Insurers impose new restrictions to curb coronavirus payouts

An Insurance Business Magazine article.

Life insurers are imposing restrictions to stem the tide of payouts tied to the COVID-19 pandemic, including long-term health consequences that as yet are not fully understood.

Life insurers have begun imposing waiting periods before COVID-19 patients – including those who have recovered – can apply for coverage, according to a Reuters report. Some insurers are also limiting coverage for certain age groups.

The changes come as reinsurers push for new safeguards from life insurers.

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