The Union Government has allowed health insurance policyholders to defer payment of their renewal premium falling due during the period of the lockdown that has now been extended till May 3. The finance ministry in a revised notification has now allowed third party health insurance premium dues falling during the period of national lockdown between March 25 and May 3, to be paid on or before May 15.
In the earlier notification, this relaxation was allowed for initial lockdown period from March 25 to April 14 where policy holders were asked to pay premium dues till April 21. But since the period of lockdown has been extended, premium dues can be paid after the lockdown ends.
The changes have been made in view of the prevailing situation in the country due to Covid-19 disease and consequent 19-day extension of national lockdown from April 15 to May 3, 2020.
The latest changes in compliance measures for insurance customers had come after finance ministry allowed similar deferral in performance of statutory duty in respect of direct tax and indirect tax last month.
(With inputs from IANS)