Health insurance new rule: You will get full coverage during grace period even if premium is unpaid, mandates IRDAI

The new IRDAI rule mandates that health insurance policyholders will now get full coverage during the grace period, even if the premium remains unpaid. The grace period is standardized to 15 days for monthly premiums and 30 days for quarterly, half-yearly, or annual premiums. Previously, insurers were not required to provide coverage during this period, but now all insurers must honor claims made within the grace period, ensuring uninterrupted protection for policyholders despite delayed payments