What’s new at Fortified Futures?
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What’s new at Fortified Futures?
The COVID-19 pandemic has impacted every aspect of our lives, from how we work to how we shop to even how we greet and interact with each other. Many people are struggling with interruptions to their income and possibly even the loss of a job.
In all this chaos, it’s easy to overlook how the coronavirus pandemic could impact some areas of your financial life. One component that may be affected is your life insurance protection. That’s especially true if you are in the market for additional coverage, or if you lost your job and need to replace your employer’s coverage.
Coronavirus and Existing Policies
Most life insurance policies have specific exclusions that allow the insurer to refuse to pay a death benefit. For example, an insurer may have an exclusion against suicide, especially if the act happens recently after the policy is issued. Most policies have exclusions against war or high-risk activities. However, it’s rare for a policy to have an exclusion against an illness or pandemic. You may want to check your policy’s exclusions to be sure.
Having said that, there are other reasons why the insurer could refuse to pay a death benefit. For example, your insurer may not pay a benefit if:
This is a good time to review your family’s coverage and make sure there are no issues that could interfere with your protection. It’s never pleasant to think about one’s own passing. However, a lack of protection could make a difficult situation even worse.
Coronavirus and New Policies
If you’re considering new life insurance coverage, coronavirus may play a role in the process. The pandemic could influence the underwriting process for some insurers. For instance, they may look at:
A financial professional can help you examine your current policies and find the right new policy for your needs and budget. This is the time to make sure you and your family are protected. There is a lot of uncertainty in the word right now, but your family’s financial future doesn’t have to be a part of it.
Let’s connect today and discuss your needs. Contact us today at Fortified Futures.
Licensed Insurance Professional. This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice for your situation. By providing your information, you give consent to be contacted about the possible sale of an insurance or annuity product. This information has been provided by a Licensed Insurance Professional and does not necessarily represent the views of the presenting insurance professional. The statements and opinions expressed are those of the author and are subject to change at any time. All information is believed to be from reliable sources; however, presenting insurance professional makes no representation as to its completeness or accuracy. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. This information has been provided by a Licensed Insurance Professional and is not sponsored or endorsed by the Social Security Administration or any government agency. 20008 - 2020/4/20
Corey was born and raised in Winston-Salem. He began working in the financial services industry in late 2012, after “sleeping on the job” for 17 years in the mattress industry. After realizing, to truly get a good night sleep, one must have a solid understanding of their future and finances. In early 2018, Corey founded Fortified Futures, Inc., with a primary focus to better prepare his clients for retirement and estate planning. Corey is passionate about helping clients better understand their needs through each stage of life.