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Don’t allow lockdown to lock your insurance cover as well

image of lockdown - Don’t allow lockdown to lock your insurance cover as well

IRDA has given relaxation of 30 days in addition to the grace period of 30 days in the policy, for the payment of life insurance and health insurance premiums falling due during the lockdown time.
So, your policy will not lapse. However, claims falling due after the expiry is not considerable till the payment of renewal premium.
Hence I recommend you pay the premiums online and keep a continued cover. Don’t allow lockdown to lock your insurance cover as well.
You would be anyway paying the premium for all 12 months starting from last year’s expiry date. So better have it in active mode.

Susheel Agarwal

Susheel Agarwal

Susheel is a certified Happiness Coach, which enables him to help organizations develop healthy and happy workplaces. Years of extensive in-depth research by interacting with various leaders of happy & not so happy organizations, attending several Happiness and Leadership programs along with his own authentic experiences, Susheel has been successful in establishing a happy workplace. He currently works as a Thought Leader and a Passionate Coach, educating corporate leaders to do the same.

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