finance

COVID-19 is having an immediate impact on the life insurance industry

To help their clients and prospects and protect them from unnecessary personal contact and in-person meetings during these times of social distancing, many insurers are changing their life insurance underwriting process and, in some ways, making it more streamlined. Paramedical visits, blood and urine samples might be waived in some cases, especially for the younger and healthier classes of people. Also, fewer medical records might be requested. Since these steps are a major source of delay in underwriting new policies, the overall process from application to decision might go a lot faster than we are used to. To allow this to happen, the applicants themselves are being asked by some companies to provide more information, rather than requesting (and waiting for!) volumes of doctor’s records. In any case, for those us who are reluctant to be stuck with a needle (and who isn’t!), now is the time to apply for a new policy.

On the other hand, because the corona virus poses more risk to certain older folks and those with weaker health overall, life insurance companies are taking a second look at their age limits and how far they are willing to go in the direction of rated policies. How all this will play out in the industry over the coming months is anybody’s guess, but already we have heard of reputable companies not taking life insurance applications for anyone 75 or older, or on prospects 70 years old with impaired health. These changes are said to be “temporary” and I am sure life insurance companies will use this “time out” to study the more lasting impact this crisis will have on the life expectancy of certain groups of Americans going forward.

Maybe a lesson for business owners would be insure your key people early and make sure you don’t keep postponing your buy-sell financing.

Come to Stonehouse for help, education, counseling and to see how any of this applies to you and your business, or your estate planning.

<strong>Be Well, </strong><br>Tom Somers
Be Well,
Tom Somers

CERTIFIED FINANCIAL PLANNER™ at Stonehouse Insurance Services | 951.972.8100

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covid19

Dear Clients, Partners, Friends, and Family,

As the possibility of our state and country opening up draws closer and closer, many who are working from home are getting restless. Who could blame anyone for feeling that way? In this STONEHOUSE REPORT issue, we have some articles to keep you encouraged and provide some tips on staying the course while working from home.

Today Riverside County is making some crucial decisions about orders businesses will have to follow in order to reopen, and how they will be held accountable if they break those orders. With great courage the Riverside County Sheriff has stood up, and pleaded the case of so many. Be sure to check out the video link below to read more about it.

As way of reminder, this coming Sunday is Mother’s Day. Many are looking for creative ways to bless the mothers in their lives while under quarantine. We have provided an article by Martha Stewart with some great ways to celebrate while in quarantine and/or social distancing. Be sure to check that out below! Let’s all make sure to giving all the mothers in our lives a special thank you!

We want to encourage you to visit our website for updates on COVID-19 resources.

<strong>Best, </strong><br>Joshua T. Emerson
Best,
Joshua T. Emerson

Agency Manager at Stonehouse Insurance Services | 951.760.9429


“CALIFORNIAN SHERIFF SAYS HE CAN’T ENFORCE CORONAVIRUS ORDERS MAKING ‘CRIMINALS’ OUT OF BUSINESS OWNERS”

Please read the below article for more information on the story and video.


10 TIPS FOR MINDFUL PRODUCTIVITY WHILE WORKING FROM HOME

Please read the below article on how to stay the course while on lock down.


“CELEBRATE MOTHER’S DAY DURING SOCIAL DISTANCING..”

Please read the below article on how to safely celebrate Mother’s Day!


NEW GUIDELINES FOR BUSINESSES

Governor Gavin Newsom released updated industry guidance – including for retail, manufacturing and logistics – on Thursday, May 7 to begin reopening with modifications that reduce risk and establish a safer environment for workers and customers. Click below to see the new guidance. “


STONEHOUSE CONSULTING

ARE YOU UNSURE WHERE TO GO FROM HERE WITH YOUR BUSINESS? DO YOU NEED EXECUTIVE BUSINESS CONSULTING GUIDANCE?

We have 40+ years of international consulting experience on staff. Our staff is ready and able to setup a ZOOM consulting session with you today. Please visit our sister company’s website below to make an appointment with a consultant.


FROM THE DESK OF:
TOM SOMERS – CERTIFIED FINANCIAL PLANNER™

Many business owners are struggling with what to do in this up and down financial environment.

Tune in to this weeks article from the desk of Tom Somers. “COVID-19 is having an immediate impact on the life insurance industry”


INSURANCE REVIEWS

WE ARE SAVING NEW CLIENTS CRITICAL NEEDED MONEY $$$

Is your current agent reviewing your sales, and payroll during this COVID-19 pandemic, to help cut your costs? Ask us to help you review your sales, payroll, and property that may directly impact your current rates.

ASK FOR JOSH EMERSON.
JOSH@STONEHOUSEINS.COM
STONEHOUSE DIRECT 951-760-9429


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