Does Life Insurance in India Cover Deaths Due to Coronavirus?

2024-08-02

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The world is currently grappling with the most extraordinary public health challenge of the century- Coronavirus. The infectious viral disease, declared as a pandemic by the World Health Organisation (WHO), has claimed 40lakh+ lives so far all over the world. As countries impose lockdown and other measures to ensure the safety of their citizens, clinical trials of newer drugs to treat the conditions are underway.

India has also witnessed a sharp rise in the number of infections especially in the 2nd wave with several cities/state periodically going in complete lockdown with suspension of public transport to contain the spread of Coronavirus. Healthcare officials believe the country is at a critical stage in the progression of the disease at the community level. Indians are practicing self –isolation, working from their homes and avoiding large gatherings outside. Are you one of those wondering if a life insurance policy can take care of your family in the event of a fatality after contracting the disease? Let us take a look.

Existing Policy Holders Have an Advantage

The importance of life insurance cannot be underlined enough in tough times such as today when COVID-19 has engulfed the globe. After all, it is meant to cover the risks that you envisage in the future and offer sufficient protection to your loved ones in your absence. The nominee or dependants enlisted by the policyholder at the time of purchasing life insurance get a death benefit in the event of the death of the insured. This means that the death of the person in whose name the policy is bought is insured as an event even if it is caused by a health-related issue such as a COVID-19 outbreak.

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