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GRACE PERIOD IN INSURANCE
Missed your term insurance premium? Here's what happens to your policy, claim, and life coverMissing a term insurance premium does not immediately cancel coverage. A grace period allows payment, and nominees receive benefits if deat...- Japan visa rules push out foreign residentsJapan's tightening visa rules are threatening the livelihoods of foreign entrepreneurs, including Nepalese restaurant owner Budhathoki Samj...
- Need over ₹2 crore for foreign education? From scholarships to SIPs - know the smart ways parents can plan for expensive foreign degreesThe escalating cost of foreign education, often underestimated by Indian parents, necessitates early financial planning. Beyond tuition, ac...
- Driver’s licence valid 30 days after expiry: Punjab & Haryana HC says insurer must pay compensation for accidentThe Punjab and Haryana High Court ruled that a driving license remains valid for 30 days post-expiration under the Motor Vehicle Act. This ...
- Health insurance new rule: You will get full coverage during grace period even if premium is unpaid, mandates IRDAINew health insurance rule: To bring some much-needed relief to health insurance policyholders, Insurance Regulatory and Development Authori...
- I forgot to renew my family floater health insurance policy; what should I do now?A health insurance policy offers a grace period of around 30 days after the due date to make sure the policy is active.
- IRDAI further extends time to pay life insurance premiumInsurance Regulatory and Developement Authority of India (Irdai) has already provided additional time for payment of renewal premium in cas...
- COVID-19: Irdai again extends grace period for life insurance policiesNow as the lockdown has been further extended up to May 17, 2020, the regulator has allowed extended grace period up to May 31 for all life...
- Renewal date of health, motor insurance policies further extended to May 15If your current health, motor insurance policy is expiring between March 25, 2020 and May 3, 2020 and you are not able to renew your policy...
- Renewal date for health insurance policies extended but will you be insured in this period?The policy does not stay in force unless renewed. This means any claim filed during the grace period is not considered by the insurer for t...
- Date for renewal of health, motor insurance policies extended to April 21If your current health, motor insurance policy is expiring between March 25, 2020, and April 14, 2020, and you are not able to renew your p...
- IRDAI proposes to standardise, simplify policy wordings of health indemnity insurance policiesThe objective of the guidelines on 'Standardization of General Clauses in Health Insurance Policy Contracts' is to standardise the common g...
- Irdai asks insurers to provide 60-day grace period for premium payment in KeralaHeavy rains and subsequent floods have adversely affected life and property in Kerala and some districts of Karnataka.
- Insurers can't accept defunct Rs 500/1,000 note towards premiumA news item has been brought to Irdai's notice, which says that the Authority has instructed insurers to accept old notes for premium.
- Demonetisation impact: Insurers ask IRDAI to extend policy renewal grace period to Dec 30The grace period for payment of premium on life insurance policies ranges from 15 to 30 days, depending on whether the frequency is quarter...
- 5 things you must know about renewing health insuranceHealth plans are typically offered as one year contracts and require a renewal every year. Some insurers may send a renewal notice.
- Insurance policy lapse a bother for both customers, cosScores of life insurance policy holders run the risk of losing their insurance covers when they fail to renew their premiums within a deadl...
- Steady rise in policy lapse rate puts insurers in a fixScores of life insurance policy holders run the risk of losing their insurance covers when they fail to renew the policy within a deadline....
- Insurers to adopt uniform definition of policy expiryDomestic life insurers may have to adopt a uniform definition for expiry of insurance policies to give more leeway to policyholders on prem...
- Adopt uniform definition for policy lapsation: IRDADomestic life insurers may have to adopt a uniform definition for lapsation of insurance policies to give more leeway to policyholders on p...
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