The third wave of COVID-19 is going on in the country and lakhs of cases are coming daily. At the same time, 400 deaths were also reported in the figures released on Saturday. Now in the meantime some new rules have come regarding insurance. Now people who have recovered from corona virus infection will have to wait a little longer to buy life insurance for themselves. According to the new rule, people who have recovered from corona virus infection will have to wait for three months to get a new life insurance policy. This is because many insurance companies have decided to introduce the waiting period requirement for COVID cases like any other disease.
Till now some time frame has been prepared by the insurance companies for various diseases, now corona virus infection has been added as another disease. Industry experts told a news agency that they have imposed a waiting period in view of the high mortality rate related to corona virus infection.
Reinsurers have also asked insurers to bring cases of coronavirus infection under standard waiting period norms as the high mortality rate has hit the reinsurance business. Those involved in reinsurance provide cover for insurance policies issued by insurers.
Experts say that the waiting period for people who have recovered from corona infection means that insurance companies have become alert about the high mortality rate after infection. The number of claims has seen a tremendous increase in the last two years. Now with this rule, the increasing expenditure in claim settlement can be controlled.
first published:Jan. 15, 2022, 1:55 p.m.