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Can you guess the exact cost of life insurance?



CAN YOU HAVE A LIFE INSURANCE POLICY UNDER COVID-19?

The COVID-19 pandemic is an unparalleled health event for many of our lifetimes.

Have you ever wondered how someone diagnosed with the virus would be affected when it comes to buying life insurance?

When asked, 10% of respondents said they believe that people who have had COVID-19 cannot get life insurance. Four out of ten people (41%) said they do not know how the virus can affect someone's right to buy a life policy.

The truth: Some insurance companies have developed specific screening issues during the bidding process, related to COVID-19.

In general, a person who has tested positive but has been asymptomatic cannot see any effect on their ability to obtain life insurance. However, a person who has tested positive and been in hospital may see an impact. For eligibility questions, talk to a local professional such as your local ERIE agent.

LIFE INSURANCE AND HEALTH CONDITIONS

How does your general health play a role when you want to buy life insurance?

The survey says: The majority of people know that certain health conditions affect the price of a life insurance policy, but there is some uncertainty. On the question of whether high blood pressure can affect the price of your insurance, 65% of the population said exactly that insurance companies consider that when determining an interest rate. Others (20%) were not safe, while 1

5% mistakenly assumed that high blood pressure did not affect your frequency.

Many were also unsure of how a history of cancer can affect someone's ability to obtain life insurance. Almost one in five (19%) believe that a person who has had cancer cannot get life insurance, while 37% do not know if they can or not.

In fact, cancer along with other serious conditions such as a heart attack or stroke often does not automatically disqualify a person from getting life insurance. Erie Insurance takes into account the type of disease and the degree of severity, the time that has elapsed since the diagnosis and the current medication or treatment regimen when deciding whether a person is entitled to a life insurance policy. ?

According to our survey, most people mention their spouse (59%) or child / children (38%) as their life insurance policyholder. But some people want to take care of their hairy friends who are left. Surprisingly, 10% listed their dog as their beneficiary while 4% listed their cat!

In general, a person cannot literally name a pet as a life insurance beneficiary . This is because pets, legally speaking, are considered property and cannot log out of legal documents.

Read more in our related blog history: How to choose a life insurance policyholder . [19659007] AVAILABLE AND FLEXIBLE LIFE INSURANCE COVER

"As with all types of insurance, what may be right for your neighbor may not be right for you," said Lou Colaizzo, senior vice president, Erie Family Life . "Your agent can help you determine the best life insurance policy for you and your family based on your individual circumstances and needs."

Erie Family Life offers the right coverage and flexible options, helping you build a policy now and adaptable later. Find an ERIE agent near you and start the conversation.


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