Alexandoy
VIP Contributor
This concern was raised last year when the lockdown had started. Many have lost their job that for sure the installments couldn’t be paid. Cars and appliances that were bought on credit became a big issue that the government appealed to the the dealers to give consideration to the buyers. The insurance premium is also in the same vein that the jobless person has to surrender the policy.
In a dialogue that I had seen on the news, the insurance companies offered the insured to surrender the policy in order to be processed. The insured can, at least, receive the total amount of the premium he had paid and some interest provided the policy is more than 2 years old. That is a good bargain.
In a dialogue that I had seen on the news, the insurance companies offered the insured to surrender the policy in order to be processed. The insured can, at least, receive the total amount of the premium he had paid and some interest provided the policy is more than 2 years old. That is a good bargain.