Hello Aman,

This is an interesting question.

Can you share with us a brochure or wording from any term insurance company where you have seen a Force Majeure clause?

Regards,

Team Beshak

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Hello Aman,

We have checked with some other insurance companies, even LIC - and we couldn't find this clause in any of them.

But there isn't anything to worry about here.

• Per the extract you have shared, Force Majeure is a clause that is a situation where there is a situation that arises beyond the insurance company's control.
• Pandemic lockdown is an example of a force majeure event - Now if an insurer is not able to operate and pay claims since they aren't able to send their team to office, then they will not be breaching the policy contract.
• Also, this clause mentions that they can invoke the clause only after approval from IRDAI - so an arbit decision to invoke force majeure is avoided in most cases.

Hope this clarifies.

Regards,

Team Beshak

The formatting issue is a bug. We have reported this to our Tech team and they will be work on it. Cheers!