Does COVID-19 Affect Your Client’s Life Insurance Policy?
As AIP Marketing Alliance continues to keep operations business as usual during the pandemic, a few people have reached out with the same question, “Does COVID-19 affect my life insurance policy?”
There are two ways to look at this scenario: current issued and in-force life insurance policies owned, and policies your clients are looking to purchase going forward. AIPMA decided to ask these questions to our compliance department to provide their opinion.
Several folks have asked if COVID-19 will change the terms and conditions of their existing life insurance policy. COVID-19 will not change the terms and conditions of an already issued and in-force life insurance policy.
The second question is, “Will COVID-19 change the terms and conditions of an in-force life insurance policy issued after June 30, 2020?”
While the terms and conditions of a future issued life insurance policy may have different terms and conditions than one issued before June 30, 2020, once a policy is issued, the terms and conditions will not change.
As a reminder, your clients should take the time to read through their entire life insurance policy thoroughly before purchasing this product.
In the meantime, are you looking to add a competitive life insurance product for your clients? AIP Marketing Alliance has access to more than 60 top-rated carriers with electronic contracting to make getting appointed quick and efficient.
Contact our Business Development team at (800) 783-5206 Press #2 or marketing@aipma.com to learn how AIPMA can assist with growing your agency. Your Growth is Our Commitment!
Latest Posts
AIPMA Team Takes Time Out for Charity to Support LighthouseDecember 2023
Integrity Wins Happiest Employees Award for Second Consecutive Year by ComparablyDecember 2023
Signs, Signs, Everywhere There’s Signs During Game Time 2023November 2023
Categories
Tags
Limra Integrity Working From Home Annuity Mental Health Nafa Webinars Fidelity Guaranty Life Charity Iul Fixed Annuity Myga Holiday Culture Long_Term_Care Transamerica Aig Aipma Indexed Universal Life Senior Health Shop Job Posting Insurance Fraud Medicare_Supplements Ringcentral Regulations Securian Financial Term Life Insurance Secure Act Lincoln Financial Group Ethos American Equity Life_Insurance Myaip Carriers Protective Roth Ira Financial Planning Legal And General Tickit Bestow Social Media Web Meetings Taxes Wink Nationwide Open Enrollment North American Drop Ticket Integrity Marketing Group Covid19 Permanent Life Insurance Genworth Retirement Planning Fixed Indexed Annuity Leads Women Tax Season Equitrust Disability_Insurance Foresters Financial Regional Director Corebridge Financial Coronavirus Covid 19 Final Expense Global Atlantic Tips IraContact Us
800.783.5206
2041 E. Square Lake Road, Suite 100, Troy, Michigan 48085-3897
About Us
For more than 40 years, AIP Marketing Alliance (AIPMA) serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office. Copyright 2023