If there’s ever been a time to protect your loved ones with life insurance, it’s now.

As of October 2020, the U.S. has close to 7.7 million active cases of COVID-19, and there have been more than 214,000 fatalities tied to COVID-19 so far. Additionally, the Institute for Health Metrics and Evaluation is projecting that U.S. deaths related to COVID-19 will rise to just under 400,000 fatalities by February 1, 2021.

With so much at stake, more people than ever are prioritizing life insurance. A recent industry study found that the number of people who intend to buy a life insurance plan has increased dramatically this year, with 36% planning to buy a policy from a life insurance company within 12 months.

But the question is: Can you still buy life insurance with everything going on right now? Absolutely (and you should if you need it), although the process might look a little different from normal. Here’s what you need to know.

Can you buy life insurance during coronavirus?

Just like auto or home insurance, the key to life insurance is to buy it before you need it, so it’s there to protect you if the worst happens.

But if you’re not covered yet – and many people aren’t – you still have options. Just be aware that some things about the application and approval process for life insurance have changed.

When you apply for a Fidelity Life product, we’ll ask if you:

• have had COVID-19
• have been exposed to COVID-19
• have recently traveled internationally

If you’ve been diagnosed with COVID-19, your application may not be accepted for certain products, or you might be asked to wait until you’ve recovered and apply again.

Some policies, like accidental death benefit or guaranteed issue, aren’t impacted by your health, so you could still qualify for them. Our agents can help walk you through your options and the application process.

When you apply for life insurance, keep in mind that some plans require an attending physician’s statement (APS), meaning the insurer has to request additional information from your doctor’s office. With many businesses experiencing reduced hours and closures, it may take longer than normal to complete the underwriting process and get covered.

Can I qualify if I’ve lost my job because of COVID?

The economic impact of COVID has upended lives across the country, with many people dealing with furloughs, layoffs, and reduced hours. As of September 2020, 12.6 million Americans were still out of a job, according to the Bureau of Labor Statistics.

If you’re currently unemployed but concerned about protecting your family, here’s some good news: You can still get covered. Whether you’ve been laid off recently or are temporarily between jobs, you’re still insurable as long as you intend to resume working.

Being out of the job market entirely, whether for personal reasons or because of long-term unemployment, is treated a bit differently. There may be some restrictions when it comes to certain products and plans, as well as limits on the amount of coverage you can buy.

Have a policy but no job? Check with your carrier if you’re struggling to pay your premiums. Some states are issuing emergency declarations to ensure that policyholders have a longer grace period to make their payments.

Even if you’re still employed, the instability in the job market is a good reminder of the importance of buying individual life insurance in addition to any life insurance that may be provided by an employer-provided group plan. If you have to leave your company, you often can’t take your coverage with you. Purchasing your own policy now can help make sure you’re covered, no matter where your career takes you.

Will I need to take a medical exam?

Some types of life insurance plans require a medical exam, which helps your insurer understand how healthy you are and determines your eligibility and rates. It also confirms the medical information you give on your application, such as if you disclosed a preexisting condition.

With Fidelity Life’s RAPIDecision Life term insurance, you have the option of delaying the medical exam for up to six months after you apply. This means you can get covered right away and schedule an exam in your own time. You may even get your medical exam waived.

When you’re ready to schedule, you will likely be asked additional screening questions to determine if you’ve been exposed to COVID-19. Exams are also prone to delays in areas where coronavirus case counts are high, so make sure to check availability ahead of time and plan accordingly.

If you want to skip the exam entirely, we also offer no exam life insurance plans so you can get covered quickly.

Am I covered if I get COVID?

Life insurance is designed to protect loved ones in difficult situations, like the one many are facing this year. Insurers will typically pay out for any covered cause, including injury and illnesses. Once you’ve bought coverage, the insurance company also can’t make any changes to your terms or eligibility.

Exceptions are rare, but you might be refused coverage if:

• You lied on your application
• You’ve stopped paying premiums
• You have only accidental death coverage, which doesn’t pay out for illnesses

Contact Fidelity Life if you have specific questions about your policy.

In uncertain times, it’s more critical than ever to ensure that you and your family are covered. Getting coronavirus can happen to anyone – don’t put off buying life insurance until it’s too late.

Our team is there to walk you through the application process so you can get the protection you need. Contact us to speak with one of our agents or start your online quote today.

At Fidelity Life, our goal is to make life insurance simple, affordable, and understandable for everyday families. This content is intended for educational purposes only. Each post is carefully fact-checked, reviewed and updated regularly to ensure the information is as relevant as possible.