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Coronavirus Death Claim Settlement Cannot Be Declined:- The Life Insurance Council today said that the insurers have to settle all the claims if a person passed away due to coronavirus. Such settlements cannot be rejected said LIC. Both the public and private life insurers should process the death claims to coronavirus or COVID-19 at the earliest informed the Council in a statement today. The Life Insurance Council reminded everyone about the clause 'Force Majeure' and it would not apply in the case of coronavirus death claims.
It is described as an event that can be neither controlled nor anticipated. All the customers are no reassured about the insurance claims. All those can reach out and claim the funds even if the person passes away due to coronavirus. All the Life Insurance companies also communicated to their customers about this individually. SN Bhattacharya, the Secretary of Life Insurance Council said that there is a fundamental need for life insurance in every household at this time when the globe is badly hit by the coronavirus.
The Life Insurance Council released a press release about the same today that Force Majeure will not be applicable for COVID-19 or coronavirus.