The Life Insurance coverage Council has said that the clause of ‘drive majeure’ is not going to apply in case of COVID-19 dying claims.
The council which leads the advocacy effort on the trade’s behalf earlier than the regulator, authorities and all different statutory our bodies has said in a press launch that every one life insurers, each private and non-private, are dedicated to course of any dying declare pertaining to COVID-19 on the earliest.
The council additionally confirmed that this step was taken to reassure clients who had reached out to particular person life insurance coverage corporations looking for readability on the drive majeure clause of their contract in addition to to dispel rumours on the contrary. All life insurance coverage corporations have additionally communicated to their clients individually on this regard.
The council’s secretary normal S N Bhattacharya mentioned that every one life insurance coverage corporations stand by their clients in these tough instances and the shopper shouldn’t be swayed by misinformation or misrepresentation.
“The life insurance coverage trade is taking each measure to make sure that the disruption brought on to policyholders, because of the lockdown is minimal, by offering them uninterrupted assist digitally, be it for honouring dying claims associated to COVID-19 or for servicing their coverage,” he mentioned.