Life Insurance Council, the face of the Indian life insurance industry, on Monday said that all life insurers, both public and private, are committed to process any death claim pertaining to corona virus (COVID-19) at the earliest. The Council also confirmed that the clause of ‘force majeure’...
In a major relief for life insurance policy holders amid the cornavirus crisis, the Insurance Regulatory and Development Authority of India (IRDAI) has extended the deadline for paying premium of life insurance policies, by another 30 days, which were originally scheduled to be paid in March...
The Government has allowed motor and health insurance policy holders to defer payment of their renewal premium falling due during the period of the lock-down.   The finance ministry in a notification has allowed third party motor insurance premium dues falling during the period of...

The coronavirus (COVID-19) outbreak and panic among citizens is a heaven-sent opportunity for insurance companies, because insurance sells on real and perceived fear. Last week, we wrote, how State-run Bank of Maharashtra (BoM) wanted to use COVID-19 as 'business opportunity' to sell more...
State-run insurance major Life Insurance Corporation of India (LIC) has extended the dealdline to pay insurance premiums up to April 15 in view of the coronavirus crisis.   In a statement, LIC also requested its customers to avoid visiting its offices to pay premium and stay indoors,...

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