30 days extension given by Insurance Companies to pay premium
Posted on: 29/Nov/2016 9:51:22 AM
Following the acute shortage faced by the public for immediately after the recent demonetization, and also with the limitation of the maximum withdrawal of Rs. 24000/- only permitted in a week, IRDA (Insurance Regulatory and Development Authority) has insisted that time extension must be given to the public to pay their premiums on their insurance policies.
IRDA has sanctioned an extension of 30 days time for those public who had to pay their premiums from 28th November to 31st December.
IRDA has sent a circular to all CEOs (Chief Executive Officers) of all Insurance Companies to offer this 30 day extension.
