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    Financial Lessons to Learn

    Last Updated On 09-02-2021

    The year 2020 brought an unwelcomed guest into everyone’s life in the form of Coronavirus. While the whole world shut down and people sat inside their homes, the risk of falling sick and leaving loved ones without a financial aid was on everyone’s minds. Thankfully, term insurance brings a ray of hope for families by securing their financial needs in the unfortunate event of the chief earning member’s demise. However, there remain some misconceptions about whether a term insurance plan covers death due to COVID-19. Read on to know more.

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    Does an existing term insurance plan cover death by COVID-19?

    Yes, if an individual has an existing term insurance plan, it will cover death from the deadly coronavirus. The coronavirus pandemic has caused many deaths and poor health all over the world. As a result, insurance companies have included death by the virus in their list of policy inclusions. Death by the COVID-19 is considered as a ‘general death’ by insurance companies and the nominee will be given the sum assured at the time of settlement as far as all other terms and conditions are met and all the previous premiums have been paid in full. However, the insurance company may ask the nominee to submit relevant medical records or doctor’s prescriptions to support the death claim.

    Can a new term plan be purchased to cover death by COVID-19?

    Yes, a fit and healthy person can buy a term plan. But, the insurance company may ask for the person’s past health records to know their health history. In case a person is suffering from COVID-19 at the time of purchasing the policy, the insurance provider can refuse to sell the insurance plan. Under such circumstances, the insurance company will consider coronavirus as any other health condition and deem the applicant unfit.

    How can one secure their loved ones in these uncertain times?

    Given the unpredictability of the current times, it may be advised to purchase an adequate life cover. A term plan can be a cost-effective way to ensure a family is taken care of financially in unfortunate circumstances. Moreover, since COVID-19 has been affecting people of all age groups in diverse ways, a term insurance plan with a critical rider can be a great way to cover medical costs arising from various health problems.

    A term insurance policy, such as the Mera Term Plan from PNB Met Life offers many benefits to families by safeguarding their future interests. The sum assured can be used to cover the costs of higher education, marriage, loan repayments, and investment premiums, among other things. In addition to this, the critical illness rider and the serious illness rider ensure that the costs of hospitalization, medicines, etc. are not borne out of an individual’s pocket.

    Apart from buying a suitable term insurance plan, it also helps to take all necessary precautions to avoid contracting the deadly virus. Following social distancing norms, avoiding public places, and leading a healthy lifestyle with adequate exercise can also ensure good health in general.

    To sum it up

    Since the vaccination for COVID-19 is around the corner, better times are soon to come. In the meantime, it can be advised to follow the necessary measures and protocols to stay safe. Insurance companies have been forthcoming to help people tide out of these times. So, make sure to purchase a suitable term insurance plan that can offer the required financial support to a family to carry on with their lives with dignity and comfort.



    The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.

    PNB MetLife Mera Term Plan Plus is an Individual Non-Linked, Non-Participating, Pure risk premium Life Insurance Plan | Product UIN Number – 117N126V01
    ^Maximum maturity age 99 years for all options (except Joint Life cover option/Life Plus Health Option). Life Plus Health Option/Joint Life Cover Option: 75 years (applicable for both Primary and Secondary life).

    PNB MetLife India Insurance Company Limited
    Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka
    IRDAI Registration number 117 | CIN U66010KA2001PLC028883
    For more details on risk factors, please read the sales brochure and the terms and conditions of the policy, carefully before concluding the sale.
    Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.
    The marks "PNB" and "MetLife" are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969, Phone: 080-66006969, Website:, Email: or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203.


    Beware of Spurious Phone Calls and Fictitious / Fraudulent Offers!
    IRDAI is not involved in activities like selling insurance policies, announcing bonus or investments of premium. Public receiving such phone calls are requested to lodge a police complaint.



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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at or You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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