“Policyholders should rest assured that nothing has changed in the claims-paying process as a result of COVID-19 vaccinations,” he added.
Graham’s statements were issued after a social media post began circulating on Facebook, Twitter, and TikTok, claiming that receiving a COVID vaccine will affect death benefits.
However, for people who had a severe adverse reaction to the COVID-19 vaccine, it’s unclear how their health status will impact their qualification for a life insurance policy in the future and if they will have to pay higher premiums.
The Epoch Times reached out to New York Life, Northwestern Mutual, and Mass Mutual for clarification on this issue.
Only Northwestern Mutual and Mass Mutual replied and directed us to the American Council of Life Insurers’ press release regarding the “social media misinformation campaign” but did not address the other questions.
“We do know that companies rely on information they find in medical records in the underwriting process which may, or may not, include COVID-related information,” Jack Dolan, Vice President of Public Affairs at ACLI told The Epoch Times in an email. “Exactly how companies use information found in an applicant’s medical record can distinguish one from the other.”
“If you’re not so healthy or have pre-existing medical conditions, your life insurance classification and rates will reflect that,” the authors said.
For people with a “complicated health history, or “had some recent [health] problems,” they could pay “as much as an extra 250 percent” on their policy premiums.
Associate Professor in the Division of Health Outcomes and Implementation Science at the University of Florida, W. Bruce Vogel, told the Associated Press that the vaccine may “limit any life insurance premium increases related to COVID-19.”
“Only if the vaccine itself increased mortality would you expect it to increase life insurance premiums, and there is no evidence of that so far,” Vogel said. “The fact that the vaccine is being given so widely suggests at least an implicit finding by the FDA that the potential rewards outweigh the risks.”
The two-dose messenger RNA vaccines by Moderna and Pfizer were issued an emergency use authorization on Dec. 11 and Dec. 18, 2020, respectively by the Food and Drug Administration (FDA). Johnson & Johnson’s one-shot vaccine was given emergency authorization on Feb. 27.
According to the Centers for Disease Control and Prevention, as of Tuesday, 84 million Americans have gotten at least one dose of the three COVID-19 vaccines available in the United States. In addition, more than 64,000 adolescents aged 16 to 17 years are fully vaccinated against the CCP virus compared to over 45 million adults who are fully vaccinated. Pfizer’s vaccine is authorized for individuals ages 16 and up.