News From Press You might not get the option to pay health premiums in instalments

You might not get the option to pay health premiums in instalments

Irdai has asked insurance companies to allow policyholders to pay their annual health insurance premiums on a monthly, quarterly or half-yearly basis, but not all insurance companies have provisioned for this facility and the few that have might not offer the option to all policyholders

Mint May 7, 2020

The extended lockdown in the wake of the covid-19 outbreak has impacted businesses across sectors, and one major fallout of this has been employees dealing with pay cuts and job loss. In a bid to offer some relief to policyholders dealing with liquidity crunch, on April 21, the Insurance Regulatory and Development and Authority of India (Irdai) asked all general and standalone health insurers to give policyholders the option to pay health insurance premiums in instalments.

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