I wanted to take the time to answer a few questions about COVID-19 and your life and disability income insurance policies.

How does the pandemic impact your life insurance?

The coronavirus will have a larger impact on people who are applying for a life insurance policy than those who already have a policy in place.  A global health crisis like COVID-19 can make applying for life insurance more complicated.  But as long as you have active policy in place, if you were to pass away of a pandemic illness, your family would still receive the death benefit, even if you had knowingly traveled to areas with a known disease outbreak.

How does the pandemic impact your disability insurance?

Disability Income Insurance protects your greatest asset; your ability to earn an income. If you are already covered, your policy will cover you the same as any other illness. You must satisfy your elimination period, typically 90 days and you must be unable to work due to a sickness or injury. With disability insurance, you need to prove a loss of income related to the illness or injury, which is typically around 20 percent. The process could take up to six months.

When it comes to protecting you and your loved ones, we are always here to help and guide you.  If you have questions about your policies, need to purchase new policies, increase your existing policies, or even just have us review your policies with you, now is a good time to do so.  You can email us at kfahmy@fahmyassoc.com or call us at 703-760-4630.