Working from home has become the norm nowadays. The workplace has changed drastically, from open seating to your living room. Actually, some companies like Twitter and Facebook announced the option to work remotely even beyond the COVID-19 pandemic.
A Gallup poll in April 2024 revealed that 65% of U.S. employees are working remotely due to COVID-19. And, according to Global Workplace Analytics, approximately 56% of American workers have jobs that are done remotely, and forecasts about 25-30% of the workforce will continue embracing this routine in the future.
While many workers see this transition to working from home as a positive, there are some key things you need to consider and, perhaps, some changes to make. One special consideration is life insurance.
Most life insurance companies in Washington are changing the way people can purchase or apply for a cover. Here is what you should be aware of when purchasing life insurance in Washington during this work-from-home era.
What Does Working From Home And Remotely Mean?
To understand the life insurance implications, you must first understand the disparity between working from home and remotely.
- Work from home – In this case, there is a corporate office where you can work part of the time, but on other days you work from home. Many employees worked from home full-time during the pandemic, although some have returned to an office setting so far.
- Remote work – You work full-time from anywhere because you do not have a permanent company office.
- Telecommuting – You do the majority of your work outside the company’s office. Usually, this is a cross between remote work and work from home since it entails most work being completed outside the office, with some in-office work thrown in for good measure.
It’s worth noting that, given the rise in working from home as a result of the Covid-19 pandemic and its positives, many positions may probably continue to remain work from home positions, implying that they’d technically switch to remote worker status.
Working from Home: Implications in Acquiring Life Insurance
While remote working is good for physical health due to less commuting stress and exposure to germs, other issues have cropped up lately. Eyes strain, weight issues, ergonomic, and mental health problems have all seen increases.
Eye strain can be linked to higher screen time, while anxiety around the pandemic is to blame for mental health issues.
Weight issues and ergonomic complaints can be attributed to poor home office setups. Sitting in endless video calls and skipping the commute also means many people suffer from a lack of movement and physical activity during their normal remote workday. As you might remember, in typical office life, workers used to walk as part of their commute, dash between conferences, or step out to grab lunch.
Now, note: weight is usually a critical determinant when it comes to purchasing life insurance – though there are still some great insurance deals to be found if you are overweight like the ones here. Some health risks of being overweight include type-2 diabetes, high blood pressure, heart disease, kidney disease, etc. Life insurance companies usually assess your body mass index (BMI) to determine whether you may be a high-risk candidate due to your weight.
Changes on How You Buy Life Insurance in Washington
Since people embraced the remote working revolution, few adjustments have been made when it comes to buying life insurance policies.
First, as part of their underwriting processes, life insurance companies traditionally required an in-person medical assessment to be done, which could not be carried out at some point in 2024 due to the pandemic. That delayed the process for new life insurance cover applicants. However, these issues have been resolved, and application times have greatly improved.
Across the industry, insurance companies have hastened the long-debated technology plans. For instance, the use of online applications in life insurance was fast adapted. And, employment of e-health records for underwriting was embraced because obtaining paper records signed by a doctor became nearly impossible, as did having an insurance rep visit a client’s home for an examination and collection of fluids. Thus, throughout the purchasing experience, many providers have made more things digital.
However, don’t be shocked if your new life insurance application forms include COVID-19-specific questions and other inquiries about your job status.
Shop Around for the Most Favorable Rates in Washington
Some life insurance providers in Washington have raised their rates because of Covid-19. Even so, insurance rates can vary significantly depending on the kind of coverage you purchase and personal factors like age, health, and occupation.
Once you have decided on what type of life insurance policy is best for you and the level of coverage you require, compare Washington life insurance quotes from several Washington providers by clicking here.
Conclusion: Remote Work and Life Insurance in Washington
The COVID-19 pandemic has altered many things, and your life insurance needs might be one of those things.
If your work status has changed due to the pandemic or otherwise, ensure you notify your insurance agents. They can help you ensure you are appropriately covered and direct you towards the discounts available based on your situation.
Also, don’t hesitate to purchase a life insurance cover for the simple reason that you must undertake a medical cover. Everything has gone digital, and some insurers are offering no-exam or accelerated underwriting policies that have come in handy during this COVID-19 pandemic.
