you plan for all kinds of future events, including the “best day of your life,” so call us to discuss options tailor-made for you.