Share on facebook
Share on twitter
Share on linkedin
Share on email

As COVID-19 continues to surge through communities across the globe, it’s natural for people to raise questions about their life insurance policy and the effects that the coronavirus may have on their coverage. We’re covering five common questions about life insurance and coronavirus in 2022.

The COVID-19 vaccine has had an impact on my policy 

One common question about life insurance and coronavirus is how the vaccine can affect your policy. According to the American Council of Life Insurers (ACLI), the COVID-19 vaccine does not have any impact on an insurer’s decision to pay out claims. “The fact is that life insurers do not consider whether or not a policyholder has received a COVID vaccine when deciding whether to pay a claim,” says ACLI Senior Vice President, Policy Development Paul Graham. The vaccine is also not a factor when insurers determine your eligibility for a policy.

Read More

About what to expect on a life insurance application 

Life insurance through your employer is sufficient
Taking advantage of group term life insurance rates through your employer’s life insurance policy is a great way to supplement individual life insurance coverage, but an employer group policy is usually not enough by itself. If you were to lose your job or change employers, your work-sponsored coverage generally doesn’t come with you. Even more, your employer usually only covers up to one- or two years’ salary in your policy amount. Your loved ones would likely need more financial support to continue their standard of living if you were no longer around.
Surviving COVID-19 could make getting a new life insurance policy difficult
Having previously contracted the coronavirus does not impact your ability to qualify for a life insurance policy at this time. Also, it generally does not impact your premium prices, but this could change in the future. It is always important to be honest on your application for life insurance coverage, sharing any details about previous travel to areas heavily impacted by the pandemic or other exposures if prompted. If the insurance company discovers that you lied about a health condition, risky activity, tobacco use, or travel to countries with potential health risks, the company could increase your premium, deny a beneficiary’s claim to the death benefit, or even cancel your coverage.  
Life insurance is getting more expensive

It is still too early to tell if the coronavirus will have lasting effects on policy premiums, as medical professionals will need to assess the real long-term impact of the virus. If there are long-term health effects connected to COVID-19, this could affect life insurance underwriting policies in the future, but for now, nothing has changed.

This is one of the most common myths about life insurance, but, in reality, life insurance can be very affordable! According to a study from LIMRA and Life Happens, “Forty-four percent of Millennials estimate that the annual cost of 20-year term life insurance for a healthy 30-year-old at over $1,000 when it’s closer to $165 per year.”

Quility Level Term, a term life insurance policy offered exclusively through Quility, provides some of the lowest rates available, with coverage starting as low as $18 a month. Term life insurance is recommended for most individuals who are looking for customized, affordable coverage that covers the period in their lives when they have financial dependents.

Read More

Check out these monthly expenses that cost more than life insurance.

You don’t need life insurance if you’re young and healthy
This myth about life insurance is one of the most commonly asked questions we receive. Getting a policy when you are young and healthy is the best time to get covered, as your rates will be the most affordable and you can qualify for higher coverage amounts. Your life insurance premium is based on your general health and your age at the time you apply for coverage, so securing a policy while you have time on your side is a great way to save money long-term! Even more, life insurance isn’t just for the head of the household – if you leave behind any sort of financial burden if you were to pass away tomorrow, you need to get life insurance. If you have children, own a business, or provide financial support to others, you need life insurance.
Ready to get  life insurance?

With Quility, you can apply for coverage for our Quility Level Term life insurance policy entirely online and get your policy delivered to your inbox in 10 minutes or less. No doctor’s visits or consultations are needed. Get started on our online application to get affordable life insurance that fits your life and budget. It’s that simple! 

Let’s Get Started

If you are ready to get coverage now, our online application takes less than ten minutes.

Related Articles

Quility's Year in Review 2021
Quility’s Year in Review: 2021
Quility Raises $217k for Make-A-Wish Central and Western North Carolina During Virtual Auction
Quility Raises $217k for Make-A-Wish Foundation During Virtual Auction
Quility Level Term life insurance
Quility Level Term Life Insurance: Now Available!

Featured Articles

5 Myths About COVID-19 and Life Insurance
Life Insurance | 5 Myths About COVID-19 and Life Insurance
people hiking just got life insurance
5 Tips for Buying Life Insurance for the First Time
father and child with life insurance
Do You Need Life Insurance?

In order to qualify for Debt Free Life, a customer must be paying their bills on time and/or making overpayments on their existing loans.

Total Consumer Debt

Please include your personal loans, credit card debts, auto loans and any other debt you have accrued. Please exclude any mortgage balances.

Have questions?

Get in touch with us today at (888) 784-5489 or chat with an advisor.
Gender at Birth

If you do not identify with either male or female, or if you identify with a gender that is different from your gender at birth, please select your gender assignment at birth for your application for coverage. Insurance rates are determined by your sex at birth, so providers require us to ask this.

If you have any questions, please feel free to contact us – our team is committed to making sure all customers feel welcome and respected.

Enter your email to download the full life insurance guide!

You can download the guide directly from our site and sign up to receive our newsletter.

Disclosure

The rates shown are based on past examples of quotes provided to people based on their demographic information. These are examples of the kinds of rates you can expect. All life insurance quotes and approvals are based on age and overall health at the time of purchase. Generally, non-smokers in good health will get the most affordable life insurance rates.

To get your real rate, fill out our short form.

Disclosure

The samples shown above are real numbers from past Debt Free Life clients. They are examples of the types of quotes you can expect but are presented for example only.

To get your real rate, fill out our short form.

Disclosure

The rates shown are based on past examples of quotes provided to people based on their demographic information. These are examples of the kinds of rates you can expect. All life insurance quotes and approvals are based on age and overall health at the time of purchase. Generally, non-smokers in good health will get the most affordable life insurance rates.

To get your real rate, fill out our short form.

The Basics

Resources to help you select the right insurance solution for your family.

Life Insurance 101

Your most asked life insurance questions, answered.

Blog

Informative articles on life, insurance and retirement.

FAQs

Get the answers to all of your life insurance questions

Featured Blogs

Get a Quote

See how affordable Life Insurance can be.

  • I was born on

  • My gender at birth was

  • I have used nicotine or tobacco products in the last 2 years

  • I'm looking for coverage in the amount of

  • With a policy length of

    Policy length help…

    This is how long your policy will be in force. We typically recommend choosing the length of time that your beneficiaries will be dependent on your income.

    Want help from an expert?

    Contact our support team at (800) 994-9916 or inquiries@sfglife.com.

  • My Contact Information

Coverage
for as low as
$12
per month*