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By: Hannah Buehler
Aug 07, 2020
It’s a conversation no one wants to have, but for many it’s necessary.
“You don’t know what’s going to happen if one of us is left alone,” said Amy Paoletti of Williamsville.
Getting life insurance in a COVID-19 world has Paoletti and her husband looking at their options.
“You see so many people of all ages dying and no one has anything covered because it just happened,” she said.
Paoletti says with owning her own business, Amy’s Fine Jewelry in Williamsville and her husband working in healthcare, they’re both in contact with many people daily.
They’re looking at their life insurance options in case something were to happen to either.
“They look at your age, your health, and your lifestyle,” said Demetrius Mack, owner of MackBarr Group. Mack helps people with financial literacy and sells life insurance.
“We’re in a situation where we must be proactive instead of reactive,” he said.
Mack says the COVID-19 pandemic has made it harder for people to get life insurance, partly because the underwriting process is taking longer.
He says If you’ve had COVID-19 or have a risk for COVID-19, insurers don’t consider you as healthy as someone else, and that could mean if you are approved for a policy, you’ll be paying more.
“If you’re more suspect to COVID-19, you’re going to have to fit certain criteria to get said policy,” he said.
A lot of people are looking to get life insurance to protect their loved ones if something were to happen.
“Making sure you save that money and that you have life insurance,” he said. “The only guarantee we have in life is death, and unfortunately when that time does come you leave people you care about in a tough situation,” he said of those who do not have the insurance.
Mack says if there ever were a time to look into financial planning and your financial future, to make sure you and your family can make ends meet, the time is now.
