Username
Password
 
Life Insurance
Non-Life Insurance
Mutual Funds
Bonds
Loans
Small Saving
 
Online Counselling
Newsletter
Calculators
Insurance Portfolio
e-Greetings
Download Forms
 
 
 
» Home » Information » Learning Centre » FAQs Details
 
 

Non Life Insurance

 Refer this page to a friend   Print preview

Can motor policies be issued for a longer term than a year?

No policy can be issued for a period of more than one year ordinarily. However, for motor cycles and scooters only, the Act Policy in Form A, which is the minimum compulsory insurance required by law, may be issued on a long term basis. Such policies once issued remain valid up to the cancellation of the registration of the vehicle by the Regional Transport Authority (R T A).

This insurance is particularly useful for owners of comparatively older vehicles, for whom the Comprehensive Cover becomes a little too expensive considering the age and market value of the vehicle. The premium for such insurance is charged in accordance with the Long Term Act Policy Premium Schedule.

Back Top
 
 
All Rights Reserved.2015 © www.licnambi.com
Disclaimer Privacy Policy Contact Us Feedback Search the site Site Map
This website is optimized to perform best with Internet Explorer Browser set to 1024 x 768