Insurance companies' premium increased amid the third wave of Corona

Everyone is busy preparing to fight the third wave of Omicron and Corona. During the second wave of Corona, health insurance proved to be a boon for massively infected patients. But on the other hand, insurance companies had to pay long and wide claims. In such a situation, in the midst of the third wave, insurance companies have increased the prices of their products. Obviously, if the third wave wreaks havoc, then people taking life insurance policies may have to pay higher premiums.

In fact, the impact of inflation on insurance policies has hit the premium the most. In this too, the rates of term insurance have increased the most. Term insurance is such a segment for insurance companies, where companies spend the most money. Obviously, companies have started targeting these term loan rates first, taking lessons from the second wave of Corona.

The first to increase this rate was started with SBI. There has been a tremendous increase in the rates of premium of SBI Life. Where the premium of SBI Life was Rs 15,070 in March 2020, the same premium increased to Rs 17,495 by January 2022. It is clear that an increase of 2,425 has been registered in the rates of its premium.