Corona virus cases are increasing in the country. The World Health Organization (WHO) has already declared it an epidemic. Its cases in India have crossed 600 and the lockdown has been implemented for 21 days in the country. The central and state governments are taking all steps to stop the corona from spreading. People are also being asked to take precautions. In view of the increasing danger of corona, the question also comes to mind whether the person will be covered in life insurance on death from the corona virus, with this, if you take a life insurance policy now, it will be covered in Corona.
If the person dies due to corona virus, then in that case the person created by the nominee will get the amount in the form of death benefit. Death Benefit Insurance Company gives the nominee to the person or beneficiary created by the customer after his death.
On purchasing the policy, the policy holder tells the company about the people whom he wants to be a nominee and who will take the amount of death benefit in the event of his death. The nominee can also check the amount in the policy document.
If you are thinking about buying a life insurance policy at this time, then you should keep in mind that the insurer decides the premium of the policy based on your health and medical history. Therefore, it should be believed that a global pandemic such as the corona virus will have some effect on the policy. If you are currently in the process of application, it can have an impact on your policy approval and premium.
Policyholders should keep in mind that while purchasing a life insurance policy, there are conditions that are excluded from it, i.e. those who will not get cover.