COVID-19 insurance coverage gross sales surge in Japan

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.

In line with a report by The Japan Instances, Taiyo Life Insurance coverage Co. has mentioned that gross sales of its COVID-19 insurance coverage product, launched in September 2020, have exceeded 100,000 insurance policies, the quickest product from the insurer to succeed in that mark over the previous 10 years.

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









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