News Coronavirus watch02 Jul 2020

India:Insurance premiums unpaid during grace period can lead to rejection of claims

| 02 Jul 2020

Insurance Regulatory and Development Authority of India (IRDAI) had extended the renewal premium payment period for insurance policies four times in view of the countrywide lockdown imposed to curb the spread of COVID-19 in India. All insurance policies whose premium fell due after 25 March 2020 could have been paid before 31 May 2020.

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