Japanese insurer Taiju Life Insurance announced on Thursday that it will stop selling its COVID-19 insurance product due to the rapid spread of the virus' Omicron variant. Company officials said that the policy, which covers hospitalisation in case the policyholder contracts COVID-19, will no longer be sold, due to possible difficulties in paying out the lump-sum benefit to policyholders, Jiji Press recorded. The company has shut down sales of the product just six weeks after it was launched on Dec. 21. The product pays a lump sum of ¥100,000 if the policyholder is hospitalised for infectious diseases, such as COVID-19,…
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