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Can I Still Buy Life Insurance If I’ve Had Covid-19?

November 29, 2021

Did you test positive for the Covid-19 virus and still want a life insurance policy to protect your loved ones? Here’s what you need to know beforehand.

Man signing life insurance contract

When once-in-a-lifetime events like the Covid-19 pandemic occur, it’s only natural for people to consider their families and loved ones with an eye towards the future. The peace of mind offered by life insurance – a spouse that won’t struggle to pay the bills, children’s educational needs taken care of, medical bills paid without impacting an estate, and more – is a natural balm for the worry of Covid fears.

Is opening a new life insurance policy a viable option after contracting Covid-19? Thankfully, the answer is yes, although honesty is an extremely important factor in obtaining appropriate coverage.

Much as life insurance payouts have always operated with certain protective clauses, such as the inability to profit from criminal activities, both insurer and insured need to enter into a policy well informed about where they stand.

Not all life insurance companies will offer coverage for new policyholders that have been previously infected with the Covid-19 virus, but those that do will usually state it clearly, or will answer readily if asked. When in doubt, ask your insurance agent directly.

High-Risk People, Places, and Jobs

While an applicant is only required to offer the information requested of them, it’s in your best interests to ask questions and to carefully read any policy you’re considering after a Covid diagnosis.

Exposure risk will be a determining factor in your quote, so if you’ve recently traveled to or reside in a high-risk / high-spread area, or work in a position that frequently risks exposure, be aware these facts may impact your available coverage.

Do not omit requested information or attempt to conceal risk factors; this will only negatively impact results if your policy is needed to protect your loved ones. Your insurance agent is ready and able to honestly answer any questions you may have about the insurance process or your desired policy, don’t be afraid to ask. Remember, they are subject matter experts and whatever your question may be, chances are they’ve already seen the answer in action.

If you are actively infected with Covid-19 and either hospitalized or an inpatient at a medical facility, ask your life insurance agent about their teleconferencing capabilities to keep both yourself and your agent safe. If policy paperwork or forms are necessary to start your policy, keep in mind that most hospitals have a notary public on staff for any official paperwork that may be required.

If you’ve taken steps to reduce your potential of a Covid-19 infection, such as getting a vaccine or a follow-up “booster shot” of the vaccine, be sure to mention that to your life insurance agent. This proactive step may be beneficial to your quote.

Getting a Covid Life Insurance Policy? Let Someone Know.

Covid aftereffects can appear extremely quickly, particularly in the case of the aggressive Delta variant, which can re-infect those that have already had the basic virus, even when immunized.

There may not always be time for an extended outside-the-hospital conversation once a positive diagnosis or relapse of symptoms occurs. Additionally, restricted visitation policies in medical facilities make these discussions nearly impossible after admission.

If you plan to obtain a life insurance policy after you’ve been diagnosed with Covid-19, be sure to make it a well-known fact to all of your beneficiaries, and give copies of policy paperwork to a friend, family member, or lawyer for safekeeping.

At a time when things can feel incredibly chaotic and difficult, having this important information accessible will help support and protect your wishes for your family and loved ones.

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