India: COVID-specific policies can be renewed until 31 March
Source: Asia Insurance Review | Nov 2020
The standard short-duration COVID-19 specific health insurance policies of any tenure in India can now be renewed for further terms of three and half months, six and half months or nine and a half months as per the option exercised by the policyholder.
A circular issued by Insurance Regulatory and Development Authority of India on 13 October said that the Corona Kavach and Corona Rakshak policies can be renewed until 31 March 2021.
During the renewal period, a change in insurance cover sum can be opted by the policyholder. At the same time, general and health insurers have also been permitted to allow portability of Corona Kavach from one insurer to another. A