The novel coronavirus outbreak (COVID-19) has upended our daily lives and created a tremendous amount of worry and stress. As people grapple with unpredictable circumstances, many are thinking of how they can protect their families in the event of a worst-case scenario.
“Anytime someone faces a potential existential threat, they are more likely to think about life insurance,” said Ryan Shellenberger, Owner at Shell Mutual Insurance. “With the current coronavirus outbreak, people want to make sure their families will be protected in the unlikely event that an infection leads to fatal complications.”
Fortunately, the risk of dying from COVID-19 remains low for most people. According to the latest data from the Centers for Disease Control and Prevention, the vast majority of people recover from infection without complications. That said, for certain people, the risks are higher.
According to the CDC, the majority of COVID-19 deaths have occurred among adults over the age of 60 and among people with serious underlying health conditions, including high blood pressure, lung problems, diabetes and immunodeficiencies. For these people, the outbreak can be especially worrisome, leading many to take steps to prepare for the near- and long-term future.
Right now, federal and local governments are enforcing strict social distancing measures intended to slow the infection rate. For people who may be at a higher risk of complications, it’s important to stay home as much as possible and avoid close contact with anyone who may be infected, even if they don’t appear to be showing symptoms.
At the same time, while it’s important to take immediate measures to reduce the risk of infection; it’s also important to plan ahead for a potential worst-case scenario.
“No one likes to think about the prospect of death,” said Shellenberger. “Unfortunately, when we avoid the subject, it can have serious ramifications for the ones we love.”
When families lose their primary breadwinners, they often face incredible financial challenges at times when they are struggling with unimaginable grief. In many instances, they are forced to take drastic measures to pay end-of-life costs and keep up with bills. Sometimes they have to sell their homes to raise money. Other times, children are forced to sacrifice their college plans and get jobs to help the family make ends meet.
“Without life insurance, families face incredible challenges whenever a primary breadwinner dies unexpectedly,” said Shellenberger. “Fortunately, most people can acquire an affordable whole life insurance policy that will cover burial costs and provide enough money to cover mortgage payments, college expenses and the daily cost of living.”
While the novel coronavirus outbreak has caused many people to consider the importance of life insurance, it’s just one of many daily threats people face. According to data, more than 3,000 people die in car accidents every day. The CDC reports that about 647,000 Americans die from heart disease each year, while nearly 600,000 people die annually from cancer.
With this in mind, it’s important for people to plan ahead now, so they can enjoy the peace of mind that comes with knowing their families are protected.
“As uncomfortable as it is, it’s important to plan for an untimely death,” said Shellenberger. “Whether it’s a car wreck, cancer, heart attack or a rare infectious outbreak, there are many different things that have the potential to end our lives prematurely. When we make plans to protect our families, we can live life more fully without having to worry about what our families might face if they have to go on living without us.”
In the face of a once-in-a-lifetime global pandemic, Americans are being forced to confront their mortality. While they can’t predict whether they will get sick and how the virus might affect them; people can take definitive steps to ensure that their families are protected in the event of a worst-case scenario.
About Shell Mutual Insurance
An independent agency, Shell Mutual Insurance represents numerous programs in the final expense and burial life insurance market. Shell Mutual prides itself on assisting families during some of life’s most challenging times. We’ve helped countless families find the assistance and security they need for end-of-life expenses. Leveraging diverse partnerships, we always work to find our clients the most appropriate, best-priced program that fits their unique needs.