IRDAI extension of timelines for sale and renewal of short term Covid specific health insurance policies

Last updated: 26 March 2021

Save Share

Quick Summary

The Insurance Regulatory and Development Authority of India (IRDAI) has extended the timelines for offering and renewing short-term Covid-specific health insurance policies. This extension applies to policies like Corona Kavach and Corona Rakshak, allowing them to be sold and renewed up to 30th September 2021. All other terms and conditions remain as previously stated.

Insurance Regulatory and Development Authority of India

CIRCULAR

Ref. No: IRDAI/HLT/REG/CIR/061/03/2021

24^th March, 2021

All Life, General and Stand Alone Health Insurers (Except AIC and ECGC)

Re: Extension of timelines for sale and renewal of short term Covid specific health insurance policies

1. Reference is invited to the short term Covid specific health insurance policies permitted to be offered by all Insurers.

2. In partial modification of Clause 5 of Guidelines on introduction of short term health insurance policies providing coverage for COVID-19 specific diseases of Circular no: IRDAI/HLT/REG/CIR/156/06/2020 dated 23.06.2020 all insurers are permitted to offer and renew short term Covid specific health policies up to 30.9.2021.

3. Accordingly, Corona Kavach Policies offered as per Guidelines on Covid Standard Indemnity based Health Policy of Circular ref no. IRDAI/HLT/REG/CIR/163/06/2020 dated 26.09.2020 and Corona Rakshak Policies offered as per Guidelines on Covid Standard benefit based Health Policy of Circular ref no. IRDAI/HLT/REG/CIR/164/06/2020 dated 26.06.2020 are permitted to be offered and renewed by all insurers up to 30.9.2021.

4. All other terms and conditions remain valid as specified under the respective guidelines.

5. This has the approval of competent authority.

Sd/-
(DVS RAMESH)
GENERAL MANAGER (Health)

FAQ :

The circular extends the deadlines for the sale and renewal of short-term Covid-specific health insurance policies.

These policies can be offered and renewed up to 30th September 2021.

The extension applies to Corona Kavach Policies and Corona Rakshak Policies, among other short-term Covid-specific health policies.

No, all other terms and conditions remain valid as specified under the respective guidelines.

Guest

Notification No : IRDAI/HLT/REG/CIR/061/03/2021
Published in Miscellaneous
Source : https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo4421&flag=1

Share Report Abuse

Comments