In the wake of the ongoing extension of coronavirus lockdown up to May 3rd, Finance Minister Nirmala Sitharaman said that policyholders can now renew their health and motor insurance policies till May 15.
Tweeting to this effect on Thursday, Sitharaman said that the move is aimed to mitigate the hardships of policyholders ‘whose health & motor (third party) insurance policies are due for renewal during COVID-19 lockdown’.
‘Govt. has issued a notification allowing policyholders to make payments on or before May 15, 2020, towards the renewal of their policies,’ her tweet read. The extension is for the insurance policies that are due between March 25 and May 3.