Ministry of Finance further extends the due date for renewal of health insurance policy installment

Apr 16, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Ministry of Finance on April 15, 2020, further extends the due date for renewal of health insurance policy installment.

Due to Corona Virus disease (COVID-19) and consequent extension of lockdown period by further nineteen days starting on and from April 15, 2020 up to May 03, 2020, Ministry of Finance amend the Notification No. S.O.1238(E) dated April 01, 2020.

In the Notification, the words beginning with “The policy holders whose health insurance policies”, and ends with “on which the policy falls due for renewal” has been substituted, namely:

The policy holders whose health insurance policies fall due for renewal during the period on and from March 25, 2020 up to May 03, 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 May 15, 2020 to ensure continuity of the health insurance cover from the date on which the policy falls due for renewal, so that any valid claim triggered during the grace period can be paid.

[Notification No. S.O. 1259(E)]


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