Four Things To Know About Your Insurance & Covid 19

Life insurance has never seems as important as it does in 2020. A pandemic taking over the world and altering the very fabric of what people once considered normal life will do that. It is now more important than ever to know what your insurance product options are, what your current policy covers, and what you can do to increase your coverage if you are not happy with what you learn about your policy or the company that holds it.

This Covid-19 pandemic is going to reshape our culture for the foreseeable future. This may be a season virus with peaks and troughs, it may slow down for periods before resurfacing, and it will certainly impact communities around the globe at different times and with different levels of severity. Knowing where you stand is vital since it’s now to the point in some areas that those looking for insurance policies are being turned away at numbers never seen before.  So here are four important things to know about life insurance options with where the world currently stands:

Am I covered if I die from the Coronavirus?
The short answer here is most likely yes. As long as your initial policy application was complete and without error – and assuming you have been paying your premiums on time – then the likelihood is that your policy will pay out for a pandemic death. The major exception here is that anyone who bought and maintained an accidental death only policy would not be covered. This type of insurance product option covers you for car accidents and other such unexpected events and does not cover deaths from disease or illness.

Can I still apply for life insurance?
Yes you can. The key here is to be honest on your application, especially regarding questions surrounding your overall health and your travel history. Insurers aren’t looking to deny claims for people who it benefits them to cover, so people under the age of 45 with a clean medical history are far less likely to be turned away – or have a jacked up policy rate – than people who are older with preexisting medical conditions. If you are looking to pick up a life insurance policy then you are advised to do so sooner rather than later by experts in the field.

Are my rates going to spike?
No.  One of the benefits of life insurance as compared to other insurance policies that we carry – such as car or home auto – is that the rates are locked in place for the entirety of the policy. That means that this global pandemic can be taking over the world – or theoretically the zombie apocalypse could be upon us – and your rate would maintain the same level as before. Any company trying to push your rate higher should be reported.

Where are the best deals?
Compare insurance product options and shop around to make sure you are getting the best deal. There are plenty of websites out there that will show you options after completing a short questionnaire and the process has been refined online to the point that it is very simple and effective. Be aware that some insurers may want you to complete a standard medical while others will not. If this is a problem during this period where the doctor’s office can seem like a scary place then count that in as part of your personal decision making process.

Be aware that this is an ever-changing situation. Some states have implemented grace periods into their insurance policies while others are carrying on with business as usual.

Article by Vital Guidance

Best Healthcare & Life Insurance Programs | Are You Properly Protected?

Protecting yourself, your loved ones, your home, auto or your business against unexpected events is a fundamental aspect of wealth planning. Closing the gap on potential risks can be tricky without a comprehensive plan and process that seeks to methodically evaluate all potential risk factors. That’s why risk analysis is an integral part of our ongoing process.

Life Insurance

Life insurance products offer a spectrum of death benefit protection, spousal coverage and cash value accumulation features for a variety of needs. Life insurance is also used as an important estate planning tool, helping to ensure your beneficiaries and heirs are not saddled with an undue estate tax burden. After a careful analysis of your situation and objectives, we can help you obtain the coverage that meets your needs, choosing among insurance programs from many of the nation’s leading providers.

Disability Insurance

For many of us, the ability to work and generate income is our most valuable asset. Protecting it is paramount to achieving your short- and long-term financial goals. Disability insurance helps guard your income and lifestyle from unexpected interruptions during your working years. Adequate disability coverage can ease the burden of lost income or wages while you recover from an accident or illness. It can also help to prevent the depletion of savings or being forced to sell investments at an inopportune time to raise cash for living expenses. We work with many of the nation’s leading insurance providers to tailor income replacement coverage to your specific needs, adding the features that are most important to you and your family.

Long-Term Care Insurance

When planning for long-term healthcare needs, it’s important to keep in mind that:

  • Medicare is not nursing home insurance and does not cover long-term care
  • Private medical insurance or Medicare supplement plans do not cover maintenance care

Long-term care insurance can help manage healthcare costs and reduce the impact of inflation, while ensuring your healthcare needs, and those of loved ones, are covered well into the future. Adequate financial planning now can help prevent a lifetime of assets from falling short when you need them most.

Other Insurances We Provide

  • Home
  • Auto
  • Commercial/Professional Liability

Auto Carriers Include

  • Allstate
  • Travelers
  • Progressive
  • Safeco
  • Mercury
  • MetLife
  • Infinity
  • Foremost
  • Windhaven
  • American Collectors
  • Hagerty

Home Carriers Include

  • Tower Hill
  • American Integrity
  • Security First
  • Anchor
  • ASI
  • Bankers
  • Elements Property Insurance Co.
  • American Traditions
  • Modern USA
  • Heritage
  • Avatar
  • Cypress
  • United
  • Universal Property & Casualty
  • Florida Peninsula
  • Edison
  • Federated National
  • Homeowner’s Choice
  • Citizens

Commercial/Professional Carriers Include

  • Allstate
  • Philadelphia Insurance Co.
  • Bankers
  • Federated National
  • Ascendant Underwriters
  • Cypress
  • Summit
  • FUBA
  • Grenada
  • Hull & Company
  • Appalachian
  • All Risks
  • Shelly, Middlebrook
  • Mcneil
  • Clearwater Underwriters
  • Halcyon
  • Regency
  • Swett & Crawford
  • Bass Underwriters
  • IB Green
  • Tapco

Life Carriers Include

  • Allianz Life
  • Allianz Preferred
  • American Equity
  • American General Life & Accident Ins. Co.
  • American General Life Ins. Co.
  • American National Ins. Co.
  • American National Ins. Co. of NY
  • Assurity Life
  • Athene Annuity & Life Assurance Co.
  • Athene Annuity & Life Assurance Co. of NY
  • AXA Equitable Life Ins. Co.
  • Banner
  • Brighthouse Life Insurance Co.
  • Brighthouse Life Insurance Co. of NY
  • Fidelity & Guaranty Life
  • Gerber Life Insurance Co.
  • Global Atlantic
  • Great American Life
  • Integrity Life
  • John Hancock Life Ins. Co.
  • John Hancock Life Ins. Co. of NY
  • Lincoln National Life Ins. Co.
  • Lloyds of London
  • MassMutual
  • Minnesota Life Ins. Co.
  • Nationwide Life
  • North American for Life & Health
  • OneAmerica
  • Oxford Life Ins. Co.
  • Pacific Life Ins.
  • Pan American Life
  • Principal Life Ins. Co. – NY only
  • Principal National Life Ins. Co.
  • Protective Life Ins. Co.
  • Prudential Life
  • Reliance Standard
  • Sentinel Security Life
  • Standard Ins. Co.
  • Symetra Life Ins. Co.
  • Transamerica
  • United of Omaha
  • United States Life Ins. Co. in the City of NY
  • William Penn
  • Zurich American Life Ins. Co.

Where to start?

Florida’s minimum auto coverage is $10,000 personal injury protection (PIP) and $10,000 property damage liability (PDL) as long as you have a valid Florida license plate. However, you should explain to your agent why you want the minimum as many other financial aspects of your life could be at risk if you’re involved in a major accident. If you have a family, the risks are even greater. Make sure you and your loved ones are adequately protected . . .

Picking the right insurance company

As the commercials make clear, shopping for car insurance can be frustrating. That’s in part because auto insurance pricing is largely a black box for consumers. While the price a consumer pays for insurance is based on a risk estimate derived from demographics, past traffic violations, and claims history, each carrier uses the data in a unique, closely guarded way to calculate a price, and the number of prices for a given risk is as large as the number of insurers. Thus, it is difficult to be sure that you have the best price, or even a decent price, and many consumers are skeptical of the fairness of the entire process. That’s why we run a comparable analysis among many carriers to help give you peace of mind when it comes to selecting an insurance carrier.