Lockdown: Date for renewal of health, motor insurance policies extended to April 21

New Delhi: Providing relief for third party Motor Insurance and Health policy holders in the light of COVID-19 lockdown, the government on Thursday announced extension of renewal of health, motor insurance policies dates to April 21.
The Ministry of Finance has issued notifications on April 1, 2020, stating that the renewal dates of Health and Motor insurance policies which fall in the period from March 25, 2020, to April 14, 2020, are extended till April 21, 2020 due to coronavirus lockdown.
This means that the existing policies which are falling due for renewal from March 25, 2020, to April 14, 2020, can be renewed up till April 21,2020.
Third Party Motor Insurance :
If a person’s current compulsory third-party Motor insurance policy is expiring between March 25, 2020, and April 14, 2020, and he is not able to renew the policy because of country-wide lockdown then he can renew such motor insurance policy by April 21, 2020.
According to the notification issued by Ministry of Finance, “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.’

Regular health insurance policy:
Similarly, if health insurance policy is expiring and is due for renewal in the period from March 25, 2020, to April 14, 2020, it can be renewed by April 21, 2020.

As per the notification, “The policyholders whose health insurance policies fall due for renewal during the period on and from the March 25, 2020 to the April 14, 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 April 21, 2020 to ensure continuity of the health insurance cover from the date on which the policy falls due for renewal ‘.