Health, motor insurance policy renewal extended till 15 May

Union Finance Minister Nirmala Sitharaman has said that policyholders can now renew their health and motor insurance until 15 May. This is keeping in mind the ongoing COVID-19 lockdown.

Sitharaman said this is lessen the problems being faced by policyholders whose health & motor (third party) insurance policies are due for renewal during COVID-19 lockdown.

In her post on Twitter she said, “With a view to mitigate hardship to policyholders whose health & motor (third party) insurance policies are due for renewal during COVID-19 lockdown, Govt. has issued notification allowing policyholders to make payments on or before 15.05.2020 towards renewal of their policies.
The government has issued notification allowing policyholders to make payments on or before 15.05.2020 towards renewal of their policies”.

The extension is for the insurance policies that are due between 25 March and 3 May.

Sitharaman said that the move is to “ensure their continuity and hassle-free claims payment during the above grace period”.

This comes a day after the government issued a revised list of guidelines that are to be followed during the extended phase of the coronavirus lockdown. Prime Minister Narendra Modi has extended the 21-day coronavirus lockdown till 15 May.

Maharashtra, Delhi and Tamil Nadu are struggling with the rising number of coronavirus cases. Maharashtra has registered the highest number of coronavirus cases in the country.

Watch in Sign Language