Posted by (#2020 U.S. Coronavirus Outbreak Column) On the afternoon of March 2020, 3, US President Trump held a press conference on the "New Coronavirus Epidemic", announcing that the United States has entered a state of emergency and preparing for the nationwide epidemic prevention.
Amidst rumors, fake news, and fear of the new crown virus infection, more and more wait-and-see people made up their minds and bought life insurance.
Pennsylvania Mutual LifeIts life insurance application website, Fabric, reported that since mid-February,Life insurance applications have soared by 50%.Sales of will services have also increased by the same size.
People "started to think about ways to protect their families," Fabric's CEO Adam said in an interview.
Life insurance in the new crown epidemic
Any type of life insurance policy, including pure consumptionTerm life insurance, Are effective financial risk management tools.
"The current life insurance policy provides compensation for death at any place, at any time, and for any reason. The only exception is suicide within two years."LifeQuotes CEO Bob made an evaluation after reporting a 29% surge in policy sales.
For a healthy middle-aged man in his 40s, the high coverage of $100 million corresponds to a monthly premium of about $100.
And in the environment of the new crown virus epidemic,Asset protection planning.Wealth inheritance planning.Estate trust planningThe demand in professional fields is increasing significantly,The "cash value" whole life insurance policy is a basic financial instrument that is professionally applied in the above-mentioned fields.Its importance is self-evident.
Quickly apply for life insurance channels
The traditional life insurance application method, from filling out forms, to physical examination, to underwriting, usually takes several weeks to last month to complete.Today's digital insurance experience can significantly accelerate this process.
"In the traditional application process using paper application forms, many people's time and energy are constrained, and they tend to lose patience."
Current policyholders can already choose"Exemption from medical examination"Application process.Different insurance companies provide different amounts of "exempt from medical examination". Below a given amount of insurance coverage, insurance companies use direct big data to call and query the insured’s medical and health information for underwriting, and the insured can enjoy faster Application experience.
Recommendations for insurers who rush to purchase life insurance
If due to the promotion of the new crown virus epidemicBuy life insurance, This is not a bad thing.The point is that we have taken practical actions for risk management.
As our age grows, our future health conditions are full of unknowns, and the cost of applying for life insurance policies will increase accordingly.Applying for life insurance now has helped us lock in the rate.
For policyholders who apply for a lifetime life insurance policy,Buying in a hurry may not maximize our interests.
If you apply for life insurance purely for protection,Policy strategies such as reducing annual premiums and extending the payment period,It can help us maintain a safe insurance policy with less money to the greatest extent, and leverage the most welfare levers to achieve the goal of three birds with one stone.
The purchase of life insurance for the accumulation of "cash value" is often used in wealth accumulation, asset protection and estate planning.It is even more important to choose excellent products, professional insurance consultants and program design services.
The impact of the new crown epidemic on global high-net-worth groups
Due to the impact of the new crown epidemic, the U.S. government has issued travel bans to some countries and regions, which has aroused concerns and wait-and-see in the foreign market.
Certification of Global High Net Worth Resident ProjectsInsurance Consultant HeatherSaid, "Cash value life insurance is an important life-long plan. Policyholders look more and compare more. "Long-term wait-and-see" is a normal state. At this special moment, for the group that has been on the sidelines,This is a good time. '
"During the COVID-XNUMX pandemic in the United States, although there are constantPublic or internal notices of U.S. insurance companies, Suspend the insurance policy application of foreign travelers who have traveled in the epidemic area or the epidemic area.butSome established insurance companies with relatively stronger strengths and brands still open applications to groups who meet the requirements of "high-net-worth world residents".'
After U.S. President Trump’s press conference on the new crown virus epidemic on March 3th, U.S. stocksStandard & Poor's 500 IndexIn late trading, it violently pulled up from 2548 points to 2711 points, closing with a record daily increase of 9.29%.
(The full text is finished and published by the American Life Insurance Guide website)
