It’s been a tough few months for us all. Throughout lockdown and the pandemic, many of us have realized what is and isn’t important in life. In turn, many have come to understand the importance of securing a whole life insurance policy. Take a look at just some of the ways life insurance in Texas is helping families and businesses during COVID-19.
Life Insurance During the Pandemic
As long as you have a whole or term life insurance policy that is in good standing, it will cover COVID-19. That means if you die from coronavirus-related complications, your beneficiary or beneficiaries will get a death benefit. In addition, your insurance cannot change your premiums or your health classification. This holds true even if you contract COVID-19 or are at a higher risk of exposure due to your job.
A whole life insurance policy has many benefits – one of the major ones being that the policy builds up a cash value. In this financially difficult time, this cash value has been a lifesaver for families who have lost their jobs, seen a reduction in income, and are struggling to make ends meet. Families are able to borrow against this amount so they receive help during this time.
Life insurance remains there for you throughout the coronavirus. While we may be over the worst, there are still cases and we should be doing all we can to reduce the spread of the virus. In short, we’re not out of the woods yet. Having life insurance in place gives us peace of mind that if the worst does happen, our loved ones are protected.
If you don’t have life insurance yet, insurers are still writing new whole and term policies. Getting covered could take longer and cost more than it did before the outbreak began, but there are many options to meet customer needs.