New life insurance policy: Waiting period for people recovered from COVID

January 14, 2022 13:27

Corona cases across states

People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy, with insurers making the waiting period requirement applicable for coronavirus cases like other ailments.

As a standard practice, all life and health insurance companies require people to wait for a specific period with respect to certain ailments and diseases to gauge the risk before selling a policy.

This condition of waiting period for people who have recovered from coronavirus infection will be applicable only for life insurance policies. Industry experts said the waiting period for individuals, who have recovered from coronavirus infection, in order to take a new insurance policy has been implemented against the backdrop of high mortality rate related to coronavirus infection.

Reinsurers have asked insurance companies to bring coronavirus infection cases also under the standard waiting period norms as high mortality rates have impacted the reinsurance business.

The waiting period is about one to three months, they added. Reinsurance players provide the cover for insurance policies issued by insurers.

« Back to LIVE

TOP STORIES

Supreme Court: ED can't arrest accused after...

A bench of Justices Abhay S Oka and Ujjal Bhuyan said when an accused appears before a court in pursuance of a summons, the agency will have to apply to the court concerned to get his custody.

Mamata's ploy to...: Cong's Adhir on INDIA olive branch

Chowdhury termed Banerjee as an "opportunist politician" who altered her stance after realising the changing political landscape.

11 killed in lightning strikes in Bengal's Malda

The district administration has announced a compensation of Rs 2 lakh each for the families of the deceased, he said.

Swati Maliwal 'assault': FIR registered against Kejriwal's aide

The BJP attacked Kejriwal after he refused to comment on the Maliwal "assault" matter during a press conference in Lucknow. He was flanked by Samajwadi Party (SP) chief Akhilesh Yadav and AAP Rajya Sabha member Sanjay Singh.

Rain in Hyderabad spices up IPL playoffs race

Thanks to a rain-washed match against Gujarat Titans, SRH climbs to 15 points in 13 games.