Earlier this week, the government extended a nationwide lockdown to curb the spread of the COVID-19 disease.
New Delhi, April 16:
Finance Minister Nirmala Sitharaman on Thursday announced relief measures for those whose health and automobile insurance policies are due for renewal during the ongoing lockdown. Such policyholders will be able to renew their policies by May 15, said Nirmala Sitharaman. The move was aimed at mitigating the hardship faced by policyholders due to the coronavirus-induced lockdown. The government has issued notifications “allowing policyholders to make payments on or before 15.05.2020 towards renewal of their policies”, the Finance Minister said on Twitter.
This will impact those holding health and third-party motor insurance policies due for renewal during the March 25-May 3 period who are unable to pay the renewal premium due to the COVID-19 lockdown, according to two separate notifications issued by the Finance Ministry.
Eligible policyholders will be able to make payments on or before May 15 to ensure continuity of cover applicable from the original due date for renewal. In other words, insurers will continue to provide the the policy cover from the original due date.
Earlier this week, the Centre extended a 21-day nationwide lockdown by another 19 days to curb the spread of the COVID-19 disease. The government has said that all bank branches and ATMs will remain open during the lockdown period.
As of Thursday morning, the number of coronavirus cases in the country stood at 12,380 and 414 deaths. The World Health Organization (WHO) has said it will work with India – which eliminated polio in 2014 – to leverage the strategies that helped the country eradicate polio to fight the COVID-19 outbreak.
Courtesy: NDTV
