People Are Rushing To Buy Life Insurance: Everything You Need To Know About Doing This Right Now

Updated: May 26, 2020
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People are increasingly rushing to get their finances in order given that we are in the midst of the Coronavirus crisis — doing things they probably should have done earlier — and many are making getting life insurance a priority. Case in point: Forbes recently published an article entitled, “Consumers Panic Shopping For Life Insurance.”

Erin Ardleigh, the brokerage founder of Dynama Insurance told FOX Business* that they are receiving calls from “a lot of people in their 20s, 30s, 40s and 50s.” Overall, demand is skyrocketing.

If you find yourself considering life insurance right now right, here’s what you need to know.

Some Life Insurance Policies Exclude Epidemics And Pandemics, But Most Don’t

First, it’s important to know that not all insurance companies cover pandemics or epidemics. So don’t just go with any insurance company that comes recommended to you.

That being said, according to Ardleigh, a lot do. “When in doubt, you can always take a look at your policy or have someone who you trust to read it for you if it’s really overwhelming or you have any kind of exception or unusual clause in the policy itself.”

What if you’ve traveled recently? Generally speaking, being a frequent traveler doesn’t exclude you from being eligible for a policy with any life insurance company. Still, given the current crisis, it’s important to note that insurance companies take into account travel to countries with known health crises, hostile governments and political instability. For the most part though, insurance companies are putting out the message that this current crisis isn’t going to impact someone’s approval.

With that in mind, it is so important to shop around.

This Is The Best Life Insurance Option For Most People

In times of uncertainty, it’s important to put your family first. Life insurance is an affordable and dependable way to make sure your family is provided for, no matter what happens. The best way to get affordable life insurance if you make over $4,500 a month is with Ladder.

Ladder makes it easy to get flexible and affordable life insurance policies that you can adjust as your financial obligations change over time. For example, if you’re expecting a child, buying a house or retiring soon. This can save you a lot of money over time, too.

Here’s how easy it is to get covered:

  1. Answer a quick questionnaire about your situation in under 5 minutes (no medical exam required)
  2. Get an instant decision – no sales calls, no waiting period, no shenanigans.
  3. Accept your offer

You can apply for coverage with Ladder in just five minutes and get a decision instantly. Ladder offers terms of 10, 15, 20, 25 and 30-year terms, with coverage ranging between $100,000 and $8 million for people making over $4,500 per month.

It has a price lock guarantee so your premium doesn’t go up as you age or if there are any changes to your health. 

Get coverage with Ladder

If A Speedy Application Is Your Priority Here Are The Best Options

If you’re in good health, applying for life insurance should be relatively easy. If you want coverage fast, here are two life insurance companies you can apply for coverage within a matter of minutes.

Haven Life

With policies issued by MassMutual, a leading insurer with 160 years of experience, Haven Life is an insurance provider you can trust. It offers 10-, 15-, 20- and 30-year terms with coverage up to $3 million. You could get a $250,000 policy for a 20-year term starting at just $14.99/month. Apply online right now in less than 30 minutes (without a medical exam if you qualify).

Whatever rate you settle on during the application process will remain the same throughout the duration of your term (many traditional insurance companies increase your rate as you age) and in the event that you fall terminally ill, you can access a portion of your policy early.

Getting a policy with Haven Life also means having access to these three services for free:

  • Trust & Will – an online service that helps you create a legally valid will in 10 minutes, which you can update anytime
  • Aaptiv – A yearly subscription to this fitness app that comes with thousands of workout routines
  • LifeSite – A secure online vault for storing and managing your family’s important documents

Apply for a Haven Life policy

Breeze

Right now, a lot of people around the world are facing the grim reality of not being able to work and with that comes a blow to one’s income. While for some it’s because of the impact the pandemic has had on their place of work, for others, it’s because they themselves have fallen ill.

As we all know, even when you are sick or injured and unable to work, you still have bills that need to be paid and other financial obligations that need to be met. That’s why it’s so important to have a backup plan — a way to make up the income you’re unable to earn. Disability insurance can do that.

Disability insurance can be expensive, but a new company called Breeze is making it easy for anyone to afford it and you could get coverage in just 15 minutes.

Just fill out a simple form, providing information about yourself and details about your occupation, select the coverage you’d like, apply and get covered. Plans start as low as $9/month with benefit amounts ranging from $500 to $20,000.

Breeze covers partial disability, presumptive disability, home modification needs and vocational rehab. It also provides survivors benefits and organ donor benefits.

This current health crisis may just be one moment in history, but it has shown us that anything can happen and your livelihood is nothing to gamble with. Protect yours with Breeze today.

Protect your income with Breeze

*https://www.foxbusiness.com/money/life-insurance-coronavirus-pandemic