As per IRDA regulations issued, what is the grace period allowed beyond the expiry date of a policy for renewal?

A. 10 days

B. 30 days

C. 45 days

D. 60 days

Answer: Option B

Solution(By Examveda Team)

As per IRDA regulations issued, 30 days is the grace period allowed beyond the expiry date of a policy for renewal. The policy will lapse if the premium is not paid within the grace period.