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Government extends health insurance, motor insurance renewal dates till May 15

The renewal dates of health and third party motor insurance which fall during the period of March 25 to May 3, can now be renewed till May 15, the Office of Finance Minister Nirmala Sitharaman tweeted a circular dated April 15.

By: Express Web Desk | New Delhi |
Updated: April 16, 2020 11:44:09 am
The office of Finance Minister Nirmala Sitharaman has tweeted a circular extending the renewal dates of health and third party motor insurance policies. (Representational image, source: Getty Images)

In a bid to provide some relief to health insurance and third-party motor insurance users of the country amid the ongoing nationwide lockdown, the government has extended the renewal dates of such policies till May 15.

The renewal dates of health and third party motor insurance which fall during the period of March 25 to May 3, can now be renewed till May 15, the Office of Finance Minister Nirmala Sitharaman tweeted a circular dated April 15.

 

This essentially means that such policies would now not lapse before May 15. Generally, on non-payment of renewal amount on or before the designated due date, such insurance policies cease to exist.

Even if some insurance companies allow renewal such policies after the due date, the customer is generally required to pay a penalty or fine in such cases.

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