Hiccups in renewal of staff term life covers

Hiccups in renewal of staff term life covers
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Synopsis

Max Life, PNB MetLife, ICICI Prudential Life, HDFC Life, Kotak Life and Tata AIA are among the firms that are reportedly enforcing stricter underwriting norms for companies seeking life covers for their staff. Higher mortality risks due to the pandemic may be discouraging them, leading distributors and brokerages said.

Many Indian businesses, regardless of size, are facing difficulties in either renewing or buying fresh term-life covers for their employees. Several top private-sector life insurers are either quoting significantly high premiums or unwilling to extend fresh mortality benefits. Max Life, PNB MetLife, ICICI Prudential Life, HDFC Life, Kotak Life and Tata AIA are among the firms that are reportedly enforcing stricter underwriting norms for

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