Can Covid Survivors Get Disability Insurance?

It's starting to look like we are at the beginning of the end of the Covid pandemic, even if just a little bit. People are being vaccinated in record numbers and a handful of state governors are lifting restrictions for businesses and schools. All in all, things are starting to seem more hopeful.

However, there are those who had serious cases of Covid and survived. These people are still feeling the effects of the virus, from symptoms of lung issues,  "brain fog", fatigue and chronic pain. Called "Covid long-haulers", these folks are trying to get back to work and resume productive lives, despite their myriad of ongoing health concerns.

To make matters worse, insurance companies are becoming hesitant to issue policies to these people. This is because unlike other illnesses where the symptoms are gone, these problems may continue to chronically debilitate someone who has been infected. No one knows for sure if they will recover fully or if they will suffer for the rest of their lives.

With that lack of certainty in recovery of the long-haulers, it makes sense that insurance companies may not want to take on the risk of covering them. Part of this is because the disease is new, which makes it difficult for doctors to diagnose since the symptoms can also be associated with other conditions.

Also, insurance companies are wary of fraud and hesitant to file claims, especially with symptoms like fatigue and brain fog. This could lead to claim denials. 

So what should you do? If you feel you are a Covid long-hauler, the best advice is to get diagnosed from several medical practitioners, giving you plenty of documentation in case you need to file a claim. 

If you are healthy and have no symptoms, now is the time to talk to an agent about securing a disability insurance policy. Insurance companies are not going to be looking to cover people who have been infected and I have a feeling that in the short run, at least, they may add Covid to the list of conditions asked about on an application for coverage.

When people think of disability insurance they usually think of accidents, but alarmingly, over 80% of disability claims are for illnesses, like cancer and strokes. More importantly, people fail to recognize that if they are sick or hurt and are unable to work, the bills will continue to come in. Not only are they losing income, but so are those family members who have to stay home and become caretakers.

I always describe disability insurance as being part of the "Holy Trinity" of insurance, along with life and major medical coverage. Having a policy that insures your paycheck is an important safety net in the event one becomes hurt or chronically ill, which may be the effects of the Covid long-haulers.

At Surf Financial, we have come up with our "Covid Package" of plans, which is disability insurance (for the reasons stated above), along with life insurance (people have obviously died as a result of having the virus) and Hospital Indemnity coverage for those who have to be confined to a hospital. The Covid Package is not a formal group of plans fit into one, but mostly a way for us to communicate why they need these plans and what the plans do.

If you have questions about disability insurance or any of our other coverages, drop us a note. In the meantime, please stay healthy!

Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. And please subscribe to this blog!