30 days deferment to pay life insurance premium
05 Apr 2020 ( News Bureau )
The Insurance Regulatory and Development Authority of India (IRDAI), the government agency regulating the insurance industry in India, has announced major relief for the insured.
In the time of Corona crisis, IRDAI has granted 30 more days to IRDAI to pay the life insurance premium. This relief is for those policies of life insurance whose renewal date was falling in the months of March and April.
In case of health policy and motor insurance, IRDAI has already announced additional time to pay the premium for third party insurance. After the rebate given to the general insurance companies, companies providing life insurance had demanded 30 more days of deferment from IRDAI.
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