Force majeure clause won't apply to coronavirus death claims in life insurance policies
The Council also confirmed that the clause of ‘Force Majeure’ will not apply in case of COVID-19 death claims. This step was taken to reassure customers who had reached out to individual life insurance companies seeking clarity on this clause.
'Arogya Sanjeevani' insurance policy to cover Covid-19
Customers have the option of taking coverage of up to Rs 5 lakh — in which case the rough cost is about Rs 5,000 (there are a few insurance companies pricing it a few hundred rupees above this).
Cost of term insurance likely to increase soon
An insurer generally works on a concept where they create a fund through premiums (paid by all their policyholders) and pay the insurance claims of those policy holders who die each year, from this fund.
Coronavirus health insurance policies: 5 things to keep in mind
Coronavirus-specific insurance policies are being launched by insurers. Here are important points to know about the coverage and conditions.
Star Health's coronavirus insurance policy: No travel history exclusions but low sum assured
The policy, Star Novel Coronavirus, will even cover those with international travel history. However, the sum assured of Rs 42, 000, that the insurance cover offers appears low, especially for someone who might have to be hospitalised.
