Even as the coronavirus pandemic continues to rage, policyholders are giving up their life cover at a rapid pace amid pay cuts, job losses and general economic uncertainty, top executives at four life insurance firms said.In the June quarter, the 13-persistency ratio, which measures how long a policyholder retains insurance, declined by an average of close to 10 percentage points from a year ago, the executives said on condition of anonymity. The decline means many customers did not renew policies after paying the first year’s premium.
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