Business : The world has changed…

I think it is safe to say that the world has changed drastically in the last few months. As with any change, some of it might be for the better and some might not be. In the insurance world, one thing that has changed is the ability to get Long Term Care after the age of 65. Let's face it, a lot of us don't really start thinking about it until we start thinking about retirement. It's not something we want to necessarily be thinking about. However, since the Covid-19 pandemic, most all companies that sell Long Term Care are making changes or put any applications on hold thus making it nearly impossible if you are over 65 to get. So if you've been on the fence and you're not 65, get it done NOW.

Another area that we are hearing a lot of changes will be coming is in life insurance. Companies are reevaluating the mortality rate in the world and we are hearing that rates are going to go up significantly. We've also heard that TERM rates that are normally quite inexpensive are going to go up and that 30-year term policies may go away. Companies are concerned with the long-term effects of Covid-19 on the body and how it might affect you. Again, if you have been on the fence or don't have a policy for your kids yet, lock it in NOW.

There are lots of uncharted roads ahead as we begin the new "normal" moving forward. Now is the best time to make sure that your family is covered if something happens to you. Make sure they are going to be taken care of. We have witnessed the importance of each person's income in a family in the last few months. If you died suddenly, would your family be able to continue to live comfortably, pay for a funeral, for college? If you'd like to review your coverages, please give me a call.