Latest Information on COVID-19

Yes, if you need insurance. Regardless of the pandemic, you should be buying insurance to protect you and your family at the earliest possible time. Covid is only a reminder of how quickly life events can change.

Conversely, if you have no need for life insurance then it should not be bought, regardless of how good the deal is.

A bit. Confirming your identity no longer needs to be in person, we can do it on Facetime or Zoom! And buying insurance online is now easier with higher limits for non-medical applications.

And unless you are travelling to destinations on the Government of Canada’s Covid-19 warning list. For some insurers this can delay your approval. If such travel is planned over the next 12 months, be honest while filling out your application: any false information could cause your insurer to refuse paying the death benefit if a worst-case scenario happened.

Yes, but you might receive a health rating which could make your policy more expensive, and approval may be postponed until you make a full recovery. The good news is that once you do, the price difference in premiums is expected to be minimal.

The takeaway here is that shopping for a life insurance policy can be intimidating for anyone recently diagnosed with a severe health condition, regardless of the pandemic.If you’re unable to purchase regular term insurance, a simplified issue or guaranteed issue life insurance policy – which don’t require medical exams - could be a way to get some coverage and a small death benefit for your family.