COVID-19 Alert-- Insurance notice - revised June 18, 2020
The Departments of Insurance in a number of states have published bulletins for insurance companies related to the treatment of insurance coverage in the current environment. In the event the actions described below do not satisfy applicable requirements in your state, we will adjust our approach in your state to meet the requirements. We will continue to closely monitor the regulatory environment to ensure we remain in compliance with all government mandates.
Because missing premium payments and/or not making a lapse-pending payment can negatively impact a policy in several ways, we strongly encourage our policy owners to continue to make these payments, if possible.
We understand, however, that making a payment may not be possible for some of our policy owners in the days and weeks ahead due to COVID-19. In all states, we have temporarily paused cancellation of Delaware Life insurance coverage due to non-payment for policy owners who need more time to pay the amount due as a result of the COVID-19 pandemic. No action from policy owners is needed to initiate this payment flexibility.
These changes will remain in effect until further notice. This moratorium is on the cancelation or non-renewal of policies for the failure to pay the amount due during this period and is not a waiver of the amount due. The amount required to keep your policy in force will be due once this period ends.
For those policy owners with an upcoming bill, or policy that is now, or will enter, a lapse-pending cycle while we have temporarily paused cancellations, you will continue to receive your billing notices, and/or correspondence relating to your policy's status. The amount required to keep your policy in force will be due once this period ends.
2020040011 EXP 07/20