Gross sales of life insurance coverage merchandise associated to COVID-19 have reportedly surged in Japan, as the general public is apprehensive in regards to the destructive monetary results attributable to contracting the illness.
The insurance coverage product will present a lump sum of as much as ¥400,000 (SG$4,920) for hospital stays or dwelling restoration, in case the policyholder is contaminated by the coronavirus.
Earlier this month, Dai-Ichi Life Insurance coverage Co. launched a product that can pay out ¥100,000 if the policyholder is identified with COVID-19. The coverage’s premium modifications per thirty days, relying on the variety of infections in Japan.
Within the week for the reason that product’s launch, Dai-Ichi mentioned it has bought round 3,000 insurance policies. – insurancebusinessmag.com