Life insurers are scrambling to encourage customers from not surrendering their policies, reacting as the coronavirus pandemic devastates the economy and limits incomes. Insurers the number of policies surrendered has fallen, but that trend may not last.
Life insurers, in order to avert surrenders, provide loans against policy, or bridge loans, to policyholders. Such loans come at a cheaper rate of interest than personal loans and they can be repaid whenever the policyholder wants. Typically, these loans are available against traditional policies, which generally attract high surrender ...
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