Insurance Claim: Many people died due to corona crisis, what will be the effect on the health of insurance companies
The number of claims related to Kovid with insurance companies has suddenly increased. Along with this, the decision to impose tax on optional tax regime and high value ULIPs has also had a negative impact on the health of insurance companies.
- During the Corona crisis, a sharp increase has been registered in the case of claims coming to the insurance companies.
- The death claim cases with ICICI Pru Life have increased from 1.11 lakh to 1.90 lakh.
- SBI Life has received 67,000 death claims last year as against 50,000 death claims.
Insurance Companies ( Insurance Companies ) these days is facing many challenges. If we talk about India, in the last few days, many people have lost their lives due to second wave of corona infection. The number of claims related to covid with insurance companies has suddenly increased. Along with this, the decision to impose tax on optional tax regime and high value ULIPs has also had a negative impact on the health of insurance companies.
If we talk about health insurance, then during the Corona crisis, a sharp increase has been registered in the case of claims coming to the companies. Due to the Corona crisis, lockdown has been done in many areas of the country, due to which people are not taking out and the premium of motor insurance has dropped. In the midst of all this, the interesting question is whether all these things can have an effect on the shares of insurance companies? In the year 2020-21, insurance companies have paid claims of ₹1986 crore in the case of covid-19.
pressure on insurance companies increased in the
year 2019-20 when there were no cases of coronavirus, at that time the insurance companies totaled 18,042 Settlement of death claims worth Rs . The figures of total death claims in the year 2020-21 are not yet available, but the figures of different companies are indicating that due to the people infected with the coronavirus in the country, the insurance companies (Insurance Companies). How bad is your health?
What do the figures say?
ICICI Prudential Life Insurance ( ICICI Pru Life ) has been increased to 1.90 million cases 1.11 million death claim. Similarly, SBI Life ( SBI Life ) has more than 50,000 death claims were 67,000 death claims last year. Due to the second phase of corona infection, the number of these figures may increase further. An analyst at Motilal Oswal Financial Services (MOFL) said, “Death claim cases related to people who died of corona infection may come to the fore by the next few quarters. Death claims (death claims) are likely to come up in the first half of the current financial year itself. Death claim) cases may exceed the total figures for the year 2020-21.”