“Applicants with medical history will be treated differently, like those with co-morbidity. Such people are already treated as sub-standard life categories. In some cases, unfit Covid survivors are treated on a par with those with co-morbidities and charge extra mortality,” said Avdhesh Gupta, appointed actuary of Bajaj Allianz Life.
Survivors will also be subject to a Covid questionnaire. Those who travel abroad will see their proposals being accepted a month after landing. Lakhs of people, who survived Covid-19, are expected to deal with long-term medical issues like heart, kidney and lung damage, especially those who were hospitalised for four weeks or above, after contracting the coronavirus.
Aditya Birla Sun Life Insurance’s chief actuarial officer Anil Kumar Singh said: “Such restrictions are placed under the guidance of reinsurers. We do not have the data to assess the risk factor, and hence charge the additional premium.”
“Cost of life insurance cover will be decided after the three-month waiting period and depends on the effect the virus has had on the individual’s health. Additional premium charges are decided based on how many organs are impacted,” said Singh.
“In case of no complications or long-term effect reported by a Covid survivor, no extra charge will be placed. And if the person has declared with no history of Covid or in contact with those infected, they are assumed to not be infected and treated with no restrictions,” he added.