All life insurers, both public and private, are committed to process any death claim pertaining to COVID-19 at the earliest,the Council said in a statement.
It said the clauseof Force Majeure’will not apply in case of COVID-19 death claims.
Force Majeure is described as an event or effect that can be neither anticipated nor controlled.
The spiralling global and local impact of COVID-19 pandemic has emphasized the fundamental need for life insurance in every household. 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 honoring death claims related to COVID-19 or for servicing their policy,” said Life Insurance Council Secretary General S N Bhattacharya.
“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.