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 firstname.lastname@example.org to learn how AIPMA can assist with growing your agency. Your Growth is Our Commitment!
Latest PostsHelping Your Marijuana Using Clients Get Life InsuranceApril 2021 Giving Back: How Being a Foresters Member Can HelpApril 2021 Comparing Life Insurance Costs to a Daily Cup of CoffeeApril 2021
TagsFidelity Guaranty Life North American Women American Equity Ira Charity Regulations Fixed Annuity Medicare_Supplements Senior Health Shop Term Life Insurance Taxes Covid19 Myaip Tax Season Foresters Financial Annuity Tickit Myga Aipma Nationwide Carriers Equitrust Roth Ira Aig Bestow Securian Financial Social Media Tips Financial Planning Long_Term_Care Job Posting Protective Regional Director Retirement Planning Permanent Life Insurance Genworth Open Enrollment Life_Insurance Lincoln Financial Group Coronavirus Covid 19 Web Meetings Working From Home Drop Ticket Transamerica Webinars Limra Legal And General Holiday Culture Secure Act Fixed Indexed Annuity Nafa Global Atlantic
2041 E. Square Lake Road, Suite 100, Troy, Michigan 48085-3897
For more than 35 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 2021