COVID 19 May Be Closing Door On Life Insurance Buyers | Forbes

Posted in Covid 19 last updated on April 1, 2020

Forbes | Amy Danise Forbes Staff

Life insurance companies don’t like the unknown. They operate on numbers: Gathering information about applicants, asking a lot of questions, and using actuarial tables to help decide the rates for each applicant. The COVID 19 pandemic is bringing a lot of unknowns to their desks.

“Now because of this black swan event, there are no actuarial tables for this,” says Chirag Pancholi, co-founder of Jenny Life and an industry veteran.

Pinning down accurate numbers for COVID-19 mortality can be nearly impossible. Numbers of total cases are likely under-reported because people with mild cases likely don’t seek medical care, there have been limited supplies of testing kits, and there’s a limited capacity for labs to process tests worldwide.

About James Roberts

James has done it all in the final expense industry. He has sold exclusively burial insurance for the past 5 years. From selling face to face, to telesales. He has even sold door to door in a cold market locally. James sat on his local Cities public safety advisory committee for two years and is currently the co chair on the city councils advisory committee in his respective city. James founded Midgard Life Insurance Services | lifeInsurance369.com to provide a more convenient resource for seniors to purchase final expense insurance online .

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About James Roberts

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Money | Covid 19 Life Insurance Rates Will Likely Rise

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