 "Life insurance, insurance")
Regulator Irdia has provided an additional 30-day grace period for policyholders to pay the premium on life insurance policies, whose renewal date fall in March and April amid the lockdown to fight against coronavirus pandemic.
Insurance Regulatory and Developement Authority of India (Irdai) has already provided additional time for payment of renewal premium in case of health insurance policies and motor third party insurance.
Responding to representations made by life insurers and Life Insurance Council, the regulator issued the instructions for providing the additional grace of 30 days for premium payments.
The insurers and the council had flagged operational constraints and difficulties being
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