Second wave might wipe out life insurers Covid provisions indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Sajja Praveen Chowdary - The Hindu thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Delay in issuing term life insurance policy in April and May A combination of factors such as the time taken to obtain a medical report and tightening of guidelines by the reinsurers led to the delay
The number of days taken by an insurance company to issue a term life insurance policy has gone up in April and May. A combination of factors such as the time taken to obtain a medical report and tightening of guidelines by the reinsurers led to the delay.
Insurance intermediaries and aggregators said that normally it would take around 10 days on an average to get a term life insurance policy issued from the submission of a proposal form. This has gone up to around 15-16 days over the last couple of months.
The uncertainty around Covid-19 and developing strains and the rising claims are making insurers jittery about on-boarding Covid-19 patients. Although Covid-19 does not qualify as a chronic disease, the degree of scrutiny is greater for Covid-19 recovered patients