LegacyFirst.org LLC wants to make sure estate planing is priority #1 during these trying times. That includes life Insurance and will preparation.
We are currently living in quite uncertain times due to the COVID-19 pandemic. With more than 11.6 million cases all over the world and resulting in over 536,000 casualties, you can never know what will happen to you if you end up catching the virus. This is likely one of the most crucial times to consider Life insurance, particularly if you have a family that you care about.
Does Life Insurance Cover the COVID-19 Pandemic?
Many people are reluctant from getting life insurance in fear that they will not receive the coverage that they need. However, considering that most insurance policies will cover death due to illness, epidemics and pandemics such as COVID-19 are also included.
Still, you may want to check your insurance policy as well. Each policy is different, and they may cover a variety of things. This is why you may want to make sure that pandemics are also checked there, to avoid any nasty surprises that can cause exclusion.
The Reasons Why You Need Life Insurance during This Pandemic
There are several reasons why you should generally consider life insurance – but here is what makes it particularly reassuring during this pandemic.
· It can cover funeral fees: The right kind of burial insurance can take care of funeral fees. In the event that the pandemic leaves your family temporarily without a job, the insurance will at least cover the burial costs in the eventuality of a disaster.
· These are uncertain times: With the pandemic taking over the world, it’s either the virus that can kill you or the fact that you can’t receive the proper medical attention. This is why, during these uncertain times, at least you have the cover of insurance.
· It helps support your family: With the economy going down in the way that it currently is, there’s a chance that your family will burn through all the emergency savings in the event of your passing away. Life insurance will help support them until the economy gets back on its feet – and even way beyond.
Life insurance can be the “financial shelter” of your family in the event of your passing. If you are the one that brings the most income in the house, then you should ensure that you have life insurance. This way, you will know that your family won’t go through hardships when you aren’t there to help them.
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