Germania Today | Winter 2020

Four things

you need

to know about buying life insurance

R during


3. Traveling to high-risk areas could impact your approval for coverage. Germania Life

esearch shows most of us agree we need life insurance but don’t actually buy enough – or have any coverage at all. The COVID-19 pandemic has only heightened consumers’ sensitivity to the need for life insurance. According to LIMRA, nearly half of Americans have no life insurance, but they are shopping. The same study shows that an all-time high of 36% of Americans are planning to purchase coverage in the next 12 months. Here’s what you need to know about buying life insurance during a pandemic and how Germania Life can help: 1. You can still get life insurance during COVID-19. In fact, it is strongly encouraged. Germania Life’s underwriting guidelines have remained the same and medical exam companies are running on normal schedules. There are no coronavirus exceptions on our policies; however, a new Statement of Good Health disclosure is now required on all applicants prior to a policy becoming active. If no health changes or COVID-19 exposure have been reported, applicants will be approved. Germania Life accepts e-signatures on applications and policy documents if you are not comfortable visiting in-person. 2. Don’t assume life insurance is expensive. Germania Life offers a variety of insurance products that can be tailored specifically to you and your family needs. Can’t financially commit to a Whole Life policy? Germania offers an affordable Decreasing Term product that decreases over the life of the policy, making it Germania Life’s lowest term product. You can learn more about Germania Life’s products at insurance.

has had travel restrictions in place even before the pandemic began. Foreign travel of any kind must be reported at the time of application if the trip

has recently occurred or is planned. Depending on the type of travel and the location of travel, a Foreign Travel Questionnaire may be requested. 4. Your existing Germania Life policy

may cover the coronavirus. Germania Life insurance policy language states that any natural cause of death will be payable upon death, which would include a death caused by the coronavirus. The two-year contestability clause still remains in force for all new insureds and would be handled according to Germania Life’s claim guidelines. It’s important to be honest when filling out a life insurance application – global pandemic or not. Giving honest information from the start ensures you won’t have to worry about a claim getting denied for any reason down the road. Request a Germania Life insurance quote today at or contact the team directly at or 979-836-5224, ext. 2060.

Winter 2020 | 7

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