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Brad Brain: COVID-19 vaccine will not compromise your life insurance

This conspiracy theory is potentially dangerous if people are duped
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Brad Brain: "There is a rumour going around that taking the COVID-19 vaccine will somehow compromise your life insurance coverage. So, let’s squish that silliness right quick. Because that rumour is total, unequivocal, unadulterated nonsense. End of story."

brad-brainWe live in an age of polarization, where people are quick to make up their minds and slow to change their opinion. Even when a point of view has absolutely no basis in reality, people can be reluctant to let go of an idea.

There is a rumour going around that taking the COVID-19 vaccine will somehow compromise your life insurance coverage. So, let’s squish that silliness right quick. Because that rumour is total, unequivocal, unadulterated nonsense. End of story.

This is the point where some people want to argue with me. Yes, I understand that there are different opinions about COVID-19 and the various vaccines. It can be controversial topic.

People have different opinions on the safety of the vaccines, and the need for masks, and travel restrictions, and gathering sizes, and sports participation, and the progress of the vaccine rollout, and the necessity of businesses to be shuttered, and how beneficial the governments response has been, and how serious the virus really is, and the great reset, and the application of the Canadian Charter of Rights and Freedoms, and whether vaccines be mandatory, and what should have been done differently. Are we are doing too much? Are we are doing too little? Etcetera.

Understand that I am not writing about any of that. This article is strictly about the COVID-19 vaccines and how they affect your life insurance, and there is no controversy on that front.

The COVID-19 vaccine will not nullify your life insurance. Really, that is the entire column for this week captured in its entirety in just one sentence. The COVID-19 vaccine will not negate your life insurance coverage.

But the truth doesn’t prevent conspiracy theories from hatching. And this conspiracy theory is potentially dangerous if people are duped into thinking a fabrication has merit, and act based on false information.

This is serious enough that the Canadian Life and Health Insurance Association has put out a news release under the heading Know the facts: Getting the vaccine will not affect your insurance coverage.

Here is what is says: “Contrary to misinformation being shared on-line, receiving a COVID-19 vaccine will have no effect on the ability to obtain coverage or benefits from life insurance or supplementary health insurance.”

“The CLHIA is aware of misinformation that is being spread through social media claiming that individuals who get the vaccine will not be able to get life insurance or may be denied their life insurance benefits. These claims are incorrect and have no basis in fact whatsoever.”

“Canada’s life and health insurers stress that vaccination is one of the most effective ways to protect yourself and others from serious illness and death from COVID-19. Receiving the vaccine will not affect your individual or workplace life or health insurance policies, or ability to apply for future coverage.”

“As with any medication approved for use in Canada, the COVID-19 vaccines have been found safe and effective through Health Canada’s independent scientific and medical assessment process.”

So who is the Canadian Life and Health Insurance Association? It is a voluntary association of insurance companies that account for 99% of Canada’s life and health insurance business for 29 million Canadians. You can check out their website at www.clhia.ca.

The COVID-19 vaccine will not compromise your life insurance. That’s all there is to say about the matter.


Brad Brain. CFP, R.F.P., CIM, TEP is a Certified Financial Planner in Fort St John, BC. This material is prepared for general circulation and may not reflect your individual financial circumstances. Brad can be reached at www.bradbrainfinancial.com.