{"id":4196,"date":"2021-04-17T07:01:59","date_gmt":"2021-04-17T07:01:59","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=4196"},"modified":"2021-04-17T07:02:01","modified_gmt":"2021-04-17T07:02:01","slug":"irdai-extends-timeline-for-short-term-covid-specific-health-insurance-policies","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/irdai-extends-timeline-for-short-term-covid-specific-health-insurance-policies\/","title":{"rendered":"IRDAI Extends Timeline for Short Term COVID Specific Health Insurance Policies"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Insurance Regulatory and Development Board of India on 24.03.2021, by way of a Circular No Ref. No: IRDAI\/ HLT\/ REG\/ CIR\/ 061\/ 03\/ 2021 has extended the timeline for Short Term COVID Specific Health Insurance Policies.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ad41f2f220\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ad41f2f220\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/irdai-extends-timeline-for-short-term-covid-specific-health-insurance-policies\/#Applicability_of_Circular\" title=\"Applicability of Circular\">Applicability of Circular<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/irdai-extends-timeline-for-short-term-covid-specific-health-insurance-policies\/#Key_Provisions_of_the_Circular\" title=\"Key Provisions of the Circular\">Key Provisions of the Circular<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/irdai-extends-timeline-for-short-term-covid-specific-health-insurance-policies\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/irdai-extends-timeline-for-short-term-covid-specific-health-insurance-policies\/#Official_Circular_on_Extension_of_Timelines_for_Short_Term_COVID_Specific_Health_Insurance_Policies\" title=\"Official Circular on Extension of Timelines for Short Term COVID Specific Health Insurance Policies\">Official Circular on Extension of Timelines for Short Term COVID Specific Health Insurance Policies<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Applicability_of_Circular\"><\/span>Applicability of Circular<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The said circular will be applicable to all Life, General, and Standalone Health Insurers. However, it shall be noted that the provisions of the circular will have no effect on the Agriculture Insurance Company (AIC)<sup><a rel=\"noreferrer noopener\" href=\"https:\/\/www.aicofindia.com\/AICHindi\/Pages\/default.aspx\" target=\"_blank\"><strong>[1]<\/strong><\/a><\/sup> and Export Credit Guarantee Corporation of India (ECGC).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Provisions_of_the_Circular\"><\/span>Key Provisions of the Circular<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>IRDAI has passed this circular to\npartially modify Clause 5 of Circular No IRDAI\/ HLT\/ REG\/ CIR\/ 156\/ 06\/ 2020,\nissued on 23.06.2020, which deals with the Guidelines on the Introduction of\nShort Term Health Insurance Policies offering Coverage for COVID \u2013 19 specific\ndiseases. <\/p>\n\n\n\n<p>As a result, all the insurers are\nallowed to offer and renew their Short term specific health policies by\n30.09.2021.<\/p>\n\n\n\n<p>Consequently, all the Corona Kavach Policies offered in accordance with the Guidelines on the COVID &#8211; 19 Standard Indemnity based Health Policy of the Circular Ref No. IRDAI\/HLT\/REG\/CIR\/163\/06\/2020, issued on 26.09.2020 and the Corona Rakshak Policies provided as per the Guidelines on COVID \u2013 19 Standard benefits based Health Policy of the Circular Ref No. IRDAI\/HLT\/REG\/CIR\/164\/06\/2020 dated 26.06.2020 are allowed to be offered and renewed by all the insurers up to 30.9.2021.<\/p>\n\n\n\n<p>Also, it shall be noted that apart from\nclause 5 all the provisions will remain as it is in nature.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In\na nutshell, to continue the benefits of the short term COVID specific health\ninsurance policies, IRDAI, by way of a Press Release Reference No IRDAI\/ HLT\/\nREG\/ CIR\/ 061\/ 03\/ 2021, issued on 24.03.2021, has extended the timelines for\nthe same.<\/p>\n\n\n\n<p>The new date up to which the insurer are allowed to offer and renew their Short term specific health policies is 30.09.2021.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/irdai-modified-the-guidelines-on-product-filing-in-health-insurance-business\/\">IRDAI Modified the Guidelines on Product Filing in Health Insurance Business<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Official_Circular_on_Extension_of_Timelines_for_Short_Term_COVID_Specific_Health_Insurance_Policies\"><\/span>Official Circular on Extension of Timelines for Short Term COVID Specific Health Insurance Policies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<a href=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/04\/Circular_-Timelines-extension-24032021.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Circular_-Timelines-extension-24032021<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Insurance Regulatory and Development Board of India on 24.03.2021, by way of a Circular No Ref. No: IRDAI\/ HLT\/ REG\/ CIR\/ 061\/ 03\/ 2021 has extended the timeline for Short Term COVID Specific Health Insurance Policies. Applicability of Circular The said circular will be applicable to all Life, General, and Standalone Health Insurers. However, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[43],"tags":[584],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/4196"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=4196"}],"version-history":[{"count":5,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/4196\/revisions"}],"predecessor-version":[{"id":4204,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/4196\/revisions\/4204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/4197"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=4196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=4196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=4196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}