Life Insurance Moratorium and/or an Increase in the Mortality Tables Nationwide
Paula Weissinger is a member of Compass & Clock, and has over 20 years experience in the Insurance Industry. She brought some great info to my attention, and I didn't think I should keep this to myself, so I'm sharing it with all of you. Contact your insurance agent or Paula's office to learn more about the below.
Due to the COVID-19 virus and the unexpected increase in the death rate, the Life Insurance Industry is monitoring the situation and may decide to administer an Industry-wide moratorium on the ability to purchase Life Insurance until further notice. Now is the time to review your life insurance program and determine if you have enough coverage in place to protect your loved ones.
My office is able to do a quick life needs analysis over the phone to determine your coverage need and take the application. There is no money needed to apply and no obligation to purchase. The underwriting process will require an interview and possibly a physical. Because of this, we are urging people to get these done prior to any illness. If an application is not submitted before the moratorium you will not be able to put one in at a later time until further notice.. It’s my job to ask you about your life insurance program please don’t make it my job to tell your family you did not have any.
Additionally, due to the nationwide Stay At Home Order these past several weeks, we have seen an increase in Internet and Identity Theft losses. This has created an urgency to investigate your insurance options to protect yourself from these types of losses. You can protect yourself from these losses by adding a Cyber Security and Identify Theft Protection Endorsement to your State Farm policy. These can be added on at a cost of $25 per year if you have a property insurance with State Farm, such as Home, Renters, Condo, etc.
Lastly we provide FREE Mobile Notary Service and have been fairly busy helping people with this service since the Banks cannot do it.
Information Submitted by Paula Weissinger
175 Parfitt Way SW, Bainbridge Island