Buying new policies where insurers need to carry out medical tests are taking time and have slowdown. No more new policy issuance for NRIs or those with recent travel history. So, overall, insurance industry has been hit from many directions” says Rakesh Goyal, Director, Probus Insurance Broker. We tell you how the insurance industry is dealing with novel coronavirus, or COVID-19.
“Hiking the deposit insurance cover for bank depositors from Rs 1 lakh to Rs 5 lakh is a positive and much awaited step. It was very much necessary to boost the trust and regain the confidence of depositors in bank deposits,” says Rakesh Goyal, Director, Probus Insurance Broker.
Rakesh Goyal , Director, Probus Insurance Broker, says people often fall for low premium traps when buying a travel plan. “They don’t read terms and conditions well in advance and don’t check if the plan offers fixed coverage or not or if the plan can be used for all the trips throughout the year,” he says.