Life Insurance Council of India has announced that all insurance bodies will process any death claim related to coronavirus (Covid-19) at the earliest.
It also clarified that the ‘force majeure’ clause will not apply for Covid-19 death claims.
Go deeper with GlobalData
Life Insurance Council secretary general S N Bhattacharya has been quoted as saying by LiveMint: “The life insurance industry is taking every measure to ensure that the disruption caused to policyholders, due to the lockdown is minimal, by providing them uninterrupted support digitally, be it for honoring death claims related to COVID-19 or for servicing their policy,”.
The council also stated that both private and public insurance companies will not decline death claims pertaining to Covid-19, and all life insurance companies have been instructed to communicate the same to their customers.
Meanwhile, coronavirus cases in India have crossed 4,314 and118 deaths were recorded till date.
A 21-day lockdown has been imposed on March 25 in a bid to curb the pandemic in the country.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
