{"id":84,"date":"2020-05-22T15:46:06","date_gmt":"2020-05-22T15:46:06","guid":{"rendered":"https:\/\/www.milifeinsurance.ca\/blog\/?p=84"},"modified":"2021-12-07T12:30:38","modified_gmt":"2021-12-07T12:30:38","slug":"should-i-buy-life-insurance-during-covid-19-pandemic","status":"publish","type":"post","link":"https:\/\/www.milifeinsurance.ca\/media\/should-i-buy-life-insurance-during-covid-19-pandemic\/","title":{"rendered":"Should I Buy Life Insurance During COVID-19 Pandemic?"},"content":{"rendered":"\n<p>The\nCOVID-19 pandemic is making many of us think more about the future. So much can\nfeel out of our control, like our careers, health, and social connections.\nDespite the uncertainty, there is one thing that you can control and should\nfocus on right now. Your family\u2019s future wellbeing when you pass away. <\/p>\n\n\n\n<p>Life\nis unpredictable and full of possibilities. Being prepared for different\ncircumstances is key. <\/p>\n\n\n\n<h2 style=\"font-size: 20px\"><strong>Why Now is the Right Time to Buy Life Insurance<\/strong><\/h2>\n\n\n\n<p>One way you can ensure your family is taken care of when your time comes is through <strong><u><a href=\"https:\/\/www.milifeinsurance.ca\/blog\/why-now-is-the-time-to-buy-life-insurance\/\">buying life insurance<\/a><\/u><\/strong>. Specifically, life insurance allows your family to be financially secure of when you die, relieving some of their stress during a time of mourning. <\/p>\n\n\n\n<p>Plus,\nwhen it feels like nothing is within your control, deciding to protect your\nfuture feels empowering. You\u2019re taking back the power that this pandemic has\ntemporarily stolen. <\/p>\n\n\n\n<p>Not\nonly do you regain a sense of control over your life, but this is an excellent\ntime to buy. <\/p>\n\n\n\n<p>Due to the Bank of Canada dramatically decreasing interest rates, insurance companies will likely be increasing their rates. It\u2019s too early to say which products will be affected, but it\u2019s wise to buy now before any increases happen. Not to mention the fact that the best time to buy insurance is always yesterday. The longer you wait, the older you get, the more risk insurance companies face to ensure you. Thus, the more it will cost you. <\/p>\n\n\n\n<h2 style=\"font-size: 20px\"><strong>How Does COVID-19 Affect the Application Process?<\/strong><\/h2>\n\n\n\n<p>If\nyou\u2019ve been diagnosed with the virus or are in recovery, you will likely need\nto wait until you are fully recovered before applying. If you have recently\ntravelled abroad, you will also have to wait the mandatory self-quarantine\ntime. <\/p>\n\n\n\n<p>Once\nyou begin the application process, know that it may take longer than usual.\nThis is due to the changes in procedures; brokers are conducting interviews\nonline and all parties are adjusting to using technology like never before. &nbsp;<\/p>\n\n\n\n<p>The medical examination process has been affected by the COVID-19 social distancing measures. Most insurance companies are either accepting past medical records, extending the deadline for the exam, or waiving it together. However, this will also slow down the application process. <\/p>\n\n\n\n<p>It\u2019s\nbest to work with an insurance expert during this time who can walk you through\nthe updated process. They can also help you find the right products at the\nright rates from companies you can trust.<\/p>\n\n\n\n<h3 style=\"font-size: 20px\"><strong>Interested in Securing Your Future with Life Insurance?<\/strong><\/h3>\n\n\n\n<p>Life is full of possibilities. To find the right life insurance product for you and begin the application process, <strong><u><a href=\"https:\/\/milifeinsurance.ca\/contact-us\">contact us<\/a><\/u><\/strong> today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The COVID-19 pandemic is making many of us think more about the future. So much can feel out of our control, like our careers, health, and social connections. Despite the uncertainty, there is one thing that you can control and should focus on right now. Your family\u2019s future wellbeing when you pass away. Life is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is Right Time To Buy Life Insurance During COVID-19 Pandemic?<\/title>\n<meta name=\"description\" content=\"Know the right time to buy life insurance. 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