Supreme Court: VAT is Not Applicable on Reliance’s Inter-State Gas Supply from KG Basin to UP  ||  Supreme Court: Co-Owner Can File Eviction Suit as Landlord under Bombay Rent Act  ||  Supreme Court: Mediclaim Reimbursement Cannot be Set off Against Accident Compensation  ||  SC: Hindu Succession Act 2005 Amendment Does Not Curtail Daughters’ Existing Inheritance Rights  ||  SC: Loans May be Treated as Deposits under MPID Act, Private Individuals as Financial Establishments  ||  Supreme Court: Preventive Detention Unwarranted When Ordinary Law Suffices to Maintain Order  ||  Supreme Court: Tenant’s Defence Cannot be Struck off Without Checking Wilful Rent Default  ||  Allahabad High Court: Disposing Non-Veg Food in Ganga May Hurt Hindu Religious Sentiments  ||  J&K&L High Court: Similarity With Police Dossier Alone Not Enough to Quash Preventive Detention  ||  Patna High Court: Convict on Bail Can Still Seek Premature Release    

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