COVID-19 & the Future of Insurance
Table of Contents
|
The Current Pandemic |
1 |
|
The Future Outlook |
1 |
|
Claims |
2 |
|
Assessing the Financial Impact of Coronavirus on Policyholders |
3 |
|
COBRA Coverage |
4 |
|
Special Enrollment in the Individual Market Insurance Coverage |
4 |
|
Short-Term Insurance Coverage |
5 |
|
The Politicization of a Health Care Crisis |
6 |
|
Insurance Producers May Struggle in a New Marketplace |
6 |
|
Financial and Practical Impact on Insurers |
9 |
|
Short-Term and Long-Term Insurance Impacts |
10 |
|
Impact on Industry Growth |
10 |
|
The Life Insurance Industry in America and Around the World |
11 |
|
Underwriting During the AIDS Crisis |
11 |
|
Non-Health Elements Affecting Policy Underwriting |
12 |
|
Underwriting Life Insurance in these COVID-19 Times |
12 |
|
Application for Life Insurance Policies |
14 |
|
Policy Provisions Now Apply to COVID-19 |
16 |
|
Defining the Contract |
17 |
|
The Agent’s Role in Acquiring Policy Applications |
17 |
|
Policy Ownership |
18 |
|
Premiums |
19 |
|
Policy Options |
19 |
|
Nonforfeiture Options |
19 |
|
Dividend Options |
19 |
|
Settlement Options for Life Insurance |
20 |
|
State Required Provisions |
22 |
|
Incontestability |
22 |
|
Misstatements in the Application |
23 |
|
Deferment Clause |
23 |
|
Nonforfeiture |
23 |
|
Loan Values |
24 |
|
Grace Periods and Reinstatement |
24 |
|
Allowed Policy Provisions |
25 |
|
Suicide, Aviation, and War |
25 |
|
General Provisions |
26 |
|
Deduction of Indebtedness and Premium Refund |
26 |
|
Assignment |
26 |
|
Beneficiary Designations |
26 |
|
Change of Beneficiary |
28 |
|
Policy Payments |
29 |
|
Cash Values |
29 |
|
Dividends |
30 |
|
Proceeds |
30 |
|
Special Clauses |
30 |
|
Contract Use |
32 |
|
Contract Participants |
32 |
|
The Insurer |
32 |
|
The Insured |
32 |
|
Insurance Company |
33 |
|
Underwriting and Rating |
33 |
|
Finance |
34 |
|
A Public Interest |
34 |
|
Key Person Life Insurance |
35 |
|
Buy-and-Sell Agreements |
35 |
|
The Key Person Principle |
36 |
|
Insurable Interest for Life Insurance |
37 |
|
Disability Insurance on Key Employees and Owners |
38 |
|
The Small Company’s Exposure |
40 |
|
Loss of the Small Business Owner |
40 |
|
Planning for Death or Disability |
43 |
|
Annuities in the COVID-19 Era |
45 |
|
Defining an Annuity |
45 |
|
Annuity Extras |
46 |
|
Built-In Protections |
46 |
|
Cost of Living Protection |
46 |
|
Annuities Following COVID-19 |
46 |
|
Principal Protection |
46 |
|
Tax Efficiency |
47 |
|
Everyone is Living Longer, Even with Coronavirus |
47 |
|
Putting Off Retirement |
48 |
|
Massive Impact of Coronavirus on the United States |
50 |
United Insurance Educators, Inc.
PO BOX 1030
Eatonville WA 98328
(800) 735-1155