Business

Personal accident plan does not cover covid’s death

My brother and I were taking out a mortgage with a loan compensation policy through a bank. Unfortunately, my brother recently died because of covid.

When I filed the complaint, the company denied the same and stated that the policy was only for personal accidents. My father, who was shocked by the news of his brother’s death, also recently died.

I am the only one who takes care of my family now. Help me.

—Neetad Baranwal

For mortgages, banks generally insist on purchasing three products: personal injury, home insurance, and life insurance. Covid’s death is covered by a life insurance plan.

You should check with your bank for life insurance products that may be attached to your mortgage. It is issued by a life insurance company. You can also check your mortgage statement for the charges deducted from your life insurance.

Apart from this, you can see if your brother and father were enrolled in Pradan Mantrisie Banjoti Bimayojana.This is a life insurance system and you pay a lump sum 20,000 rupees for the candidate. Their bank statement shows this premium deduction.

Personal accident planning only covers accidental deaths. Such plans exclude deaths caused by natural causes or illnesses such as covid. Life insurance plans cover all types of death, from natural causes to accidental deaths.

Abhishek Bondia is CEO and Managing Director of SecureNow.in.

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Personal accident plan does not cover covid’s death

Source link Personal accident plan does not cover covid’s death

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