Amid Covid scare, life insurers go slow on renewing group-term plans

The worsening Covid-19 scenario in the country, with infections as well as deaths rising at an alarming rate, and the adverse claims experience of life insurers have made them apprehensive of renewing group-term policies of some corporate entities, citing low premiums, among other things.
 
Group-term policies offer life insurance cover to a group of people under a single policy. A group insurance policy is not restricted to merely employer-employee groups but is also extended to others such as customers of banks, NGOs, professional groups, non-banking financial institutions, and microfinance institutions.
 
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