Irdai, the insurance regulatory body, on Sunday said it has decided to further extended the grace period for renewal of life insurance policies whose premium was due in March till May 31 in wake of the extension of lockdown to fight spread of coronavirus. "On a review of the recent situation of lockdown resulting from global pandemic of Covid-19 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", Irdai said in a statement.
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