Policy number

Each policy contract is identified through a separate policy number. This number is very important because the policy file is maintained physically and on computer on the basis of this number. Proposal number and date of proposal are also generally given in the schedule of the policy. Policy number is so designed that there should not be any duplication of this number in any part of the country or at any time. When a policy with a high sum assured is split into two or more policies one of the new policies keeps the original policy number and the other new policies are assigned new policy numbers. On revival of lapsed policies and on reinstatement of surrendered policies original policy numbers are retained.

Key words:

Schedule of policy
Policy contract
Policy number
Splitting of policy