IRDAI asks insurers to allow travel insurance policies' extension without charges amid COVID-19 impact

The insurance regulator IRDAI has, in COVID-19 related instructions issued to insurance companies, said that they "may allow travel insurance policyholders to extend the start/end dates of policies valid between March 22, 2020, and April 30, 2020. 
 
This means that policyholders may soon get an option from insurers to extend their travel insurance policy dates without paying extra charges to ensure that the impact of the coronavirus pandemic on their travel plans and finances is cushioned. 
 
The option to extend dates without extra charges will come as a relief for those policyholders who have or will now have to reschedule their air ticket bookings due to the strict lockdown measures announced by the government to contain the spread of the deadly coronavirus (COVID-19). 
 
So, if you are someone who was booked to fly during this time, you can reschedule the trip start date (in the policy) without paying an additional charge. However, do keep in mind that since this is just a guidance to insurance companies from IRDAI, the extent to which it is implemented depends on the insurance companies.

User

Loading...
Loading...

To continue


Please
Sign Up or Sign In
with

Email

We are listening!

Solve the equation and enter in the Captcha field.