COVID-19 Insurance Update

The changing landscape

How COVID-19 has impacted life insurance

We have been receiving updates from our life carriers on the changing landscape during the COVID-19 situation. Currently, we are receiving so much email from different sources, it is difficult to keep up with what each carrier’s response is. We want to help you keep up with these updates as well during this time and put all of them in one, simple to access source. CLICK HERE to Jump to Carrier updates.

Premium Payment Relief

We have heard from many of our agents about calls they are receiving from current clients that may have been furloughed or lost their job and asking what options they may have. The good news is that many of the carriers that we represent have come out and stated that they will be offering extended grace periods for at least 60 days, as well as payment plan options for clients. All the client must do is call and discuss their situation with the carrier to see what options may be available to them. Please notify your clients that these departments are currently experiencing a flood of calls, so please be patient as they may experience long hold times before they can speak to someone at the carrier.

Carrier’s Payment of Claims

Carriers have come out and stated that any deaths caused by the COVID-19 will be covered and treated as a normal claim. However, during this time, obtaining certain claim requirements may be delayed and will delay the payment process. Each of our carriers are open for business and are working hard to deliver on the promises that were made to each of our clients.

Underwriting Changes

This is something that we continue to monitor as carriers are updating their guidelines to reflect the current landscape. A good thing that has happened to the underwriting process is many carriers are working with us to speed up underwriting. We have seen Accelerated Underwriting programs loosen the underwriting requirements, increase the underwriting limits and allow for Non Face-to-Face sales. We have seen carriers like American National really speed up all applications submitted and get approvals out quickly. F&G just released their new EXAM and Paramed free underwriting for clients under 50 up to $1,000,000 of coverage that could help you close a sale quickly.

There have also been some notifications about changes for policy delivery. We are seeing that a good health statement, signed at delivery, is starting to become standard practice. Please be aware of these changes, as you will have to send this requirement in, with any other delivery requirements for your cases to be placed inforce.

Finally, we are seeing some hesitation from carriers underwriting the older ages for traditional coverage. Any recent or planned foreign travel is also a concern with some carriers at this time and could postpone your case for 30-days up to the end of the year. Please check the carrier’s guidelines for more details on if this will affect any cases that you are currently working on and check back often.

We have assembled a list of many of the carrier’s Frequently Asked Questions, Underwriting Updates and Underwriting Enhancements that we could find. We will do our best to keep this page updated with any new items that come through our pipeline and add carriers as needed.

If you have any questions, please contact Pegasus and we can help you choose the right carrier for your clients!

Carrier Updates


April 8, 2020

AIG has updated its underwriting guidelines focusing on clients 70+, clients that have table ratings applied, and any foreign travel.


April 7, 2020

Enhanced UW guidelines for accelerated underwriting creates faster NB process. Recent changes to older ages and foreign travel.


April 24, 2020

Updated delivery guidelines and questions. New eDelivery option has been introduced with instructions for both agent and client released.


April 8, 2020

Banner has updated it’s Exam guidelines to help process business faster. They will postpone cases with any recent or future foreign travel.

F&G Life

November 17, 2020

F&G has updated its UW guidelines and made its products Exam-Free up to $1MM of coverage to age 50. Eapp changes makes process easier.


April 16, 2020

The new remote sales guide offers alternatives to sending in signatures and requirements. The FAQs bulletin gives you valuable information.

Mutual of Omaha

April 9, 2020

It’s non-med platform is available on iGO eApp for term, GUL & Final Expense. UW enhancements annouced speed up UW up to $2MM.

National Life

April 8, 2020

Relaxed accelerated underwriting guidelines have been increased up to $3MM and new Non Face-to-Face sales guidelines released.

North American

May 5, 2020

Increased limits for Accelerated UW up to $1MM. New website has been launched for producers to get all the latest news and updates.


November 11, 2020

Updated guidelines now allow some foreign travel. Keeps the same postponement clause for ages 59 & below and 60 and above.


April 9, 2020

New options are available for clients that cannot take an exam. Living Benefits are no longer available for clients ages 56+. See all updates.

United Home Life

April 1, 2020

It has added a new health question during the PHI. New policies will be mailed directly to the policy owner for delivery.

Contact Pegasus

  • This field is for validation purposes and should be left unchanged.


Pegasus Insurance
18402 US HWY 281 N., Suite 265
San Antonio, TX 78259
Phone: 505-298-2111
Fax: 505-298-2555