Good News to all Life Insurance Policyholders for their
renewal premium payment. Looking into the inconveniences to policyholders due
to recent demonetization Insurance Regulatory and Development Authority of
India has issued instructions to all Life Insurers in India to extend grace
period to all life insurance policies which renewal premium are due between 8th
November 2016 to 31st December 2016 for another 30 days.
For example if your policy renewal premium is due on 31st
December 2016 then you have the option to pay your premium by 28th February
2016 without any late fees charges. In another words, all policyholders whom
policy is due for renewal in between above dates will get one month extra insurance
risk coverage for paying their renewal premium.
This move will help lakhs of policyholders and it’s in the interest of policyholders.
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