Insurers say death from coronavirus vaccination will not impact life insurance payouts
A group of life insurers has clarified that getting the Wuhan coronavirus (COVID-19) vaccine will not affect people’s policy payout in case of death. The American Council of Life Insurers (ACLI) released a statement debunking alleged rumors circulating on social media platforms. The rumors asserted that etting a COVID-19 jab could play a role in claiming death benefits from insurance firms.
In a statement on its website published March 12, ACLI slammed the social media rumors as “entirely false information.” ACLI Senior Vice President for Policy Development Paul Graham said: “The fact is that life insurers do not consider whether or not a policyholder has received a [COVID-19] vaccine when deciding whether to pay a claim.”
He continued: “Life insurance policy contracts are very clear on how policies work, and what cause … might lead to the denial of a benefit. A vaccine for COVID-19 is not one of them.” Graham then encouraged policyholders to “rest assured that nothing has changed in the claims-paying process as a result of COVID-19 vaccinations.” He also encouraged them to get in touch with their life insurers, agents or financial professionals for any questions or clarifications.
Graham’s remarks came after posts on social media claimed that getting vaccinated for COVID-19 will impact death benefits paid out by insurers.
The Epoch Times reached out to three ACLI members — New York Life, Northwestern Mutual and MassMutual — for further clarification on the matter. ACLI represents a number of life insurance firms in the U.S. Only the last two insurers replied to the news outlet, pointing to the ACLI press release. They did not answer other questions on the issue.
It is not yet known if people who suffer a severe reaction to the COVID-19 jab will have their life insurance policy qualifications impacted as a result, and if they will have to pay higher premiums. ACLI Vice President of Public Affairs Jack Dolan told The Epoch Times in an email that insurance companies rely on data they find in medical records when underwriting. He added that these may or may not include information related to COVID-19.
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