Multiple choice

Which of the following is/are correct?

  1. Alterations can be done by placing a suitable endorsement on the policy.

  2. For some alterations, cancellation of existing policy and issuance of new policy are resorted to.

  3. Both 1 and 2

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Alterations can be done by both of the methods. Alterations may not be permitted in the first year, but in the subsequent years, alterations can be done by placing a suitable endorsement on the policy or on a separate paper. Other alterations which require material change in the policy conditions may require cancellation of existing policy and issuance of new policy.

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