Insurance companies in India commit to coronavirus payouts

ANI
07 Apr 2020, 14:18 GMT+10

The Life Insurance Council in India has announced that all life insurers, both public and private, are committed to processing any death claim pertaining to COVID-19 at the earliest.
The Council also confirmed that the clause of 'Force Majeure' will not apply in the case of COVID-19 death claims.
All life insurance companies have also communicated to their customers individually in this regard.

MUMBAI, India - The Life Insurance Council in India has announced that all life insurers, both public and private, are committed to processing any death claim pertaining to COVID-19 at the earliest.

The Council also confirmed that the clause of 'Force Majeure' will not apply in the case of COVID-19 death claims. The step was taken to reassure customers who had reached out to individual life insurance companies seeking clarity on this clause in their contract as well as to dispel rumours to the contrary.

All life insurance companies have also communicated to their customers individually in this regard.

SN Bhattacharya, Secretary-General, Life Insurance Council, said, "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 honouring death claims related to COVID-19 or for servicing their policy."

"We reiterate that all life insurance companies stand by their customers in these difficult times and the customer should not be swayed by misinformation or misrepresentation," he added.

With these new cases, the total number of COVID-19 positive cases in India has now climbed to 4,421.

There are 3,981 active cases and 325 people have cured or discharged. So far, 114 people have died due to the disease. (ANI)

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