The Insurance Regulatory and Development Authority of India in its press release dated 9th May 2020, has allowed extended grace period up to May 31 for all life insurance policies whose premium was due in March keeping in view the difficulty faced by some policyholders to renew the policies in time.
To provide relief to the life insurance policyholders, IRDAI had announced on 23rd March 2020 and 4th April 2020, additional Grace Period of 30 days for the policies where premium fell due in the months of March 2020 and April 2020.
Click here to read the Notification.
