Tim Ludtic, a professor of finance at Temple University in Pennsylvania, predicted that insurance companies would stop accepting new applicants until the spread of the virus in the United States was stopped.
Life insurance policies in the United States do not exclude any illness that leads to the customer’s death, except for suicides during the first two years after a person has a life insurance policy.
Hence, coronavirus deaths are not expected to be excluded from the payment of the insurance policy for the family of the deceased.
Traditionally, the procedures for obtaining a life insurance policy take several weeks. There are mandatory medical tests, in addition to waiting for the medical record of the applicant to arrive from his former physicians, and to verify the authenticity of the documents provided.
Currently, many customers want to avoid medical tests during the spread of the virus for fear that the virus will spread to them, whether they go to doctors ’offices or doctors come to their homes.
