Life Insurance policy for COVID 19

Coronavirus is rapidly spreading throughout the world. Every day new cases of COVID-19 are coming up. According to reports, in India, 166 people have been infected with the coronavirus. According to the Ministry of Health and Family Welfare reports, three people have died in India due to COVID-19. Whereas the total number of deaths all across the world is near to 8,500 so far. 

This had led to an obvious question in the minds of the life insurance policyholders – whether or not their insurance policy covers the treatment of COVID-19?

According to government regulations, a newly discovered illness is automatically covered under the existing policies. It is done through a notification that IRDA (Insurance Regulatory and Development Authority of India) issues regarding the same. 

Also Read: Coronavirus Pandemic: How To Protect Yourself Better At Home?


Let’s get to know the details of life insurance policies regarding cover against coronavirus treatment:

  • If you already have a life insurance policy

You should be aware that life insurance covers death due to health-related issues. So, if a person dies due to COVID-19, their nominee will receive the money as the death benefit. In other words, the death benefit is the total sum that the insurance company pays to the nominee. The nominee can verify the amount of money they receive in the insurance policy documents.

Ms. Santosh Agarwal, Chief Business Officer,, confirms “In the rare event, if you die from a pandemic illness, your beneficiary will receive the death benefit”.

  • If you do not have a life policy but planning to buy soon

If you are thinking of getting a life insurance policy now, the insurer will determine the premium amount based on your health condition. Your medical history is also a major deciding factor here. During this time of crisis due to coronavirus, you might face some hiccups while the insurer processes your application. There is also a huge possibility that the current scenario of coronavirus can affect premiums of your life insurance policy. 

If you are already infected with coronavirus, your application for life insurance may or may not be accepted. In such a case, the decision totally depends upon the insurance company. (Also Read: COVID-19 Leaves Immense Uncertainty For Businesses Across The Globe )

  • If you have applied for life insurance recently

If you contract coronavirus after buying the policy, it makes the claims payable to the nominee of the insurance policy, provided all the details about your medical history are true and accurate. The insurance company may also increase the premium of your policy. After that, the insurance company briefly examines your health and extends the cover against coronavirus. However, just to reassure, the policyholder must analyze the policy to check for the excluded medical conditions. So, you must scrutinize the insurance policy to make sure that it includes the cover against corona.

What happens if insurers consider COVID-19  as a critical illness?

It is another concern if your insurer considers COVID-19 as a critical illness. In this case, the benefits may or may not be paid out as per the terms and conditions of the policy. 

If you are having cover against critical illness and you file a claim, the doctor will advise you some do’s and don’ts. If you do not adhere to it, your insurer can reject the further claims under critical illness. The CEO of Bank, Adhil Shetty says “ For life insurance policies with critical illness benefits, claims may not be entertained in an instance where medical advice was not adhered to/by the policyholder.”

The above-mentioned information must have resolved your doubts. For further information, you should check with your life insurance provider.


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