An applicant fills out an insurance form. Photographer: Jim R. Bounds/Bloomberg
Life insurers are expected to increase premiums for term plans as claims spiked during the Covid-19 pandemic.Reinsurers are becoming stricter about underwriting and the documentation required from customers, said Vighnesh Shahane, managing director and chief executive of Ageas Federal Life Insurance. “It will not be so easy or cheap to get a term product in India.”The quantum of hike, he said, will vary depending on the insurer, the ...