NEW DELHI : The finance ministry on Thursday extended the deadline for paying health and third party automobile insurance premiums. If a policyholder’s insurance premium is due for renewal during the lockdown—25 March to 14 April—and they are unable to pay on time, such payments can be made by 21 April. The step will give relief to policyholders who are unable to make payments amid the three-week nationwide lockdown. This relaxation includes continuity benefit for insurance policyholders, despite a delay in premium payment, till 21 April in this case. The coronavirus disease has disrupted business activities, led to factory shutdowns, closure of schools and colleges, along with complete ban on transportation barring movement of goods.

Source: Mint April 02, 2020 06:54 UTC