Whoever says insurers do not pay out can not have come across the group risk industry, which is as ever rising to the challenge as these benefits, employer-sponsored life assurance, income protection and critical illness benefits, come into their own.
Over the years, whatever the catastrophic event the group risk industry has been there, quietly and quickly working in the background to help alleviate financial distress. Not only have death claims been paid quickly, but group risk providers also ensure much needed ongoing support and counselling is made available to victims and their families.
The Covid-19 (Coronavirus) pandemic is no exception to this.
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