Supreme Court Rejects Plea to Abolish Hanging, Says Centre Can Explore Alternative Methods  ||  Supreme Court: Sentences With Life Imprisonment Must Run Concurrently, Not Consecutively  ||  SC: Insurer Not Liable Beyond Sum Assured Without Advance Premium Payment  ||  Supreme Court: Illegal Appointments Cannot Be Regularised Due to Long Service  ||  SC: Courts Should Not Interfere Late in Tender Processes; Challenges Must Be Prompt  ||  Delhi HC: UAPA Default Bail Triggered after 180 Days, Not 90 under BNSS  ||  Madras HC: No Place for Caste Discrimination in Temples, God Treats All Equally  ||  Bombay HC: Public Authorities Need Not Obtain Third-Party Information for RTI Applicants  ||  Delhi HC Levies Rs.5 Lakh Costs on Delhi Metro Rail Corporation Limited over Sham Plea  ||  Delhi HC: False Marriage Promise Invalidates Consent Only if it Taints Consent    

Clarification on "Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization"- (Insurance Regulatory and Development Authority) (29 Nov 2016)

MANU/IRDA/0045/2016

Insurance

Reference is drawn to the Circular Ref: IRDA/ACTL/CIR/ULIP/236/11/2016 dated 25th November, 2016 on "Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization". It has come to the Authority's notice that there is a news item floating in the press that the Authority has instructed insurers to accept old Rs. 500 and Rs. 1000 notes for depositing insurance premium. Please note that the above circular does not mention acceptance of the said old notes and it merely extends the grace period of the policies issued by life insurers as mentioned in the above circular.

Tags : RENEWAL PREMIUM   PAYMENT   EXTENSION   TIME PERIOD  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved