U.S. life insurers impose waiting periods to skirt coronavirus risk

[Northeast Agent]

U.S. life insurers impose waiting periods to skirt coronavirus risk

Spread of the virus across the United States could push insurers toward draconian measures, said Tim Luedtke, an actuary and professor at Temple University in Philadelphia.

“I fully expect that they will stop taking applications,” Luedtke said.

Spread of the virus across the United States could push insurers toward draconian measures, said Tim Luedtke, an actuary and professor at Temple University in Philadelphia.

“I fully expect that they will stop taking applications,” Luedtke said.

 

[theleadingagent]

Interesting!.....

This appears as though there will be small waiting period for people who have traveled to places with outbreaks.

This is for AIG and Lincoln right?

I wonder if other companies are altering their applications/paramed procedures

As far as stop taking applications? I don't understand how he'd come to that conclusion

 

[Travis Price]

Rueters kind of took a crap on the agents that worked on that story. Apparently Anthony Martin spent a day emailing back and forth with the journalist and they couldn't even give him a backlink.

 

[Tahoe Ray]

I wonder if other companies are altering their applications/paramed procedures

Let me know if you can even get someone examined next week.

The carriers won't have to worry about restrictions because they won't even have labs or exams to analyze.

I believe Banner is now requiring a good health statement on all policy deliveries as well.