Coronavirus (Covid19) and getting Burial Insurance

Phillip ChinPublished on March 27, 2020 last updated on September 12, 2024

Many people are wondering how the current situation is regarding getting coverage for Burial Insurance and how Corona Virus (Covid-19) will play a part into this. This article will cover questions regarding if you had the corona virus, came into contact with someone who was disanosed with it or even if you never had it before. We will be answering all of these questions below and if have any additional information, please dont hesitate to call/email us.

What is the corona virus?

Coronavirus disease (COVID-19) is an infectious disease caused by a new virus.

The disease causes respiratory illness (like the flu) with symptoms such as a cough, fever, and in more severe cases, difficulty breathing. You can protect yourself by washing your hands frequently, avoiding touching your face, and avoiding close contact (1 meter or 3 feet) with people who are unwell.

How does it spread?

Coronavirus disease spreads primarily through contact with an infected person when they cough or sneeze. It also spreads when a person touches a surface or object that has the virus on it, then touches their eyes, nose, or mouth.

Who is highest at risk for this virus?

Per the CDC,

People aged 65 years and older
People who live in a nursing home or long-term care facility
Other high-risk conditions could include:
- People with chronic lung disease or moderate to severe asthma
- People who have heart disease with complications
- People who are immunocompromised including cancer treatment
- People of any age with severe obesity (body mass index [(BM]I)≥40) or certain underlying medical conditions, particularly if not well controlled, such as those with diabetes, renal failure, or liver disease might also be at risk

Does Insurance Company ask about the Corona Virus as one of the medical conditions?

At the moment, no insurance company are factoring in corona virus into their decision making. However, they are looking into countries that you have visited that are considered high risk in the last 3 months into consideration.

What if i was diagnosed with Corona Virus, am I still eligble to get a burial insurance policy?

Yes, we have plans that currently offer coverage to anyone with any preexisiting conditions which includes Corona Virus. Regardless if you have it now or if you have recovered from it, they will not penalize you in anyway on getting coverage.

Will insurance rates increase now that there are so many cases of Coronavirus in the United States?

Rates have not changed, we recommend you lock in your rates as early as possible. Pricing will change if you get the insurance at a older age but not because of the corona virus.

WIll payouts on Burial Insurance/Final Expense insurance take longer since there has been a spike of deaths due to the Corona virus?

No, they typically will stay pay out in 2-3 business days.

What if i get an insurance plan now and I get diagnosed with Corona virus in the future, how will that affect my insurance plan?

It will not affect it in anyway regardless what happens in the future. Once you secure a policy with us, no medical condition that arises down the road will change your insurance rate.

Is now a good time to get burial insurance/final expense insurance due to this crisis of the Corona Virus?

It is now more important than ever to get coverage because burial insurance will take the burdern off your loves ones down the road on any final expenses you might have (funeral, creamation). Corona virus biggest impact is to the seniors in this country with the highest death rate. Regardless of the corona virus situation or not, it is always important to have a plan in place now to take care of these final matters and it is critical you look all the options avaliable to you to see if you qualify.

Phillip Chin

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