Sub: Grace Period up to 31st
is further to the Authority’s Circulars Ref:IRDA/Life/Cir/MISC/072/03/2020 dated
23rd March 2020 and Ref: IRDAI/Life/Cir/MISC/078/04/2020 dated 4th
review of the recent situation of lockdown resulting from Global Pandemic of
Covid19 across the country and representations received, it has been decided
that, for all life insurance policies where the premium falls due in the month
of March 2020, the Grace period shall be allowed till 31st May 2020.