Impacts of Covid-19 pandemic on life insurance business in India

• Main Authors: Ahmad, Shakil, Saxena, Charu
• Format: Conference Proceeding
• Language: English
• Subjects: Coronaviruses; COVID-19; Disease transmission; Insurance; Insurance industry; Life insurance; Pandemics; Viruses
• ISSN: 0094-243X; 1551-7616
• DOI: 10.1063/5.0158532

Corona virus has turned into a disturbing pandemic for our earth. Without any appropriate medication and immunization for the treatment of COVID-19, the Indian government forced a lockdown from March 24, 2020 to keep away from local area transmission of Covid in people. Specialists have believed that the current situation will keep on existing for the present and is probably going to cause more passing’s, negatively affecting the generally hopeless state of the economy, general wellbeing, and business; causing a lot of trouble among individuals intellectually and genuinely. It has influenced all areas of the economy, particularly in the Insurance area. Because of the wiping out of movements, occasions, and other financial misfortunes, the Indian life insurance industry saw a gigantic misfortune. The paper expects todistinguish the difficulties of the Indian life insurance area emerging from the Covid-19pandemic. The adverse consequence of the Covid-19 is expansive and fast, however the drawnout results might seem, by all accounts, to be positive for the disaster life insurance. In view ofwork area examination of currentinsurance news, data & reports, we sort the expected effect of the corona virus for the life coverage industry and infer some broad ends.