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Life Insurance in the Times of Novel Coronavirus or COVID-19

  4/7/20 11:36 AM

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The world right now, is going through one of the most challenging times. Businesses are shut, services are suspended and all of us staying at home to protect ourselves from the novel coronavirus. Nobody could have foreseen that a travesty of this magnitude could hit the entire world, all at once. But if this pandemic has made us open our eyes to one simple fact, then that is; life is uncertain.

One thing that can prepare us for uncertainties is life insurance. This is why even when most services are unavailable, the life insurance sector is still functioning.

We have seen a rise in the demand for life insurance over the past few weeks. Our online distribution partner reported a 20% growth in life insurance policies.

It’s not particularly a bad thing, if the pandemic has made you think of buying life insurance. Most of the times, life insurance does not top our list of must-haves. The wise thing to do now would be to use this opportunity and act. The important thing is to get adequate life cover and a plan that meets all your requirements.

For those who have been procrastinating getting a life cover with an excuse of not having enough time to spare for buying a life insurance policy. We are all in our homes 24×7, for the next 3 weeks! We have all the time in the world to buy a life insurance plan online and ensure that if an adversity comes knocking at our doors, our families will still be cared for.

For people who already have a life cover, a reassurance is that most life insurance companies have come forward and announced that they cover COVID-19 as well. Given the scale of misfortunes that so many countries are suffering because of this virus, a term plan that covers it is the need of the hour. So, don't delay any further. The time to get your life insured is now.

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