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Insurance grace period may give rise to disputes

All policies expiring during the lockdown should be deemed extended for this period and one week thereafter

Topics
Coronavirus | Insurance Sector | Lockdown

Jehangir B Gai 

Jehangir B Gai

In view of the lockdown due to the Covid 19 pandemic, it has become impossible for most citizens to renew their medical and other policies unless they are net savvy and have an online banking facility. If renewal premium is not paid in time, there would be a break in continuity, and existing ailments would stand excluded if renewed at a later date after the lockdown ends.

With a view to overcoming this difficulty, the Ministry of Finance has issued notifications from time to time to provide for a grace period for payment of renewal premium. The wording of the notification is likely to ...

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First Published: Thu, May 07 2020. 02:52 IST
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