Special News- Current Status of Life Insurance 2022

Special News- Current Status of Life Insurance 2022

Since the arrival of the disaster corona all over the world, as other businesses are suffering from the effects of corona, life insurance has also been affected by the bad effect of corona. Life insurance companies are unable to pay their dues to their customers properly. Life insurance companies in Bangladesh are not able to pay their dues even after the expiry of the term. As a result, the trust that many people had before in life insurance has decreased a lot. They think that instead of putting money in life insurance, they will keep the house money at home. Even banks are losing faith.

I made a small mistake. It is not true that money is not getting at all. The customer received the money he owed, but too late. If there is no problem, the life insurance company pays all the dues after one month or three months after the expiry of the term of the customer. There are people who are still getting their due after a year and some after two years after expiry due to corona. That means delaying. And because of this late payment, many customers feel that they will not buy life insurance premium. ie no account will do.

Why do People Buy Life Insurance?

People buy life insurance to ensure future security. That is, to deal with the risk of danger. But if the life insurance company can't pay their insurance money on time, can't accept the risk, then it is natural that people will lose confidence in the life insurance company. And exactly this natural phenomenon is happening since Corona. Disasters are going on all over the world now. And so like all other companies, life insurance companies are also having an adverse reaction.