More questions about life insurance amid COVID-19 pandemic

Coronavirus

MARQUETTE, Mich. (WJMN) — The COVID-19 pandemic has people wondering what would happen to their families if they would fall victim to the virus.

Tanner Wagner, a risk advisor with VAST Insurance and Risk Management Firm in Marquette, says the agency hasn’t seen a spike in people purchasing life insurance policies, but has received more questions about what’s available.

“It’s unfortunately something that people are thinking about now, is what will happen if I’m no longer around, so just general discussions around how it works, what’s out there and what may be the best fit for them,” Wagner said.

Wagner says that there are no specific exclusions regarding to how people die.

“It is a question we’ve gotten for both existing policy holders and folks looking into new options,” Wagner said. “Simply put, this is not an exclusion on a life insurance policy.”

Wagner says there can be confusion when it comes to finding the right policy for you.

“Life insurance can be very simple, very complex and everything in between,” Wagner said. “The key is just to understand what is my goal: Am I in my peak income earning years and I need to make sure that if I’m no longer around my spouse and perhaps children are going to be in good shape financially? Or have I had a friend or family member recently pass away and their loved ones were burdened with the cost of those final expenses? Is that something that I want to avoid happening to my friends and family?”


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