Coronavirus impact: Date of renewal of health insurance policy and third party motor insurance extended till April 21, 2020.
The date for renewal of health insurance policies and third party motor insurance has been extended by the government of India. The order has come into effect from April 1 2020.
As per the notification issued by the Ministry of Finance on April 1, 2020, due to the coronavirus lockdown, the renewal dates of motor insurance and Health policies which fall in the period from March 25, 2020, to April 14, 2020, have been extended till April 21, 2020.
On April 1, 2020, Ministry of Finance said that this decision has been taken for a policyholder who are not able to make payment of their renewal premium on time and whose renewal dates for health insurance and third party motor insurance fall in the prevailing situation in the country of coronavirus disease (COVID-19).
This means that your existing motor vehicle third party insurance or health insurance policies which are falling due for renewal from March 25, 2020, to April 14, 2020, can be allowed to make such payment for renewal and renewed policies till April 21, 2020 and ensure continuity of the motor and health policies.
Policyholder may still voluntarily pay the premium through the online mode by visiting the website of the insurance company.
Health insurance policy
As per the notification, if health insurance policy is expiring and is because of renewal in the period from March 25, 2020, to April 14, 2020, policyholder can allow renewing their health insurance policy by April 21, 2020.
Third-Party Motor Insurance
According to the notification issued by Ministry of Finance, if your third-party Motor insurance policy is expiring between March 25, 2020, and April 14, 2020, and policyholders are unable to renew your policy due to current OVID-19 situation and country-wide lockdown then policy holder can renew such motor insurance policy by April 21, 2020.