On renewal:The insurer allowed the companies to renew the ‘Corona Kavach’ and ‘Corona Rakshak’ policies for a term of three and half months (3 ½ months), six and half months (6 ½ months) or nine and half months (9 ½ months). "The renewal shall be subject to the underwriting policy of the insurer," Irdai said.
For any increase in the sum insured, the waiting period shall start afresh only for the enhanced portion of the sum insured, the insurer mentioned.
The customer must renew the policy before the expiry of the existing policy contract. If the policyholders want to renew the policies, an additional waiting period of 15 days shall not be imposed.