Can You Get a Life Insurance Policy During COVID-19?

“There’s no reason not to apply right now.”
June 10, 2020

Experts say consumers can still buy life insurance during the coronavirus pandemic, but applicants are still expected to fill out a thorough health history questionnaire. The insurance industry determines rates and risk based on long-term mortality and health-related data, but data related to COVID-19 is limited to months. “I think it's premature at this point for the industry to be setting tougher restrictions on either age or preexisting conditions,” says South Carolina Department of Insurance Director Ray Farmer and President of the National Association of Insurance Commissioners.

It’s got to be data-driven, and there's not enough data yet to tell you what the long-term effects will be. For a regulator, I think the answers to those questions are still a couple of years away.” Farmer adds, “If someone thinks a life insurance policy is going to benefit them or their family in the long run, there’s no reason not to apply right now.”


Navigate in this section: