The Ministry of Finance, Government of India on April 1 extended the deadline for the renewal of Health and Motor Insurance policies from the previous period of March 25, 2020 to April 14, 2020 to now April 21 in light of the nationwide lockdown to limit the spread of COVID-19.
The notification reads –
“The policyholders whose motor vehicle third party insurance policies fall due for renewal during the period on and from the 25th March 2020 up to the 14th April 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19), are allowed to make such payment to their insurers on or before the 21st April 2020 to ensure continuity of the statutory motor vehicle third party insurance cover from the date on which the policy falls due for renewal.”
With regards to Health Insurance –
“The policyholders whose health insurance policies fall due for renewal during the period on and from the 25th March 2020 to the 14th April 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19), are allowed to make such payment for renewal of policies to their insurers on or before the 21st April 2020 to ensure continuity of the health insurance cover from the date on which the policy falls due for renewal.”
This extension comes after the Government had also passed an Ordinance to relax and extend the date of filing annual returns et al till June 30.
The PIB released is attached herein
