The Finance Ministry said policyholders can pay the renewal premium amount on or before April 21 to ensure the continuity of the plan.
This means that motor and health insurance policies ending in the lockdown period will not lapse till April 21. (Photo: PTI)
The Finance Ministry on Thursday announced that the validity of health and motor vehicle insurance policies has been extended till April 21 in view of the nationwide lockdown due to Covid-19 pandemic.
The central government said the extension is for people whose renewal dates for health and motor vehicle insurance policies fall in the lockdown period- between March 25 and April 14.
This means that motor and health insurance policies ending in the lockdown period will not lapse till April 21.
“The government has provided relief for third-party auto insurance policy holders and health insurance policy holders in light of the Covid-19 situation,” the Finance Ministry said in a tweet.
Government provides relief for third party Motor Insurance & Health policy holders in the light of #COVID19 lockdown.For more details: https://t.co/ScMs9iqNxP#IndiaFightsCorona pic.twitter.com/P2yzm74wc4
Ministry of Finance #StayHome #StaySafe (@FinMinIndia) April 2, 2020
The notification said the order has come into effect from April 1. The Finance Ministry said policyholders can pay the renewal premium amount on or before April 21 to ensure the continuity of the plan.
“The policyholders whose motor vehicle third party insurance policies fall due for renewal during the period on and from 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 coronavirus disease (COVID-19), are allowed to make such payment for renewal of policies to their insurers on or before the 21st of 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,” the notification stated.
The same was stated for health insurance policyholders.
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