Irdai had introduced two Covid specific products in the market - Corona Kavach and Corona Rakshak - that saw huge acceptance among the consumers as these products had lower premiums.
As many as 121,739 claims settled by insurers so far, amounting to Rs 1,165.81 crore.
The Saral Jeevan Bima product to be offered by all life insurance companies will be a non-linked non-participating individual pure-risk premium life insurance plan.
Many insurers either do not cover consumables like PPE kits, gloves, etc at all or cover up to a certain limit, warns Amit Chhhabra.
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