While the country reported over 3.91 lakh deaths due to Covid-19 pandemic, only 14 per cent of them – 55,276 deaths – have made insurance claims so far, indicating the poor life insurance penetration in the country.
Out of 55,276 claims intimated to the insurance firms, nearly 88 per cent — 48,484 claims — amounting to Rs 3,593 crore have already been settled, said L Alamelu, Member (non-life), Insurance Regulatory and Development Authority of India (IRDAI).